Divido, the checkout finance platform, has reported 50% growth over the last year

IN BRIEF:

- Divido has stated its aim is to make 2023 the year checkout experience and payments become a long-term driver of growth for retailers and lenders

- With inflation set to weaken retailers’ profits this year, and consumers demanding more manageable forms of finance, Divido is set on a course of innovating checkout finance to improve the retail customer experience and offset retailers’ losses caused by the current economic headwinds

- In 2023 Divido will implement its checkout finance platform on behalf of multi-million-pound merchant The London Mint Office. It will also be integrated into the CellPoint Digital orchestration platform and partner with Nuvei. Elsewhere, Divido has strengthened its partnerships with existing clients, such as ING, HSBC and Nordea.

What does this mean?

Divido CEO Todd Latham comments: “Businesses are under a lot of pressure to reduce costs and reach more customers and help them to buy the necessary items. 2022 showed there is still a gap between what retailers are offering and what consumers need. As consumer behaviour changes, and inflation continues to take its toll, lenders and merchants must meet these evolving customer needs and deliver transparency, value, and flexibility at the point of sale. Through strategic partnerships, retailers and lenders can offer consumers responsible checkout finance options. In what will continue to be a difficult time for many, this level of choice can help brands earn trust and loyalty by creating frictionless finance for the consumer moments that matter.”