The leading UK LendTech beat ACI Worldwide, Worldpay and UTP to win the category at the Cards & Payments Awards 2022
Win is a testament to DivideBuy’s recent growth and success following a £300m funding agreement, a broadening of its consumer base and an acquisition of several major retail partners
DivideBuy, the leading UK LendTech, has won the Best POS Solution category at the Cards & Payments Awards 2022, beating ACI Worldwide, Worldpay and UTP, as well as being shortlisted for the Best Consumer Credit Card or Credit Facility category. Following an impressive period of growth for the Stoke-on-Trent company, this important award win paves the way for further growth in 2022 and beyond.
This latest achievement is a testament to how the company is redefining the world of interest-free credit for the modern consumer and further demonstrates DivideBuy’s award-winning POS credit solution in a vastly competitive sector.
The Newcastle-under-Lyme business is committed to offering an ethical and transparent way for consumers to manage their financial responsibilities while also empowering retailers to grow in a challenging and competitive landscape.
Robert Flowers, CEO of DivideBuy, commented, “The Cards & Payments Awards are a prestigious industry standard, and we are delighted to have won the Best POS Solution category and to have been shortlisted for the Best Consumer Credit Card or Credit Facility category. I want to thank the team at DivideBuy for their hard work, dedication, and vision in creating an accessible and ethical payments solution for retailers and consumers across the country.
“This win marks an important moment for DivideBuy as we continue to build on last year’s growth. In today’s complex economic climate, consumers nationwide are looking for a flexible and responsible way to control their finances. As both the technology platform provider and lender, we are able to remain in control of each part of the lending process, making our interest-free lending work in the interest of both the consumer and the retailer. We want to become the perfect credit partner for consumers and retailers, offering the nation’s shoppers truly flexible finance and the ability to make more informed purchasing decisions.”
Last year DivideBuy announced a milestone £300m funding agreement with global investment management firm, Davidson Kempner Capital Management LP, following a broadening of its consumer base, a major shift in consumer attitudes towards interest-free credit and its acquisition of several major retail partners.
DivideBuy also ranked fourth in Deloitte’s Technology Fast 500™ Europe, Middle East & Africa (EMEA) 2019, marking the third consecutive year of inclusion on the list. This is recognition of DivideBuy’s impressive median revenue growth of 19,572% over the term, making it the fourth fastest growing technology company in EMEA, and third in the UK.
Interest-free POS finance is the fastest-growing e-commerce payment method in the world today, accounting for 2.9% of global ecommerce transaction value in 2021 and projected to account for a 5.3% share of the market by 2025 according to a report by WorldPay. This form of affordable credit is also proving to be a hit with millennials, with 54% of UK consumers in this age bracket in a survey by Finder using it as an easy and convenient payment option, in comparison to credit cards that charge interest and higher fees.
