Switching made easy: Your most frequently asked questions

Do you want to switch POS finance providers, but you’re not sure about the process involved? Good news – switching credit providers is really very simple! In fact, at DivideBuy we do most of the work for you.


2020 brought with it a massive uptake in online shopping channels and so retailers are having to work harder than ever before to ensure brand loyalty. It makes sense that retailers are reviewing their current credit options to make sure they are offering the best solution for their bottom line, and their customers.


To help you understand the process, we’ve answered some of the questions we’re asked most frequently when it comes to switching.


What does the process of switching credit providers involve?


Well, first of all, once you’ve dropped us a line expressing your interest, we’ll take the time to get to know your retail business so that we understand exactly how we can improve on what you’re getting from your current provider.


We know that when it comes to a credit solution, one size certainly doesn’t fit all, and every retailer requires a different approach to credit depending on their unique consumer demographic.


Once we know what you need, we’ll work out what our solution can offer your business, taking into consideration why your current partnership isn’t quite hitting the mark and where improvements can be made – for example, increasing conversion rates. This means that we’ll offer a bespoke solution that’s tailored to your business.


Once you’re happy with this, we’ll integrate our solution into your systems for free, so that you can test it out.


Which merchants are eligible to switch to DivideBuy


To be eligible for a DivideBuy Checkout you must:


  • Be VAT Registered
  • Be based in the UK, selling product to consumers
  • Have an annual turnover of £100k+
  • Have traded for a minimum of 6 months+


How long does the switching process take?


Before you begin the switching process, here’s a quick checklist of what you should have and how we’ll then work with you to integrate the DivideBuy Checkout:


  • Agreement: You should have signed an agreement and confirmed your commission rates with our Business Development Team. If you haven’t already, you can do that here.
  • Credentials: Upon completion of your agreement, our Retailer Success team will make contact and request your website credentials.
  • Integration: At this point, we’ll guide you through the integration process.
  • Go Live:Once we’ve successfully integrated the DivideBuy Checkout with your website, you’re good to go.
  • Merchant Portal: We provide you with log in details for the DivideBuy Merchant portal. Details for how to use the portal can be found here.


For customers who are still paying off an order with a previous provider, what does this process look like?


You’ll be glad to hear that this doesn’t impact the switching process at all. Adding DivideBuy to your checkout and taking another provider off simply means turning off their API on the front end of your website so that customers can no longer make orders through their solution and integrating DivideBuy instead. However, you can keep their API on the back end for as long as you need, so that you can continue to access orders previously made through that provider.


How involved does DivideBuy need to be in the un-instalment of a previous provider?


In terms of the back end un-instalment process, there’s no reason for us to get involved at DivideBuy. However, we will step in to help facilitate a phased approach to switching that involves educating your staff – including developers and customer service advisers – on everything they need to know about the new solution and what it means for your customers.


What are the benefits of offering multiple providers alongside each other?


This depends on your unique ecommerce business and therefore your unique customer base. For example, if your business is largely aimed at Gen Z or Millennial customers, chances are they already have accounts with all or some of the major POS finance providers and are familiar enough with their offerings to be able to choose the one that works for them. In this case, providing choice for your customers can be extremely beneficial, especially as we offer interest free credit for up to 12 months, whereas with other providers interest tends to kick in after four months.


On the other hand, if your customer base is less likely to be familiar with different providers, offering more choice can just make the checkout process more convoluted. In this case, we would recommend working with one POS finance provider.


However, no matter who your target audience is, once our Business Development team get to know your business, we can make much more specific recommendations.


What are the T&Cs of the free DivideBuy trial on offer?


At DivideBuy, we recommend that you trial a product before you commit to it long term. That’s why we’ve introduced our free trial offer.


All this means is that we will integrate our solution into your checkout completely for free for 28-days, so that trialling DivideBuy comes at absolutely no cost to you – we would just take our usual commission rate on the cost of any purchases that are made through our solution.


With the 2021 spring sales season around the corner, why not trial our solution in plenty of time? For more information, book a demo with our business development team. 

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