Scalapay, which claims to be one of Europe’s leading Buy Now – Pay Later providers, and Twig, the “next generation” of banking and Web3 green payment infrastructure, recently announced an “exclusive” partnership.
This partnership will “allow customers to resell products they have purchased via Scalapay and get paid instantly by Twig.”
Scalapay is an innovative payment solution for e-commerce merchants across the globe that “allows customers to buy now and pay later, without interest.”
Their BNPL offerings “include three options for customers (Pay in 3, Pay in 4, and Pay Later) in which customers are not required to make any payments upfront, and can instead opt to pay in 3 installments, 4 installments, or entirely after 14 days.”
They are making the purchasing experience “more delightful and easy for customers by lightening the financial impact.”
Twig claims to be “the next generation of banking, empowering the circular economy, and leading the Web 3.0 green payment infrastructure.”
The London-based fintech is “offering Gen Z and younger millennial consumers an e-money account that gives them instant cash-outs on fashion and electronics they want to sell so that they can focus on building a sustainable lifestyle.”
Scalapay customers will be “forwarded to Twig and will be able to get an instant valuation on their apparel and electronics and sell them to Twig with immediate payment.”
Twig then sends them “a prepaid parcel in the mail so the customer can ship the product.”
Simone Mancini, CEO and Co-Founder of Scalapay, said:
“We want to do our part and encourage our customers to think and act more sustainably. 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.”
This partnership enables Scalapay’s customers “to live more sustainably by avoiding throwing away stuff and letting them live in this secondary life cycle so customers can release instant wealth – cash out through Twig.”
Selling a currently owned item to “free up cash encourages consumers to splash out and buy more new things than they otherwise would if they had held onto the original item for longer.”
Essentially, circularity needs “to work hand in hand with longevity if it’s to shrink consumption and reduce CO2 emissions that the fashion industry is heavily responsible for.”
Geri Cupi, CEO and Founder of Twig, remarked:
“We’re incredibly excited to be working alongside a company like Scalapay. 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.”
According to the recent white paper published by Twig, “almost 60% of Gen Z consumers consider the resale value already when purchasing new items and more than 30% fund new lifestyle goods by reselling old ones.”
As noted in the update, it is “argued that industry actors need to build on these trends and propose a fundamental change in the concept of ownership through increasing re-circulation of goods.”
In addition to bringing an exciting proposition to their mutual customer base, Scalapay is “joining forces with For The Earth by Twig, a B2B impact initiative helping businesses improve their sustainability practices.”
Tapping into Twig’s plethora of sustainability resources as a B- Corp, focused on data, processes, and impact measurement, Scalapay “commits to bringing its workforce to net-zero carbon emissions- in and outside of the workplace.”