Genoapay announces 26 new partnerships
3 October 2019
Genoapay announces 26 new partnerships enabling New Zealand customers to make purchases over 10 payments
Latitude Financial today announced that it is partnering with 26 new merchants to offer Genoapay, Latitude’s digital payments platform in New Zealand which enables customers to make purchases over 10 weekly payments with no interest.
The new partners include New Zealand’s leading toy distributor Toys.co.nz and major retailers Big Save Furniture, Shoe Connection and catch.co.nz. Customers will be able to use Genoapay to make purchases online or in-store at any of the 26 new partners’ physical outlets across New Zealand.
Developed in New
Zealand, Genoapay has enjoyed rapid growth since it launched
in August 2016 and was acquired by Latitude in December
2018. It successfully launched in Australia last month as
Genoapay helps customers pay for purchases over 10 weekly payments with no interest or account fees. More than 3,000 New Zealanders are signing up to Genoapay every week to shop at over 2,700 businesses, including some of the biggest brands in New Zealand such as Harvey Norman.
Genoapay founder and Latitude General Manager Buy Now Pay Later Shaun Quincey said that the popularity of payments solutions like Genoapay among consumers is showing no sign of slowing down.
“It’s not just a win for the consumer – we’ve seen some New Zealand merchants experience 40 per cent growth since adopting Genoapay, from small beauty salons right through to nationwide retailers like Harvey Norman”.
Latitude MD and CEO Ahmed Fahour said the new partnerships meant Genoapay now reached tens of thousands more customers in New Zealand across a wide range of retail segments.
“We are thrilled with the momentum that Genoapay is gaining with merchants and their customers, who are attracted to the flexibility of paying for their purchases over 10 equal payments, with no interest,” he said.
“For many of our partners, Genoapay is a natural extension of what we already provide with interest-free instalment options for larger purchases over $1000. Genoapay offers merchants some of the lowest merchant fees in the market, as part of our commitment to helping them grow their businesses.”
Genoapay account at www.genoapay.com, or through the online
stores of partners, takes just 90 seconds and customers can
get instant approval for spending amounts of between $150
Once signed-up, New Zealanders can shop on their mobiles or in-store using Genoapay and pay for purchases over 10 weekly payments, with no interest.
Every consumer undergoes a credit and ID check as part of Latitude’s ongoing commitment to acting responsibly.
Genoapay extends Latitude's highly successful payments and instalments platform, which for more than 30 years has helped customers pay for larger purchases with interest free instalments.
Genoapay face no fees or charges when they pay on time. A
late fee of $10 is charged for missed payments, capped at
$10 for balances less than $50, or $50 for larger
Latitude Financial is a leading digital payments, instalments and lending business with 2.6 million customer accounts and over 1,950 merchant partners that operate more than 9,000 online and physical outlets across New Zealand and Australia.
The new Genoapay partners include:
• Big Save Ltd
• Shoe Co Limited
• YOLO Beautique
• Bedpost Dunedin
• Turangi Computer and Mobile Repairs
• Yumyumkids Ltd
• APAC Health & Medical NZ LTD
• Te Kauwhata Dental LTD
• Hibiscus Coast Panel Beaters
• Evolution Hairdressers
• Into Blinds
• The Guest Room
• About Body
• The Little Red Fox Ltd
• Just Laptops Ltd
• Emma's at Oxford
• La Belle Vous Beauty Therapy
• LW Creative
• Barefoot Beauty
• Kalon Beauty & Spa
• Polly's Patchwork
• Total Image Beauty Therapy Clinic
• AR Dental Limited
• Piwari Collections