Kwenta offers two payment solutions for e-commerce checkouts: Pay in Groups, which allows users to share payments with family and friends, and Pay in Multicard, enabling transactions using multiple payment methods. These solutions address issues of maxed-out credit cards and payment failures by facilitating seamless co-payment through shared payment links.
Funding
Funding not disclosed
Founders
Product
Problem
E-commerce customers often face issues such as maxed-out credit cards or payment failures, leading to abandoned shopping carts and lost sales for merchants. Coordinating payments with multiple individuals or payment methods can be cumbersome and time-consuming.
Solution
Kwenta provides payment solutions designed to streamline e-commerce checkouts by enabling customers to split payments. Their "Pay in Groups" feature allows users to share a payment link with others, facilitating collaborative payments among friends and family. The "Pay in Multicard" option enables customers to combine multiple payment methods for a single transaction, overcoming credit limits or insufficient funds in one account. These solutions aim to reduce payment friction, increase conversion rates, and improve the overall customer experience.
Target Audience
Kwenta targets e-commerce businesses seeking to improve their checkout conversion rates and enhance the customer payment experience, as well as consumers who desire more flexible payment options.
Features
- Pay in Groups: Enables users to share payment links with multiple individuals for collaborative payments.
- Pay in Multicard: Allows customers to combine multiple payment methods (e.g., credit cards, debit cards) for a single transaction.
- Shared payment links: Simplifies the process of collecting funds from multiple contributors.
- Reduces payment failures: Addresses issues related to maxed-out credit cards or insufficient funds.