View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 28, 2022

ZoodPay, Network International partner to deliver BNPL solutions in Jordan

Switzerland-based ZoodPay has entered into a strategic collaboration with Network International to deliver Buy Now Pay Later’ (BNPL) solutions for latter’s merchants in Jordan.

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

Said to be Jordan’s first and exclusive BNPL solution provider, ZoodPay can be accessed by customers on its marketplace called ZoodMall as well as with online partners on websites and offline partners in malls around the country.

Network International regional managing director Amjad Al-Sadeq said: “In line with our commitment to offer the latest payment solutions to our clients and the Jordanian public, Network International is proud to be the first aquirer to adopt BNPL services domestically.”

The strategic partnership will make ZoodPay BNPL-enabled for several merchant partners of Network International.

The service will allow customers to buy products through app by paying in four monthly installments without any commission or fees.

An automatic service upgrade as the ZoodPay service will be received by merchants already using Network’s POS terminals.

New merchants will have a specially packaged product, including Network’s POS payment solution and ZoodPay’s BNPL service.

ZoodPay and ZoodMall parent firm OrientSwiss Group CEO Michael Khoi said: “Through this collaboration, we will achieve the fastest, biggest and most cost-efficient deployment of ZoodPay BNPL in Jordan with access to thousands of Network International merchant partners.”

Recently, ZoodPay secured $38m in Series B funding round from global and existing investors, including Zain Group’s venture capital arm Zain Ventures.

The funding will be used by the company to advance its growth and expansion across Jordan, as well as promote local and cross-border e-commerce transactions via its marketplace and BNPL solutions.

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International