Spotii is a technology-enabled payments solution that empowers your Shoppers to Shop Now and Pay Later with absolutely zero interest and processing fees across four equal instalments. Offering Shop Now and Pay Later options have been shown to increase average basket size by 50-70%, increase conversion rates by 20-40%, reduce refunds by up to 30%, reduce the need for discounting and raise customer loyalty.
The way it works is simple: your Shopper selects Spotii at checkout and fills in some basic details for an instant approval decision. The whole process takes less than 2 minutes, about the same time to enter credit card information. Spotii charges your customer only 25% of the total at checkout, but pays you (the Merchant) the entire order value upfront less our take-rate. Spotii manages the customer payback schedule and takes on all the fraud, chargeback and repayment risk, which is managed by our proprietary predictive screening technology. You get your cash immediately and risk free! All you then need to worry about is delivering the order.
We work hard to provide Shoppers a pleasant repayment experience. We have no hidden costs and as long as the Shopper pays on time, there are zero additional fees. Taking this approach deepens the love your Shopper has for your brand, increasing purchase frequency and customer loyalty. Shoppers are fully informed about their upcoming payments through multiple channels and their instalments are automatically scheduled, so they never need to worry about forgetting a due date.
We take our commitment to customer centricity, ease and transparency seriously. Our technology was designed to ensure minimal resource requirements from you, the Merchant. We have designed a simple plug-in that can integrate into a variety of e-commerce platforms, such as Magento, WooCommerce and Shopify, with ease. We have a full development team to help with any integration concerns that might arise, including supporting custom integrations.
To learn more about how Spotii works for Merchants and to get signed up, click here!