GoGet Retail Microfinance enables business-to-consumer transactions, in which a retailer provides credit to customers concerning purchases of any product or service - including big-ticket products - such as home improvements, a new kitchen, a new bathroom, electrical appliances, electronics, travel, furniture, fashion, jewellery purchases and gifts.
Essentially, GoGet Retail Microfinance enables access to high-quality, instant liquidity at the checkout counter for retail customers who may not have gone ahead with the purchase if finance was not available.
Consumers demand a seamless solution when shopping:
- Can not afford to pay upfront the entire amount for larger purchases.
- Unexpected expenses arise all the time, putting financial strain on households.
- Require a quick and flexible solution to finance purchases.
Costly and Hard to Manage
Merchants face a series of problems when trying to set up their own payments scheme:
- Lack of expertise in assessing the creditworthiness of clients.
- A capital-intensive process which restricts other growth opportunities.
- A different process for each merchant creates friction with consumers.
The Solution - Quick and Flexible Micro Loans
Consumers can quickly and easily receive a loan at the counter for up to €10,000! Loans of up to €1,000 are approved immediately!
GoGet provides a complete instalments solution seamlessly integrated with each merchant’s system. What does this mean?
- Provide a financing option to encourage otherwise lost sales.
- Free up capital to use in other areas, such as inventory or expansion.
- No need to set up a complicated system or chase customers to pay.
- Receive the entire amount of the purchase upfront with no delays.
GoGet buys the products at a discount, usually between 5% to 10%, from the merchants and then finances its customers with an extra margin of approximately 10%.