06 July 2023

Divido set to create embedded retail finance network with the launch of expanded product, ‘Divido Connect’

Written By FinTech Alliance in Embedded Finance

Divido set to create embedded retail finance network with the launch of expanded product, ‘Divido Connect’

Checkout finance provider, Divido, has announced the upgrade of its UK direct-to-merchant platform to now give merchants easy access to retail finance across Europe. With ‘Divido Connect’ merchants can now uniquely offer retail finance from a network of reputable lenders across the UK and Europe.

  • Divido Connect launch will supercharge international retail finance for merchants 
  • The new retail finance platform provides a single point of integration into multiple lenders across key European markets
  • This will allow merchants to offer omnichannel retail finance across seven countries including the UK, France, Belgium, Spain, Portugal, Italy and Romania
  • Divido Connect is the foundation for the company’s vision of creating a network of trusted lenders and merchants, to enable retail finance at any checkout, globally

Previously available in the UK, and now in France, Belgium, Spain, Portugal, Italy and Romania, Divido Connect makes it straightforward for merchants to offer their customers’ checkout finance for single payments and for European merchants to enter the UK. This will give merchants access to a full range of finance options in each of these markets, including pay-in-three, 0% APR finance and instalment finance for up to 10 years with purchases up to £25,000, depending on the country.

The ready-to-use Divido Connect platform is powered by trusted lenders. Novuna will offer UK retailers financing options and Oney will provide finance across Europe, with more tier one lenders set to join the network in the next 12 months. Using one integration and one set of management tools saves costly engineering work.

With Divido Connect, merchants can:

  • Enable borderless finance – Access a reliable and trusted lender network in the UK and Europe to activate finance in additional markets in approximately four weeks
  • Boost efficiency – Manage multi-country finance with a single-serve platform, saving time, costs and resources to build your own bespoke solution
  • Gain greater control – Manage the customer experience with a solution that will cement brand recognition and build customer loyalty
  • Increase their visibility – Have a central view of all finance payments and status across the UK and Europe

Divido Connect is the first offering in Divido’s expansion of its established checkout finance platform to move towards creating a whole-checkout retail finance ecosystem. CEO of Divido, Todd Latham explains, “Checkout finance in all its forms has exploded in the last 18 months. Consumers are increasingly seeking out embedded finance offerings to better manage their finances and we expect demand to continue to grow. Having a checkout finance option that helps consumers pay in smaller repayments is going to have to be a first thought, not an afterthought, for merchants looking to convert sales. On the flip side, lenders have a huge opportunity to grow their market share by working with these merchants, but the two parties are rarely connecting to offer the best solution. 

“That’s where our network can help. We already work with lenders and merchants to offer a win-win solution to all stakeholders, as well as the end consumer. Lenders get access to a larger audience, merchants can de-risk their investment in checkout finance by adding or moving to new lenders as needed and consumers can have more control over their payments. The launch of Divido Connect expands on this, and will see merchants able to easily grow their checkout finance offerings into new markets and have full visibility into all their checkout finance payments in multiple markets, via one single integration.” 

Up Next ...
21 November 2024

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

21 November 2024

Machine Learning: Revolutionizing Fraud Detection in Banking

These technologies enable financial institutions to analyze vast amounts of transaction data in real-time, identify suspicious activities, and minimize false positives...

21 November 2024

MeaWallet Partners with Integrated Finance to Enhance Digital Wallet and Secure Card Data Access for Fintechs

The collaboration is set to strengthen digital wallet payments and secure card data access capabilities for fintechs

20 November 2024

Atome Financial Secures $200M Credit Facility to Drive Growth

Atome plans to use the funds to strengthen its technological capabilities and grow its market presence, particularly among underserved, young consumers...

More in Embedded Finance

Allica Bank partners with Wise to bolster cross-border payments for UK SMEs

05 December 2023

The SME-focused bank is helping its customers expand internationally with ...

HSBC names executive team for new embedded finance FinTech

29 November 2023

HSBC has named the executive team that will spearhead a ...

Posted By The Community

Is embedded finance technology the future of the FinTech industry?

24 November 2023

Embedded finance leader mmob has been featured in an article by UKT News. The piece discusses h...

Written By: mmob

Embedded Finance: The New Frontier in Global FinTech

06 November 2023

In today’s rapidly evolving economic and business landscape, the FinTech ...

Thought Leadership Embedded Finance

How embedded finance is rewiring 'traditional' financial services first

28 March 2023

We’ve all heard the talk of the embedded finance revolution. It’s enabling any business to incorpora...

There are no Events in this category