Checkout finance provider, Divido, has today launched two new product capabilities ‘Divido Analytics’ and ‘Split Capability’, allowing merchants greater understanding and flexibility over their checkout finance experience.
Split capability allows merchants to split product sales between different lenders, increasing business flexibility and increasing sales, managed through the Divido merchant portal. If a lender changes their willingness to lend against different products, merchants can turn to an additional lender within the Divido Connect ecosystem, allowing merchants to continue selling across key product areas.
This is a serious issue within the green energy sector where some lenders may be inclined towards heat pumps and solar panels. In the UK this year alone, solar panel sales have doubled as UK homeowners look to alternative ways to cut rising bill costs. However, the cost of installation can be between £12,000 and £13,000, a huge outlay for families at a time when the cost of living crisis shows signs of rising. To support consumers in their mission to live more sustainably, it is vital that merchants have the right lenders to support this shift in consumer behaviour.
Todd Latham, CEO of Divido, explains: “Consumers are becoming environmentally conscious now more than ever and are looking to shop with companies that align with their values and are committed to being more sustainable and reducing daily expenses. That support their ambitions. The split capability enables merchants to do this and allows businesses to keep selling products for key moments.”
Divido has also launched Divido Analytics which gives merchants unmatched control over their customer retail finance data. Merchants are struggling to balance the cost of acquiring customers with profitability. Divido Analytics gives traders the live data they need to increase profitability by analyzing the performance of personal finance plans, product verticals and more.
Our research shows that 50.4% of consumers would be more likely to complete a purchase if they knew checkout finance was a payment option and 54.2% would consider spending more if it was an option. The new data also shows that more than 35% of consumers are planning to do all of their Christmas shopping between now and Black Friday. With access to these insights and real-time data, merchants can help businesses create unique shopping experiences for consumers tailored to payment preferences.
Divido Analytics allows traders to:
• Monitor retail finance performance in real-time across all lender countries and sales platforms to improve business performance. You can also analyze conversion rates and optimize the shopping journey
• Get a detailed view of customer demographics to help increase customer loyalty
• Track progress against KPIs with customized and exclusive dashboards to access the Divido platform in any application journey
Latham adds: “Traders are approaching a key selling period in the UK. The Golden Quarter is an ideal opportunity to boost sales for the rest of the year and its essential merchants have the latest capabilities to do just that and manage the experience from start to finish. As consumers are still going through a turbulent economy, checkout finance can be a powerful payment option to convert clicks to sales and build customer loyalty.