PAYFORT’s installments product allows customers to use their credit cards to purchase products and services via ecommerce websites and make payments in monthly installments to their choice of retail bank. By providing a pay-via-installments option and an optimal user experience, installments help ecommerce merchants leverage the growth in the installment payments segment.
PayFort’s installments are now available through in the UAE, through Emirates NBD (ENBD), Mashreq Bank, Abu Dhabi Commercial Bank (ADCB). In KSA, through the Saudi British Bank (SABB), National Commercial Bank (NCB) and Saudi Hollandi bank and in Egypt through Mashreq Bank and others.
Online consumers have proved to have an affinity for purchasing via installments around the globe, across a wide range of product and service sectors. Purchasing-via-installments provide consumers with greater purchasing power and financial flexibility. The region’s online pay-via-installments segment is currently growing significantly.
Current pay-via-installment offers in the region often require customers to participate in a complicated sign-up procedures and lengthy verification processes. These may require customers to telephone participating banks for credit approval, which can delay the customer’s purchase by 3-4 working days.
PAYFORT is the payment platform for a number of ecommerce websites across the Arab world, such as Souq.com, Dubizzle.com, Landmark, Sukar, AirCairo, flynas, Air Arabia, Carrefour, and Tecom, and they rely on PAYFORT to manage their payment processes so they can focus on improving the customer experience.
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