CONNECTING brands and consumers with flexible payment option.
CliqueFin’s LAYAWAY™ is a save now, buy later platform that enables consumers to purchase products and services via its vibrant marketplace, while removing the traditional barriers of credit and lay-by purchases.
Consumers who are not eligible for loans or are eligible for partial loans use LAYAWAY™ as a convenient method to acquire assets.
“CliqueFin has considered the high unemployment rate, the significant pool of the self-employed that do not have financial profiles, the escalating cost of living and high debt level to create a platform that takes products, services, and opportunities to this market in an assured and responsible manner,” explains Tony Reddy CliqueFin CEO.
The lay-by method to purchase goods is at an all-time high because of the stressed economic landscape of South Africa. One must consider the unnecessary costs and risks involved with this transaction type that the consumer bears.
For example, the cost of travel must be added to the cost of the transaction, sometimes up to 10%, as consumers need to get to the store where they initiated the transaction each month to pay toward the item.
Another risk and stress point that needs to be considered is that high-value goods require a high monthly settlement over a specific time. The consumer is liable for the loss when they cannot fulfil this obligation.
The goal of the LAYAWAY™ platform is to offer maximum flexibility and a seamless shopping experience. Users are fully in control of their funds and benefit from a no-minimum payments threshold, being allowed to pay when they can via interest-free transactions, without punitive cancellation fees and they may access credit to complete the purchase.
“Traditional ways of doing business have been fundamentally disrupted and the digital economy has become a fixture of our world and the way people transact. LAYAWAY™ bridges the gap between brands and the mass consumer market digitally and with flexibility that suits the individual,” concludes Reddy.
For more information go to: www.mylayaway.co.za
