Skyro pushes Buy Now, Pay Later growth with new portal

Insider Spotlight

• Skyro launched an online Merchant Portal to simplify partner applications
• Partner merchants can offer BNPL and product loans in-store and online
• Skyro says flexible payments can lift merchant sales and repeat visits
  
  
  

Buy Now, Pay Later is gaining traction in the Philippines because it gives shoppers more room to manage purchases while helping merchants close more sales.

Skyro, an SEC-registered fintech lending company, is betting that easier merchant onboarding will bring more businesses into the installment economy through its new online Merchant Portal.

Why it matters

Businesses that partner with Skyro can offer flexible payment options that may drive as much as a 20- percent to 25-percent increase in sales. Small and medium-sized businesses offering installment options can also see growth of as much as 5 percent, with Skyro loans accounting for at least 30 percent of that increase.

“Giving customers access to different payment options, be it in the form of loans or buy-now-pay-later (BNPL), is a win-win proposition both for the customers and for the business,” explained Michael Tabaday, head of SME for Skyro, in a statement.

How it works

Businesses can apply by visiting Skyro’s Business page and clicking “Become a Partner!” Applicants receive results within a few days. Once approved, they can begin offering Skyro loans and BNPL options to customers.

Skyro said the setup requires fewer requirements and simple installation steps, allowing merchants to focus on selling while the fintech supports both in-store and online growth.

“Our trusted partners have seen real results. Apart from repeat customer visits, they have also enjoyed more sales through Skyro’s flexible financing options,” shares Tabaday.

What merchants get

Skyro partner merchants can monitor daily loan transactions and sales through an online dashboard. They also receive marketing support to promote BNPL, along with assistance from an assigned Skyro sales representative and agent.

“Our aim is to help businesses grow and expand. With our easy onboarding process, businesses can easily offer Skyro loans as part of their offerings, helping them grow while giving customers a more flexible way to shop,” shared Nikita Ananev, Skyro product loan lead.

Skyro is now present in more than 8,000 partner merchant stores nationwide and serves over 600,000 active product loan customers. — Ramon C. Nocon | Ed: Corrie S. Narisma