Mash and Nets partner for pay later solution across Nordics
Mash and Nets have teamed up to provide a “pay later” solution to merchants across the Nordics.
As the name suggests, this will offer consumers an option to pay later for purchases while “enabling merchants to increase their average basket size, growing their business”.
At the time of purchase a user can select the Mash option from a Nets enabled terminal for instant on-boarding and credit approval. Within 14 days, the consumers will receive an invoice to pay the balance in full or choose to convert the payment into a monthly instalment plan.
“The Nordics are clearly recognised as embracing a cashless society and advancing alternative payment methods. Our collaboration with Nets exemplifies this spirit and enables us to deliver a truly differentiated offering to both merchants and consumers,” says James Hickson, group CEO of Mash.
The Mash solution will be first available in Finland and Sweden followed by Norway and Denmark at an unspecified roll-out date.
This pay later option is quite popular across the globe.
Last month, fashion chain H&M took a stylish $20 million stake in Swedish payment provider Klarna. The latter’s platform will offer instore, mobile and online payments, deliveries and returns, and how and when to pay including the “try before you buy” pay later service.
In July, Indonesia-based FinAccel raised a $30 million Series B equity investment round for its digital payment app Kredivo as it seeks expansion in Southeast Asia. Kredivo – which promotes itself with the slogan “buy now, pay later” – is FinAccel’s flagship product. It enables e-commerce buyers to apply and qualify for instant credit and pay back over time.