Jaja Partners with ASDA on Launching New Payment Facility

Jaja introduces a white-label facility called “JajaPay” and teams up with Walmart’s British subsidiary ASDA.

The retail chain is adding a means for customers to spread their payments using “ASDA Flexible Payments” when purchasing items from their online shop George.com (which sells clothes, furniture and toys).
Customer process:
- The customer sets up a “Flexible Payments” account.
- An agreement-in-principle is instantly granted.
- He then has 90 days, starting from the day he signs up, to pay for his purchases, interest-free. Beyond 3 months, APR apply.
- His monthly instalments are debited automatically.
This option was introduced ahead of Black Friday and Cyber Monday.

This solution provides purchasers with an affordable and flexible payment solution. It also increases conversion rates for merchants.
ASDA adds a new payment facility for all retailers: discussions would, indeed, be underway with several merchants. Also, the retailer should soon launch an API for merchants' websites.
This partnership shows that Credit-as-a-Service offers are gaining momentum: JajaPay provides this white-label instalment service to ASDA. Unlike rival services, this retailer does not have a banking arm and, for their own customers, acts under the brand name ASDA Money, with help from a certain number of partners.
The retailer applied a similar strategy to personal loans, in this case they opted for the broker Freedom Finance, in charge of searching through all offers to show best-suited rates based on each borrower’s profile.

ASDA and Jaja Pay observed that more retailers are looking into instalment options instead of traditional co-branded credit cards or private-label cards.
For instance, the British group Arcadia (owner of Burton, Topshop or Dorothy Perkins) recently opted for Klarna’s new service Slice it in 3.

Video: https://vimeo.com/298818858

Category : Alertes quotidiennes

Source : Jaja