What is ZoodPay? ZoodPay Review, Features

ZoodPay is a Swiss-based digital lending platform that enables e-commerce for untapped and underserved markets. ZoodPay's holistic ecosystem embeds fintech, e-commerce, and e-logistics, enabling over 300 million consumers and 50,000 merchants in Uzbekistan, Lebanon, Iraq, and Pakistan to access financing through innovative distribution.

About ZoodPay

ZoodPay provides leading modern financial services to customers in the Middle East and Central Asia, tailors cross-border buy now, pay later (BNPL) payment solutions for Chinese merchants, and establishes an integrated ecosystem including logistics, finance, sales, and payment. ZoodPay is headquartered in Switzerland, has more than 8 million users and 10 offices in the Middle East and Central Asia, and is currently expanding rapidly in Uzbekistan, Iraq, Jordan, Lebanon, Kazakhstan, Kuwait and other countries.

ZoodPay's buy now, pay later ecosystem includes the ZoodMall platform and the local and cross-border logistics system ZoodShip, which empowers merchants and provides value in one stop, supporting merchants in China, the Middle East, Central Asia, Turkey, Europe and Russia to open online stores in low-penetration and fast-growing local markets.

ZoodPay’s loan products

1. ZoodPay BNPL

ZoodPay BNPL offers a flexible and interest-free payment solution with four equal installments. When selecting this option at checkout, on ZoodMall or ZoodPay's partner's website, users will immediately settle 25% of the amount payable, and the remaining 75% will be evenly distributed over the next three months. Users will not be charged any interest or fees, and the maximum loan amount is $500 or the equivalent in local currency.

2. ZoodPay Credit

ZoodPay Credit is an interest-bearing payment solution that is repaid in 6 or 12 equal installments. The maximum loan amount is $1,500 or the equivalent in local currency.

3. ZoodPay for SMEs

ZoodPay provides 30-day inventory financing, providing businesses with working capital, flexibility, faster inventory turnover and growth opportunities. It also provides warehousing, packaging and last-mile delivery through dedicated fulfillment centers. Merchants will send financing products to ZoodPay's warehouse, where they will be used as collateral along with customer accounts receivable.

Solution

1. Fintech

ZoodPay's core activity in this ecosystem is lending. ZoodPay offers three products:

ZoodPay Consumer BNPL is an interest-free, flexible payment solution that can be paid in four equal instalments. At checkout, customers who choose this option will have 25% of the amount due settled immediately, with the remaining 75% spread evenly over the next three months.

ZoodPay Consumer Credit is an interest-bearing payment solution that is repaid in 6 or 12 equal installments. The customer pays the full cost of the loan, including principal and accrued interest.

ZoodPay provides SME inventory financing to select ZoodPay merchants for up to one month. It also provides warehousing, packaging, and last-mile delivery through dedicated fulfillment centers. Merchants will send financing products to ZoodPay's warehouse, where they will be used as collateral along with customer receivables.

2. E-commerce

ZoodMall is ZoodPay’s proprietary lending marketplace within the ZOOD super app, focused on the demand side or consumers, has a growing user base of over 100,000 as of now, and provides merchants with lead generation opportunities and the opportunity to move their business online without having to go through expensive marketing campaigns.

Given the low penetration and fast-growing nature of countries in the Middle East and Central Asia, ZoodMall's marketplace is an ideal solution for local and cross-border merchants seeking to enter countries in the Middle East and Central Asia through flexible payment solutions. It also helps cross-border merchants overcome logistical challenges in delivery or local settings through fast integration solutions and low search costs, thereby eliminating financial risks by reducing the need to make large investments before testing the market, limiting costs to sales performance alone, and alleviating the cumbersome need to manage customer support.

ZoodMall offers more than 7,000 products from 30 domestic and international sellers, allowing users to purchase goods using ZoodPay's flexible payment solution.

3. E-logistics

Complementing ZoodPay’s ecosystem with e-logistics services, ZoodShip includes fulfilment, consolidation and last-mile delivery to customers’ homes or through ZoodPay’s network of 250 ZoodBox smart lockers (pick-up and delivery points) and collection points.

ZoodShip provides warehousing, fulfillment, packaging, pickup points with fitting rooms, lockers, courier and postal delivery for ZoodPay orders. ZoodShip guarantees faster delivery times and reduces delivery costs, thus improving user experience. It also helps in the daily operations of merchants.

Terms and Conditions of Use

1. User must be 18 years of age or older and be the authorized holder of a qualifying debit/credit card with a valid validity period of at least 3 months.

2. ZoodPay will check the user's eligibility with an external credit reference agency for the user's order approval. The user will receive an instant decision.

3. The user's order amount must be between US$15 and US$1,500.

ZoodPay Applicable Markets

1. Central Asia: Kazakhstan, Uzbekistan

2. Middle East: Iraq, Jordan, Kuwait, Lebanon

3. Other markets are being explored

Advantages

1. Security

As an alternative payment method to cash on delivery, funds are safer.

2. Increase income

Build brand loyalty and acquire new customers with higher order values.

3. Cost reduction

Reduce customer service costs and reduce product returns.