SFCC cartridge development for the European "buy-now-pay-later" unicorn growing at light speed.
With the intensive rise of ecommerce, the popularity of "buy-now-pay-later" (BNPL) services has also reached a new height. How does buy now pay later work? The service allows to rationally spend money on purchasing by breaking down a large payment into smaller pieces.
As a rule, the payments are organized in the form of monthly subscriptions. Subscriptions have become the new normal, while BNPL services turned into an inseparable part of the digital shopping culture.
The global BNPL market has generated $90.69 billion in 2020 and is expected to reach $3.98 trillion in 10 years. The key players include Affirm, Afterpay, Klarna, PayPal, Sezzle, Splitit, Scalapay, and many others.
If you visit a European ecommerce website, you will likely see Scalapay as one of the most popular payment options. Since its launch in 2019, the start-up raised $497 million in funding and partnered with 3,000+ online and 5000+ in-store fashion and luxury brands from Italy, France, Germany, Spain, Portugal, Finland, Belgium, Netherlands, and Austria. In February 2022, the company announced it reached a valuation of $1 billion and earned the status of a unicorn.
Scalapay partnered with Grinteq to build an SFCC cartridge to provide merchants with a novel way of flexible payments.
Scalapay is an innovative buy now pay later service provider, making the purchase experience more delightful thanks to a flexible and frictionless payment option. With its help, customers may do shopping in their favorite stores with interest-free instalments and not worry about the costs. To extend the availability of their products to a wider audience, Scalapay decided to proceed with the development of the Salesforce Commerce Cloud cartridge.
Grinteq provided Scalapay with an overview of SFCC capabilities, and hidden roadblocks in different types of architecture. Together we discovered the most convenient way for their partners to add a new payment option to the list.
As a result, merchants can easily install the solution into their environment and use the product to its full potential. It ultimately drives new customers, increases conversion rates up to 11% along with the average basket size by 48%.
We were impressed with the human touch in keeping smooth and qualitative communication throughout the project. The plugin developed by Grinteq has been installed and currently in use on several clients: the product proved resilient, all feedbacks collected are positive.
