We are happy to announce another successful partnership between URBO Studio and NewPay, which all our partners and clients can now take advantage of.
NewPay is the new payment method for online stores such as Buy Now, Pay Later, which is becoming an increasingly popular payment method worldwide.
The main advantage of NewPay is that it allows your customers to “buy” the service of their choice immediately, but actually pay for it after 15 days or in installments. At the same time, you as a service provider also receive its value immediately, as it is paid for by NewPay.
At the moment, end customers have two options, and they will soon increase:
- NewPay Deferred – for purchases up to BGN 400.
The customer has 15 days from the moment of booking and “purchase” of the service, in which to pay the value of his order to NewPay without any increase in price.
- NewPay In installments – for purchases up to BGN 1,200.
The client reschedules his payment (there is no limit to the minimum value of the order) in 3 or 6 equal monthly installments with increase.
Why integrate NewPay into your online store?
1. Convenience for your customers
The convenience that NewPay offers is beneficial not only for the end customers of online stores, but also for merchants. On the one hand, the easy process of using the payment instrument guarantees satisfaction and quality experience for buyers. It is no secret that in today’s world of abundant opportunities, consumers are becoming more demanding and critical of everything they receive and have increasingly serious requirements for the level of service and opportunities they receive. The NewPay method is particularly attractive for more expensive service providers, selling monthly or one-year subscriptions, selling vouchers, ticketing sites and / or last minute offers. By providing such a payment method to their customers, merchants get the opportunity to increase their customer base and revenue.
2. Prepay to merchant and no credit risk
Upon confirmation of the purchase by the customer, you as merchants will receive the money from NewPay within the agreed time. NewPay assumes all the risk, ie. once the transaction is approved, payment is guaranteed for you.
3. Increasing the average value of the shopping cart and repeat purchases and reducing the abandoned carts
The option for quick and easy payment without a limit on the minimum purchase value and without the need for the customer to apply and sign documents for each order, encourages consumers to shop more and more spontaneously, which affects key KPIs such as cart average.
4. Quick and easy integration
If you use URBO Studio i-frame, the integration of this payment method is quick and easy from the admin panel of the platform. The only requirement is that you have signed a contract with Newpay in advance by following the page. Each merchant receives their own account in the platform, where they can track and manage all orders, and access is via email and password.