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Limepay
Receive instant approval via text or email with Limepay and pay zero interest.
Limepay is a buy now, pay later platform that’s fully integrated with the merchant’s payment platform. This means that when you checkout, you don’t have to deal with pesky third-party redirects, and can still make a secure, encrypted transaction. Limepay doesn’t charge interest, and their repayment schedule is flexible. Depending on the merchant, your payments could be divided into 4, 6 or 8 instalments. Your first payment will have to be made upfront, and late fees will apply.
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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
Customers benefit from being able to break down their payments into instalments, interest-free – as with other BNPL providers – but while also enjoying a more seamless payment experience. For instance, fast code verification, via text and email, makes it easy to complete a purchase.
Limepay's smart data management also means that customers are "recognised" when they return, making a second/third/fourth checkout experience even more streamlined. On top of this, flexible instalment allow customers to choose the amount and frequency of payments.
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.
