DivideBuy connects to Acquired.com

DivideBuy, the UK’s point-of-sale (POS) finance pioneer, today announced a partnership with Acquired.com, a UK-based payments specialist and payment initiation service provider, through which merchants of DivideBuy will be able to take advantage of intelligent automated tools designed to eliminate transaction failure rates, increase approval rates and provide much smoother payment experiences for customers.

In another disruptive innovation from Staffordshire-based DivideBuy, LendTech’s partnership with Acquired.com promises to accelerate the adoption of point-of-sale financing among DivideBuy merchant customers by reducing unintended churn, reducing the number of declined transactions and enabling better understanding of data through improved reporting and analysis tools.

Established in 2015, FCA-regulated Acquired.com is an agile payments specialist, offering bespoke and personalized payment processing and digital banking solutions to solve the challenges faced by businesses when processing, collecting and making payments. DivideBuy will leverage Acquired.com’s state-of-the-art acquiring gateway and automated tools to optimize payments, routing transactions through different payment rails and acquirers to increase acceptance rates for merchants.

A key feature is the Account Updater tool, which will allow DivideBuy merchants to avoid declined payments due to outdated card and account details, reducing cart abandonment rates and providing a much better experience for merchants. clients. Account Updater allows businesses to accept recurring payments and avoid hassles caused by expired cards or updated account details, by automatically updating buyers’ payment information whenever it changes, including including account or card number, name, providers and card expiration dates.

Another revolutionary benefit is that DivideBuy merchants can now send customers secure payment links (Pay-By-Link) via email or SMS, allowing them to choose another payment method of their choice to complete the transaction. . When integrated with DivideBuy’s interest-free credit installment solution, it means merchants can dramatically reduce failed transactions at checkout, dramatically increase conversion rates to drive more sales, and reduce checkout time. would be required to manually search for failed payments with customers.

With DivideBuy occupying a unique space in the point-of-sale financing market by being both a technology solutions provider and a lender, the partnership with Acquired.com will ensure that DivideBuy’s award-winning SaaS technology platform generates even more value for consumers. tradespeople.

The use of POS financing and interest-free credit is booming worldwide, with the latest research suggesting an expected 157% growth in users over the next five years, from 360 million in 2022. to 900 million by 2027. The POS finance solution is set to become even more mainstream in a growing number of merchant sectors.

Teresa Byrne, Chief Commercial Officer of DivideBuy, said, “DivideBuy’s mission is to disrupt point-of-sale financing with responsible lending solutions and give merchants all the tools they need to succeed. Our partnership with Acquired.com delivers groundbreaking levels of information and services previously unavailable that promise to transform merchant sales performance. Acquired.com is the perfect partner for us – we share a deep commitment to providing ethical and responsible payment solutions, and a determination to help merchants build lasting relationships with their customers. I look forward to seeing how Acquired.com’s toolkit will accelerate DivideBuy’s delivery of even more payment choices to customers and greater revenue for merchants.

Mark Johnson, Chief Commercial Officer, Acquired.com, said, “Acquired.com is uniquely positioned to support DivideBuy’s payment processing needs at a very exciting time for the business. Our industry-leading payment solutions are built to scale and are supported by an unparalleled customer support team. We look forward to working closely with DivideBuy to deepen their customer-centric approach to interest-free credit and transform their payment ecosystem as they grow.”

DivideBuy’s eCommerce finance POS credit plugin integrates with shopping cart features like Shopify, Magento, WooCommerce, and Craft Commerce to offer interest-free credit through merchant partners. DivideBuy offers a quick 60-second application process and immediate decision, which means customers can split the cost of their purchases with no hidden fees.

After announcing a major £300m funding deal with global investment management firm Davidson Kempner Capital Management LP in 2021, DivideBuy is continually growing its roster of over 500 merchant partners across a growing range of vertical markets. Building on its recent partnership with cloud-based CRM leader Salesforce, DivideBuy’s latest partnership with Acquired.com is expected to expand its consumer base, aided by changing consumer attitudes towards interest-free credit.

Acquired.com became a Visa and Mastercard Accredited Payment Service Provider in 2016 and obtained a Payment Initiation Service Provider (PISP) ​​license in 2019.

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