Case Study

Buy Now Pay Later – Alternative Credit & Payments

Usage of Plastic money has been a popular way of purchasing goods in the last decade.

At a Glance

However, in many cases, this led to a huge amount of debt.

Hence, the new Gen Z prefers to use an alternative payment option i.e. Buy Now Pay Later (BNPL) to reduce the risk of debts.

Azilen with its Fintech software development competence has successfully delivered one such solution providing consumers with an On-demand finance option.

Key Highlights

PCI Compliant

Multi-Party Transactions

Historical Payment Data Mgmt.

Consumer Credit Score Analysis

Automated Merchant Settlement

Financial Reporting & Accounting

Challenges

Consumer Data Sovereignty
Fraud & Risk Prevention
Multi-technology Integration
Transactional Info. Encryption

About Client

The Customer based in South Africa is one of the leading digital banking solution providers with a deep background in financial services & payment technology. The customer aims to deliver a world-class payment solution that is superior & easily adaptable by consumers & merchants.

FINTECH

Industry

BNPL

Domain

SOUTH AFRICA

Location

Are You Looking for a Leading Software Development Company in South Africa? Contact us now!

How we helped?

Azilen collaborated with the customer to build a state-of-the-art Buy Now Pay Later (BNPL) payment system, feasible & integral with any of the E-commerce stores. This solution brings in a payment revolution enabling the consumers to have an interest-free payment plan & merchants to boost their sales.

30%

Boost In Sales

42K+

Active Consumer Base

300+

E-Commerce Store Integration

The Solution

The customer was looking for a payment gateway that attracts the consumers to Buy More from various E-commerce marketplaces. Hence, the idea was formulated to build an innovative BNPL (Buy Now Pay Later) Payment System that provides Interest-free finance options to the consumers on their purchases.

Buy Now Pay Later Payment System that provides Interest-free finance options

WHAT IT BRINGS IN FOR CONSUMER?

Payment Flexibility
Interest-Free Credit
Scheduled Payments
One-stop solution for all purchases
Enhanced Shopping Experience
Easy Refund on Order Return
Secured Transactions

WHAT IT BRINGS IN FOR MERCHANT?

Easy Payment System Integration
New Shoppers – Incremental Sales
Higher Conversion with Bigger Carts
Hassle-Free Payment Settlements
Zero Credit or Fraud Risk
Consumer Loyalty
Increased Repurchase Rate

Consumers are weary of credit cards and the interest that comes with them. However, they are highly interested to explore an alternative payment option that provides a similar purchasing experience. Also, eTailers can boost online sales by fostering trust and offering financial flexibility to its consumers. This brings in to hop aboard the trending BNLP services that help:

Consumers to have Interest Free Installments
The best option for unexpected or emergency purchases
Merchants to lower consumers buying hesitation
To entice the consumer to increase average order value

E-commerce Store Checkout

Pay in Full
Acquire Finance for Purchase
Consumer Registration & Verification
Credit Score Analysis
Make Payment
Transaction Receipt

Administration & Reporting

E-commerce Store Directory
Merchant Daily Payment Transaction
Email/SMS notifications
Costumer & Merchant Management
Financial Reports

Customer Portal

- - - - Order History & Payment Plan
        
        Due installments for Purchases
        
        Advanced Payment
        
        Order Return & Refund Request

Merchant Portal

- - - - Order History by Consumers
        
        Received Payment from Payment Solution
        
        Manage & Process Refunds
        
        Refund Payment Settlements

Let's Connect for Successful Product Journey