Buy now, pay later company partners with omnichannel app

Internet Retailing

21st Feb 2017

Buy now, pay later company Openpay has teamed up with omnichannel app RainCheck to drive sales at retail companies that have both an e-commerce and store presence.

The two companies share a vision of the future of retail, where in-store technology drives mobile commerce. Together, they have developed a conversion tool intended to move the customer through buying decision, from online browsing to purchasing in-store.

“It is surprising to many, but retail online sales in Australia are slow, showing a growth of only 2.3 per cent over the past 5 years,” RainCheck’s CEO and co-founder Cameron Wall said.

“The evidence is there that, in Australia, retailers need to need to be utilising tools that get the customers through the door, rather than trying to execute the sale online,” he said.

Technology and data are central for both Openpay and RainCheck, which provide retailers with analytics through their integrated apps. This includes the ability to compare individual store and staff ratings by the customer and understand how far customers travel to store.

The partnership builds on Openpay’s in-store beacon technology and RainCheck’s ability to build customer awareness of stock researched online and available in-store as the customer walks past the store.

“When you start to look at the impact of building customer awareness of targeted product availability together with deferred payment options, before the customer reaches the checkout, it represents a very effective way to assist retailers in driving sales, reaching a highly diverse and dispersed audience,” Openpay’s CEO Simon Scalzo (pictured above) said.

“Mobile has been at the crux of modernising our in-store solution to seamlessly implement purchase opportunities into our users’ everyday activities, when inspiration, intention and proximity collide.”