How Buy Now Pay Later solution boosted an e-commerce platform - Banana Mall

E-commerce industry use case

Background Story

Millennials have tremendous purchasing power and play a significant role in driving consumers’ purchasing behavior. For these reasons, companies are targeting more millennials as they shift to point-of-sales lending. Unlike credit cards, the POS platform is an attractive solution that offers consumers flexible payment plans, increasing their buying power.

BNPL provider “LendMN” NBFI integrates our solution to both e-commerce and in-store merchants by tailoring the offer to their unique requirements, calling their service SupPay. The main challenge for both online and offline stores was to provide financial options to buyers for purchasing products with flexible payment alternatives.

Since launching the BNPL solution, the e-commerce platform Banana Mall can offer suitable financial solutions for their clients with intelligent end-to-end automation. By customizing repayment plans, customers can choose when and how the installments are paid, which helps the company to develop long-term relationships with their customers.

With the SupPay payment option, Banana Mall achieved 5X monthly sales, 3X average monthly order value, and 3X monthly orders.

Our solutions made more merchants joined their e-commerce platform, and with more merchants, they were able to attract more buyers who can buy their favorite brands with just one click. The in-store integration allows merchants to digitize customer onboarding, work seamlessly with customers’ E-wallets. The retailer POS system helps enhance customer experience by unifying their front and back offices. With the centralized reporting of all financing activity across all stores, retailers could determine the trend and offer more specialized deals.

About the used solutions

Loan origination system

Our Loan Origination Technology aims to deliver a simple, consistent, and hassle-free lending experience for digital borrowers. It makes the loan applications, underwriting, credit decisioning, and loan funding more efficient, streamlined, and responsive.

  1. Fully automated e-KYC and document submission
  2. Built-in Credit and Behavioural Scoring
  3. Third-party data source integration
  4. Dynamic loan product configuration compatible with both interest and fee-based models
  5. Multiple loan disbursement channel integration – Bank, E-Wallet, OTC

Loan management system

With our Loan Management System, lenders can securely manage multiple lending products and repayment processes in a simple integrated manner to seamlessly complete the loan lifecycle.

  1. Role-based admin dashboards
  2. Customer-centric repayment plans and extension
  3. Multiple loan collection channel ( E-wallet, Bank, OTC)
  4. Multichannel communication system (Push notification, E-mail, SMS)
  5. Loan based penalty
  6. Gamification and loyalty programs
  7. Loan write-offs
  8. AML reports