European buy-now-pay-later firm Scalapay has signed a partnership with fintech firm Twig, which provides banking and Web3 green payment infrastructure, to boost the circular economy.
The partnership will enable consumers to resell products they have bought through Scalapay and get paid instantly by Twig.
Scalapay enables e-commerce merchants across the globe to allow their customers to buy now and pay later, without interest.
Its BNPL offerings allow consumers to opt to pay for their purchases in three or four instalments or entirely after 14 days without having to make any upfront payments.
London-based Twig provides Gen Z and younger millennial consumers with an e-money account that provides instant cash-outs for fashion and electronic items they want to sell.
The firm will now offer an instant valuation on the apparel and electronics that Scalapay customers want to sell and offer immediate payment after buying them.
Twig will then send a prepaid parcel in the mail for the customer to ship the product.
Scalapay co-founder and CEO Simone Mancini said: “If a customer can instantly resell something they have purchased like a dress or a bag then it supports them in buying better quality and even opting for sustainable brands whose products tend to hold their value more over time.
“This is central to what we are trying to achieve. By slowing down the payment we want to be for shopping what the slow-food movement is for cooking. Allowing instant resale furthers this.”
Twig CEO and founder Geri Cupi said: “We’ve been growing faster than we ever dreamed (reaching 100,000+ monthly app downloads and the #6 spot on iOS’ Top Finance category) – to collaborate with such a global and successful platform, and to offer/expose our customers to their similar values, services, and easily-implemented sustainable practices is a dream.”
Earlier this month, Scalapay bagged a $27m investment from the Italian service infrastructure network and payment card issuer Poste Italiane.