Leading tech platform Spotii rolls out buy now pay later payment solution in Bahrain

(Manama, Bahrain) – Spotii – A Zip Pay Company, and leading tech-enabled payments platform officially launches Buy Now and Pay Later payment solution in the Kingdom of Bahrain, under the CBB Regulatory Sandbox. Spotii provides customers a new intuitive budgeting tool that allows them to split their purchase over 4 interest-free payments. The launch is inline with their vision to build a connected, engaging and passionate experiential payments ecosystem across the MENA region and beyond.

Prior to the official announcement, Spotii signed several major strategic partnerships with local key enterprises to test under the CBB’s regulatory sandbox including YK Almoayyed, Zayani Motors, Bin Hindi Informatics, Alsalam Gas, Homiez, Wafi Apps, AJM Kooheji group as their in-store and online BNPL providers. 

Spotii has established an extensive merchant footprint across the GCC and MENA, with access to over 1,000+ merchants including the UAE and KSA. The platform is planning to announce new GCC locations in the upcoming months. 

Using Spotii is simple! A customer goes to their favorite store, completes a simple digital sign-up process that requires users to simply enter their email, debit or credit card, and a mobile number. Users are approved instantly. Once approved, users can start to split their purchases over four cost-free installments anywhere Spotii is accepted. The service is always free for customers as Spotii earns revenue by charging the merchant. When it comes to merchant onboarding, the platform goes a step further. Spotii undertakes planned co-marketing initiatives to provide tailored support to all merchants on the platform and help them increase their brand visibility.  

Fahad Kazim, General Manager of Spotii - Bahrain, commented, “Spotii’s mission is to empower customers and enable them to enjoy their shopping experience without worrying about excessive costs and hidden fees. At the same time, our platform supports customer acquisition and revenue growth for business owners – it’s a win-win. Merchants in the GCC have seen as much as a 50% increase in average order value, 60% increase in conversion and a 30% lower refund rate since employing Spotii. As today’s youth continues to demand more flexibility and convenience, we are excited to work with a partner that shares our values and is committed to addressing the needs of a new generation of shoppers. AFS’s footprint and payments expertise will allow us to grow our community centered on people and trust.” 

Earlier this year, in June, Spotii was acquired by Zip Co, which is amongst the largest BNPL providers globally. Zip is a publicly listed servicing 10M customers in 13+markets. 

-Ends-

About Spotii

Spotii is a tech-enabled payments platform where anyone can Shop Now and Pay Later with absolutely zero interest or cost. Our mission is to empower a generation to enjoy more today what they will love forever through technology, trust and inclusion.

Growing up during the Great Recession, we at Team Spotii observed first-hand the lasting impact of predatory finance. This inspired us to find a better way to access what we love without fear or worry of overly punitive consequences. We imagined redefining ecommerce around trust. We imagined a vibrant, mobile and social platform for discovering new brands and experiences. We imagined an empowered community. This is why we launched Spotii. 

Our vision is to build a connected, engaging and passionate experiential ecosystem across the MENA region and beyond.

Spotii customer journeys:

• Online Journey
• In-store QR Code
• In-store Payment Link

For more information about Spotii and to view our existing partners, please visit www.spotii.me 

About Zip Pay

Spotii is part of ASX-listed Zip Co Limited (Z1P: ASX) or (“Zip”), a leading global financial services company, offering innovative, people-centred products that bring customers and merchants together. On a mission to be the first payment choice everywhere and every day, Zip offers point-of-sale credit and digital payment services in 13 markets around the world, including through strategic investments, connecting millions of customers with its global network of tens of thousands of merchants.

One of the fastest growing BNPL providers globally, Zip has a presence in Australia, Canada, Czech Republic, India, Mexico, New Zealand, the Philippines, Poland, Saudi Arabia, South Africa, UAE, the United Kingdom and the USA.

Zip provides fair, flexible and transparent payment options to individual consumers and SMBs, helping them to take control of their financial future and helping merchants to grow their businesses. Zip is committed to responsible lending and owns Pocketbook, a leading personal financial management tool. Founded in Australia in 2013, Zip now employs over 1,000 Zipsters worldwide.

For more information about Zip, please visit: www.zip.co 

© Press Release 2022