Scalapay presents a Milan-headquartered startup that was founded in 2019. Despite its young age, the company has expanded to numerous European countries. The team of the company is based in 5 countries. The BNPL (Buy Now Pay Later) strategy it develops is in high demand at the moment. Though the project resembles other similar companies with the BNPL payment method, it still differs from them due to the details of its long-term strategy.
How it works
Scalapay employs a popular method of payment that allows customers to pay for products and services in 3 installments of the same size. Buying the product, the person has to pay the initial installment. It is possible to use debit, credit or prepaid cards. The size of the order is limited. Customers can’t use the option for commodities over €1500. In some cases, the amount differs. The first installment is paid when the person buys the commodity. Then 2 other installments follow one after another with a month period in between. The last one is taken 2 months after the first payment. There is also an option when customers can pay in 4 installments.
There is no need to worry about the forgotten payments since the facility warns about the payment in advance. The only thing the customer should worry about is having enough money on the due date. If you fail to pay it in time, you’ll have to pay an extra fee for the late payment.
Customers should have sufficient funds to cover the automated payments. In case of failure, clients still have 24 hours to complete it and avoid extra fees. When the delay is a day, the client has to pay 6 euro more. In case the late payment is over a week, then the fee doubles, and the client owes 12 euro. It is worthwhile mentioning that the total size of fees can’t exceed 15% of the loan value (the amount of all three installments).
The benefit of the system is evident. The person doesn’t have to pay interest. The payments are performed in convenient installments. The members of the system can use the option without the necessity to provide any documentation. There are no additional costs and commissions for the service.
The solution is also very convenient for merchants, and increases the purchasing power of their customers. Merchants can get reports that include all payment orders conducted via Scalapay. They can get CSV files in 3 time frames (daily, on Mondays, or monthly).
Customers who want to use Scalapay as a payment method should link it to the account. The system uses bank cards of all famous systems such as Mastercard, VISA, and AMEX. Scalapay can be chosen at the checkout. It is very easy to create an account. The registration is incredibly easy and requires a bank card. The platform guarantees absolute security of payments. It uses a strict AES-256 encryption standard to transmit sensitive data.
How to connect to the system
The team has developed solutions for different content management systems and shopping carts. There are ready-made solutions for Magento, PrestaShop, Shopify, WooCommerce, to name a few. The official website offers the documentation showing how to connect to the API. The developers assure that it is not a problem to connect your store or website even if it is custom. There are three main touchpoints of the purchasing process, therefore Scalapay recommends the integration in one of them. Businesses can do it in product pages, in the payment gateway, and in the shopping cart page.