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Interest-free instalments with Zip, pay in 4

June 9, 2021 | By:

Offer simple and flexible finance options at checkout with Pay in 4 in partnership with Zip. It’s an interest-free buy now, pay later instalment plan that gives your customers more ways to pay. 

Alternative payment methods like buy now, pay later are becoming increasingly popular among consumers. They are expected to double their market share within the next four years, especially with millennial and Generation Z buying demographics. 

At Deko, we understand merchants’ needs to offer more payment options, and we aim to be the finance partner who can help you drive up sales and unlock customer purchasing power. One of the ways we do that is with Pay in 4. 

So let’s find out more about this interest-free payment plan. 


What is Pay in 4?

Pay in 4 lets your customers spread their purchase sizes by splitting the cost into four separate payments. These payments are completely interest-free, meaning the customer doesn’t accrue any added interest on top of the purchase price. 

Payments are due every two weeks, with the first one made at checkout. Pay in 4 is eligible on items priced between £25 and £1000 and seamlessly integrates into your setup. Integrations can be completed without any disruption. 

Customers can also apply with ease. They just need to answer eight short questions before finding out if they’re approved, at which point they can complete their purchase and pay back the cost over four instalments. 


How Pay in 4 helps merchants 

In the UK, 23.7m consumers already use or would consider using buy now, pay later at checkout. Forty-four per cent of buy now, pay later users also actively avoid retailers without their preferred BNPL brands available at the checkout stage.

Using buy now, pay later methods like Pay in 4 offers your customers more flexibility while helping increase sales. It’s all about the numbers game, and Pay in 4 helps increase sales by an impressive 30 per cent. It’s also known to increase order value by 70 per cent and drive repeat purchases by an impressive 80 per cent. 

Partnering with Deko gives you deeper insights into performance, too. Our expert team provides ongoing monthly reviews and performance reporting and has so far handled more than £3bn worth of transactions to retailers. 


Even more flexibility

Using Pay in 4 gives both you and your customers more flexibility. Product integration can be done in hours through our integration partner, so everyone gets set up quickly and swiftly. Using Deko’s ecosystem, merchants can access a range of products that will help offer finance options based on the products you sell and their average order value (AOV). 

As a result, you won’t need multiple finance providers to accommodate the AOV and can benefit from products like multi-lender, a multi-lender panel to ensure that more customers qualify for finance, thus increasing their chances of being accepted.

Another benefit includes having access to Deko’s ecosystem and the instant ability checks that come as an extra feature when you have access to some of our products. All of these bonuses allow customers to pay using the methods they love while enjoying greater flexibility over purchases. 

And most importantly, when consumers use Pay in 4, it’s completely interest-free. By using a range of products, such as multi-lender, you can drive up sales, AOV and increase customer satisfaction. 


Empowering your customers and increasing bottom lines

Giving customers access to buy now, pay later options will help reduce basket abandonment, which is one of the biggest problems faced by retailers. Consequently, you’ll give consumers more spending power to get the things they really like. Using buy now, pay later helps build trust in your brand by 40 per cent, and it’s used by more than 10 million people in the UK.  

So stay ahead of the competition and adapt to modern-day retail that is shaping and shifting the way customers shop. Stay ahead of the curve and increase customer confidence with alternative payment methods like Zip Pay in 4. 

Learn more about Zip Pay in 4 and see how it can offer your customers more financial freedom at checkout with interest-free pages and drive up sales. 

Get started with Deko