The European duo is coming together to empower the circular economy
NEW YORK, May 25, 2022 /PRNewswire/ — Scalapay, Europe’s leading Buy Now – Pay Later provider, and Twig, the next generation of banking and Web3 green payment infrastructure, today announced an exclusive partnership. This partnership will allow customers to resell products they have purchased via Scalapay and get paid instantly by Twig.
Scalapay is an innovative payment solution for e-commerce merchants across the globe that allows customers to buy now and pay later, without interest. Their BNPL offerings include three options for customers (Pay in 3, Pay in 4, and Pay Later) in which customers are not required to make any payments upfront, and can instead opt to pay in 3 installments, 4 installments, or entirely after 14 days. They are making the purchasing experience more delightful and easy for customers by lightening the financial impact.
Twig is the next generation of banking, empowering the circular economy, and leading the Web 3.0 green payment infrastructure. The London-based fintech is offering Gen Z and younger millennial consumers an e-money account that gives them instant cash-outs on fashion and electronics they want to sell so that they can focus on building a sustainable lifestyle.
Scalapay customers will be forwarded to Twig and will be able to get an instant valuation on their apparel and electronics and sell them to Twig with immediate payment. Twig then sends them a prepaid parcel in the mail so the customer can ship the product.
“We want to do our part and encourage our customers to think and act more sustainably,” says Simone Mancini, Ceo, and Co-Founder of Scalapay. “If a customer can instantly resell something they have purchased like a dress or a bag then it supports them in buying better quality and even opting for sustainable brands whose products tend to hold their value more over time. This is central to what we are trying to achieve. By slowing down the payment we want to b for shopping what the slow-food movement is for cooking. Allowing instant resale furthers this.”
This first-of-its-kind partnership enables Scalapay’s customers to live more sustainably by avoiding throwing away stuff and letting them live in this secondary life cycle so customers can release instant wealth – cash out through Twig. Selling a currently owned item to free up cash encourages consumers to splash out and buy more new things than they otherwise would if they had held onto the original item for longer. Essentially, circularity needs to work hand in hand with longevity if it’s to shrink consumption and reduce CO2 emissions that the fashion industry is heavily responsible for.
“We’re incredibly excited to be working alongside a company like Scalapay,” says Geri Cupi, CEO and Founder of Twig. “We’ve been growing faster than we ever dreamed (reaching 100,000+ monthly app downloads and the #6 spot on iOS’ Top Finance category) – to collaborate with such a global and successful platform, and to offer/expose our customers to their similar values, services, and easily-implemented sustainable practices is a dream.”
According to the recent white paper published by Twig, ‘Almost 60% of Gen Z consumers consider the resale value already when purchasing new items and more than 30% fund new lifestyle goods by reselling old ones. We argue that industry actors need to build on these trends and propose a fundamental change in the concept of ownership through increasing re-circulation of goods’.
In addition to bringing an exciting proposition to their mutual customer base, Scalapay is joining forces with For The Earth by Twig, a B2B impact initiative helping businesses improve their sustainability practices. Tapping into Twig’s plethora of sustainability resources as a B- Corp, focused on data, processes, and impact measurement, Scalapay boldly commits to bringing its workforce to net-zero carbon emissions- in and outside of the workplace.
Scalapay is an innovative payment solution for e-commerce merchants across the globe that allows customers to buy now and pay later, in three convenient pleasurable installments, without interest. Spreading payments over time allows consumers to choose what they really love, and gives them access to the best quality, their favorite brand, or item without impacting their budget. Scalapay’s mission is to provide a global platform that is based on pleasure and better consumption choices.
Twig is a London, UK-based new generation fintech, rooted in circular economy principles, founded by Geri Cupi in 2020. Twig’s central mission is to empower consumers to value, unlock, and enjoy the wealth they never knew they had. Users have instant cash access while deposing goods they no longer want- in addition to enjoying traditional banking service benefits (debit card, domestic and international bank transfers). Vis-a-vis this activity, Twig powers the circular economy, making Twig a positive and compelling environmentally conscious choice for the consumer.
Within an accolade of recognition awards, Twig has been named the winner of Fast Company’s World Changing Ideas Award in 2022. Twig recently released its first white paper ‘How Twig Redefines the Future of Ownership and Empowers Gen Z to Live a Sustainable Lifestyle’ Download: https://twigcard.com/white-paper.
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