DivideBuy

DivideBuy is a consumer lending platform based in the UK that specializes in providing interest-free credit and instalment plans. The company offers a retail finance solution that allows shoppers to spread the cost of their purchases over monthly instalments, typically ranging from two to 12 months. DivideBuy's service covers a wide range of products, including furniture, electronics, appliances, beauty products, and clothing. The company's technology integrates with various ecommerce platforms such as Shopify, WooCommerce, and Magento, enabling a seamless checkout experience for consumers.

DivideBuy's service is available for purchases ranging from GBP 50 to GBP 6000, with no interest or hidden charges applied. The company performs a credit check to assess eligibility and affordability, but also offers a quick check service that does not affect the applicant's credit file. Payments are collected automatically via a Continuous Payment Authority using the customer's card details. As of July 2023, DivideBuy reported serving over half a million shoppers and partnering with more than 300 businesses.

For merchants, DivideBuy offers a point-of-sale finance solution that aims to increase conversions and average order values. The company pays merchants in full upon purchase completion and then handles the collection of instalments from customers. DivideBuy also provides merchants with a tool called Convert+, designed to help online retailers boost sales by displaying payment amounts over time for basket values, potentially encouraging customers to add more items to their orders.

Key customers and partnerships

DivideBuy's service is utilized across various industries, including furniture, electronics, appliances, and more. The company has integrated its payment solution with over 300 businesses as of July 2023. DivideBuy's retail finance solution has gained the trust of UK online retailers, making it a widely accepted payment option in the ecommerce industry.