Online payment solution provider Dragonpay Corp. and First Digital Finance Corp. announced last Tuesday a joint project allowing e-commerce platforms to ease financing at the point-of-sale.
Providing credit line for online consumers without debit or credit card via propriety algorithm, FDFC’s platform is incorporated into the merchant’s checkout with a single integration within the alternative payment system of Dragonpay.
“We are excited to launch this payment solution with Dragonpay and combine our ecommerce offerings into a single solution,” FDFC President Georg Steiger said. “Our joint payment offering will enhance both the merchant and end-customer experiences especially during this difficult period as the pandemic affects consumers’ ability to pay upfront.”
FDFC’s platform called “BillEase” is offering on-demand credit through participating merchants and preventing fraud and credit risks, according to Steiger.
The executive assures that activation for merchants already using Dragonpay can be done in a few minutes and “seamless.”
“This single platform solution is focused on boosting average order value, increasing conversions and fuel growth for merchants with no inclusive payment solution,” Steiger said.
Dragonpay President Robertson Chiang, meanwhile, said that the partnership with FDFC would “give shoppers the exact solution which enables them to enjoy a more inclusive payment alternative at their own terms.”
In April, FDFC and Lazada launched a financial-relief program to support online merchants during this pandemic. It is aimed at providing working capital support to the affected micro, small, and medium enterprises via the fintech platform.
The loans to be applied by online merchants seeking additional capital will be based on their sales record before the Luzon-wide enhanced community quarantine.
The said program is open to Lazada sellers who have been in operations for at least six months on the platform.
Loans, with interest priced between 2 percent and 3.5 percent, are processed within one banking day. Borrowers have an extra one-month grace period for payment deadline under the program.