Limepay

How does Limepay work?

Limepay is a buy now, pay later (BNPL) platform with a difference. The happy marriage between a standard BNPL platform and a payment gateway, Limepay offers an enhanced experience for both customers and merchants. This is because it integrates with merchant checkouts on the merchant site, so customers aren't redirected to a third-party marketplace upon payment – such as with other BNPL platforms – in order to pay for their goods.

Benefits for merchants

Merchants benefit from this in terms of a higher retainment of customer data and relationships, as well as retaining their own branding. And, because customers aren't siphoned off to a third party, they are also not subject to advertisements from potential competitors. Also, if payment is overdue, Limepay handles the follow-up.

Merchants can also customise BNPL instalments as per their brand and industry. For example, high street clothing retailers may opt for customers to divide payments into 4 instalments, while high end fashion brands and furniture retailers might increase these to 6 or 8, in light of the more expensive nature of their products.

Benefits for customers

Features of Limepay

• Ecommerce integration. Limepay integrates easily with most ecommerce sites.
• Payment remains on the merchant's website. Customers are not taken to a third-party marketplace when they pay.
• Purchase behaviour insights. Merchants are informed about customer buying behaviour, in order to improve their marketing strategies.
• Fast approval. Customers receive instant approval via text or email.
• Easy payment. Once customers reach checkout, they'll see a toggle on-site which allows them to switch between paying up-front or paying in instalments. They can then simply choose the frequency of their payments and enter their card details.
• Smart data management. Once a customer has entered their details once, they'll be remembered the next time around.
• All payment types accepted. Limepay accepts all major cards and digital wallets.
• 0% interest. There are no interest charges when using this service.
• Expanding store variety. There's an ever-growing number of partnered sellers.
• Flexible repayment options. Both merchants and customers can customise repayment options.
• Secure to use. Because it's powered by Stripe, Limepay offers high grade security and encryption for users.

Fees and charges

• No interest. Limepay charges no interest to customers.
• Late payment fee. If a customer misses a payment, they'll be charged $5.
• Merchant fee. Limepay provides a small percentage charge for each transaction, similar to how a typical merchant payment gateway would work.

How to apply

For customers, there's no need to apply for using Limepay – simply select the option at checkout. To apply for Limepay as a merchant, click "Go to site" and submit a straightforward application online. You will need to provide:

• Your name
• Email address
• Phone number
• Business name
• Website (optional)
• Estimated annual sales
• Current payment processor

While Limepay may seem like an attractive BNPL solution, don't forget to compare your options first before applying.