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Dwayne Gefferie Discusses 4 BNPL Opportunities at Divido Kick Off

Written by Jonathan Axup

Payments strategist Dwayne Gefferie opened his talk at Divido’s 2024 Kickoff with a bang this week. 

A social media phenomenon in the payments world, Dwayne started out as a data scientist with ABN AMRO way back when. He now consults on payments strategy for companies from TikTok to MediaMarkt.

Through his research Dwayne identified the four retail finance opportunities going into 2024 for lenders and merchants. Luckily for our clients, Divido’s platform can deliver solutions covering all four areas. 

Dwayne has been looking at sales terminals that enable consumers to quickly make BNPL payments. Instant services available via API and machine learning mean consumers can receive decisions right away at the point of payment. 

Larger terminal displays and creative usage of technology such as QR codes NFC, and mobile apps can enable shoppers to self-serve retail finance in-store. Removing the sales person from the application process can free up staff time, better protect personal data and avoid embarrassing situations with declined applications.

Consumers shopping online are accessing stores worldwide, with shipping across borders, and from local warehousing. Payment methods are becoming international and that should include retail finance too. 

This is a triple win situation, with lenders growing their consumer accounts, merchants closing more international sales and consumers buying what they want from merchants and lenders they trust.

Many platforms provide total solutions to their customers. You have Shopify for example, building an ecommerce platform, and then moving into payments. It will be the same with retail finance. We’ll see more and more of these platform owners offering retail finance as an embedded service. Customers will simply need to activate the service, making the experience much more seamless as a result.

You heard the opportunity – an annual growth rate of 44.6%. Traditional retailers are super focused on conversions, and they won’t ignore this. Where traditional retailers are not already in the retail finance space, they will certainly become active very soon, or they’ll miss out on huge revenue opportunities.

When asked about buy versus build for established companies looking to enter the embedded lending space, Dwayne said,

HSBC is currently working on an embedded retail finance solution using the Divido platform. 

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