It is becoming more and more common make purchases and, instead of paying everything at that moment, split the payments, or pay a few days later. For this, there are several options but one of them you may have seen in online stores and you have not known if it is good or not. Do you know how postpone me works? And what it is?
If you have not heard of it but you have seen it in some eCommerce, then we are going to help you understand what it is, what its origin is and how it works. So you can make an appropriate decision about whether to use it for your business or on a personal level.
What is Postpone
The first thing we are going to make clear is what Aplazame is, since it is a tool that is not widely known yet, but it can be very interesting for eCommerce or even for individuals who need a “credit” or finance their purchases.
Postpone Me is actually a tool that It is used to defer online payments. To do this, it provides a flexible payment method. It is characterized by not having paperwork, in fact, only with your name, email and the Spanish DNI or NIE (the latter only applies to higher credits) you can request a credit of up to 2500 euros. They use this data to verify that the person requesting that credit is not on any "black list" or that they have problems with the banks (something that makes the platform not trust that they will return the money).
It is not something that has been created new in these years, but It has been operating since 2014 when Fernando Cabello-Astolfi, leader of this financing solution, created it. But, since 2018, when it was acquired by the WiZink Bank group, it has become the only financing that is backed by a bank.
Therefore, we can say that it is Spanish, and that it has “a bank behind it”.
Features of Aplazame
Both Aplazame works and its advantages stand out from those of its competitors. On the one hand, Postpone me «bet on good faith». In other words, it assumes the risk of non-payment and fraud in the event that individuals do not return the money that has been lent to them.
On the other hand, there is a very flexible financing, since it allows you to return the money in payments of up to 36 months (that's 3 years) and you can choose until the day of the month on which you want to make that payment effective.
It also has API and modules for the main eCommerce platforms such as PrestaShop, WooCommerce, Magento or Shopify.
Obviously, not everything is good. We talk about the share of profit on sales. And it is that, for using it, there is a fee of between 0,5 and 1,5% according to the total amount. All this in addition to the applied interest that is usually 24,5 APR.
How it works Postpone me
Knowing how Aplazame works involves determining whether you are going to be an individual requesting its financing service or an eCommerce. In each of them it is different how it acts so we are going to see both cases.
How Aplazame works for individuals
We start with individuals. For them, if you go to the official Aplazame page, you will see that one of the services is «Buy now, pay later».
In this case it offers you the possibility of have a microcredit of up to 2500 euros for your purchases and thus be able to return the money in different terms.
On the one hand, payment in 15 days, that is, the amount of what you buy is charged to you 15 days after buying it (but you can enjoy it from the first day). I would have no interest.
On the other hand, payment in installments. In this case, a minimum initial payment of 10,72 euros but you can decide in how many installments to do it. This last option has no interest if it is paid in four payments. If these payments are exceeded, then interest would be charged.
Actually, individuals do pay for all the product they buy. But Aplazame does it on your behalf, a way to advance the money. Then it is the individual who has to pay off the debt with the platform.
Defer me for eCommerce
In the case of Aplazame for eCommerce, what this financing system offers is being able to put this tool as a payment option for buyers. In other words, in addition to offering payment by card, bank transfer, cash on delivery, Paypal... there is also the option to Defer me, so that they can pay within 15 days or in installments.
The fact that you do not ask for any type of paperwork or payroll to accept the payment and know if it is granted or not makes it much faster. You can choose the payment in up to 36 monthly installments. With the possibility of selecting the month of payment and control the availability of money, that is, if you can afford purchases or not.
You should also know that it is Aplazame who pays for the product. That is to say, the seller who is going to pay is Aplazame while the buyer with whom he initiates a "relationship" is with the platform since it is she who must pay.
In other words, as the owner of your eCommerce you will always receive your money. And it is already the Aplazame platform that is understood with the client (thus assuming the risk for that money loan).
According to the data handled by the platform, they say that Using this payment system increases the conversion rate by 20%. In addition, the average value of the order is multiplied and there is more than 40% recurrence of purchases. That is, they return to buy from the store.
The truth is that there are many stores of different categories that already use it such as jewelry, beauty, sports, education, fashion, furniture, travel… Some well-known names are: Suárez Jewelry, Sánchez Jewelry, La Oca, Dormia, General Optica, Yokono…
Now that you have learned how Aplazame works and what you can expect from this type of financing, if it is what you were looking for, you can see the opinions that this tool has to make the final decision. Of course, be aware that you will have to return the money and it is not good to borrow too much. Have you ever used it?