Hepsiburada's Hepsipay Launches 'Buy Now Pay Later' Feature for Hepsipay Wallet Users

Rhea-AI Summary

Hepsipay, the digital wallet of Turkish e-commerce platform Hepsiburada (NASDAQ: HEPS), has introduced a 'Buy Now Pay Later' feature, marking a first for e-commerce in Turkey. This option allows users to defer payments for purchases made through the Hepsipay Wallet for one month. The payment limit is calculated based on individual shopping history. The feature is currently exclusive to products sold by Hepsiburada, with plans for potential expansion to other merchants. This initiative aims to enhance customer experience and demonstrate Hepsiburada's commitment to digital commerce in Turkey.

Positive

• Introduction of 'Buy Now Pay Later' feature enhances customer payment flexibility.
• First e-commerce platform in Turkey to offer this payment option.
• Personalized payment limit based on shopping history could increase customer satisfaction and sales.

Negative

• None.

ISTANBUL, Jan. 25, 2022 /PRNewswire/ -- Hepsipay, the digital open wallet of leading Turkish e-commerce platform Hepsiburada (NASDAQ:HEPS), today announces that Hepsipay Wallet users will be able to 'buy now' and make their payments one month later than the purchase date.

Helping Customers Meet Their Needs

The 'Buy Now Pay Later' feature, the first of its kind for e-commerce platforms in Turkey, will make Hepsiburada's customers' lives easier, offering high-quality products as quickly and affordably as possible. The Hepsipay system calculates a 'Buy Now Pay Later' limit for each customer according to their personal needs, taking into account their past online shopping performance. After the limit is set in the Hepsipay Wallet, customers can shop within the specified amount and delay payments by one month. Hepsipay's 'Buy Now Pay Later' feature is valid for debit and credit cards. The new feature will be used only for products sold by Hepsiburada, with certain basket size and according to customer limits. In the upcoming period, the 'Buy Now Pay Later' feature might be also expanded to other merchants who sell their products on the platform.

Hepsipay General Manager Ozan Bayulgen said: "With 'Buy Now Pay Later' now offered by the Hepsipay Wallet, we can provide financial support to our customers without being dependent on their bank. By offering personalised and innovative financial support for our customers, we will continue to ensure they get the products that they need and make their lives easier with a reliable and fast payment experience. 'Buy Now Pay Later' adds to our industry-leading offering and demonstrates our commitment to Hepsiburada's vision of leading digitalization of commerce in Turkey."

About Hepsiburada

Hepsiburada (NASDAQ: HEPS), is a leading e-commerce technology platform in Turkey, combining a globally proven e-commerce business model with a one-stop 'Super App' to cater to its customers' everyday needs and to help make people's lives better. Customers can access a broad range of products and services including same-day delivery of groceries and essentials, products from international merchants, airline tickets and payment services through Hepsiburada's embedded digital wallet, Hepsipay. As at the end of September 2021, Hepsiburada seamlessly connected 39.6 million members and approximately 67 thousand Active Merchants.

Founded in Istanbul in 2000, Hepsiburada was built to lead the digitalization of commerce in Turkey. As a female-founded organization, Hepsiburada is committed to meaningful action to empower women. Through its 'Technology Empowerment for Women Entrepreneurs' program, Hepsiburada reached over 24,000 female entrepreneurs across Turkey to date.

 

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SOURCE Hepsiburada

FAQ

What is the new feature launched by Hepsipay on January 25, 2022?

Hepsipay launched a 'Buy Now Pay Later' feature, allowing users to defer payments for one month.

How does the 'Buy Now Pay Later' feature work for Hepsipay users?

The feature calculates a payment limit for users based on their shopping history, enabling them to shop and pay later.

Is the 'Buy Now Pay Later' feature applicable to all products on Hepsiburada?

No, it is currently valid only for products sold by Hepsiburada.

What was the significance of the launch of the 'Buy Now Pay Later' feature?

It is the first such offering in Turkey's e-commerce sector, aiming to enhance customer convenience.

What is the stock symbol for Hepsiburada?

Hepsiburada is traded under the stock symbol 'HEPS'.