Customers of Cloud Nine Hair will now have access to interest-free credit, following a strategic partnership between the hair product retailer and U.K. LendTech provider DivideBuy.
In a Wednesday (Aug. 25) announcement, DivideBuy Business Development Director James Bradley said Cloud Nine’s success in the hair and beauty industry adds strength to the partnership. “DivideBuy’s flexible payments solution is perfectly placed to offer a seamless payment option” for customers of Cloud Nine, “who had more disposable income to invest in themselves during lockdown,” he said.
Changes in payment behavior during the pandemic have caused a significant shift in the retail sector over the past 18 months, Bradley said, with consumers looking for more convenience in how they order and pay for products. “Whether it’s used to buy high-end large-value items like styling appliances, home furnishings or tech gadgets, interest free credit is creating a real service differentiation for retailers that is attracting more customers,” he said. “It’s a win-win situation for consumers and businesses alike.”
Founded in 2014, the consumer retailer credit provider aims to transform the point-of-sale (POS) finance industry through innovation and technology and offers interest free credit through retail partners such as Shopify, Magento, WooCommerce and Craft Commerce.
The company currently partners with over 500 retailers and has already onboarded nearly 30 new retail partners in the first seven months of the year.
The collaboration will enable Cloud Nine, which recently secured a product placement deal with ITV’s Love Island, to make its product range more affordable and convenient.
Speaking about the partnership, Cloud Nine’s Nicki Milner said “these benefits, along with the speed and simplicity of the process is what attracted us to DivideBuy, and we’re thrilled to have them on board to support our future growth.”