30 April 2020
etika brings Buy Now, Pay Later with a difference
etika has entered the Australian BNPL market, offering better and fairer BNPL. etika aims to increase the average order value of Ecommerce businesses, however, not at the cost of financially overextending their customers.
CEO Robert Schuijff – ‘etika was founded in 2014 by a group of tech entrepreneurs, that wanted to make fairer finance accessible to more people globally. We want to deliver fair and flexible financial products, in a socially responsible way’
Why is etika’s BNPL fairer and why does it matter?
- etika does credit checks on all customers, as they believe in a responsible and fair approach to lending money
- etika helps their customers stay in control of their budget, with a choice of between weekly, fortnightly or monthly repayments over eight weeks
- etika charges no interest, account or late fees. So no surprises
- etika’s merchant fees are fair too
Research* shows that retailers find ethical and responsible lending more important than the number of customers that are accepted for finance.
And yes, of course the topline and bottomline matter too. BNPL has shown to increase cart conversion and average order value and is a great alternative for credit-card wary shoppers. And etika’s merchant fees are very competitive.
Give me a safe choice!
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Shoppers like a choice and a safe one at that. Among global shoppers in 2018, the cart abandonment rate for retail orders was as high as 74.5%
. Two of the drivers for cart abandonment are offering insufficient payment options and concerns around payment security.
etika not only delivers an ethical payment alternative at check-out, but also a safe one. Their platform employs industry-standard and bank-level SSL encryption, as well as a world-class firewall service to protect the customer’s data.
And Integration is quick and easy. The payment plugin is developed and supported in-house and in Australia. So they’re easy to reach if you need some extra help! Want to know more?
* Research conducted for etika amongst 400 senior decision-makers for retailers in the UK and Australia. January 2020.