SnappPay is the first provider of BNPL ( Buy Now, Pay Later ) in Iran under the name of Credit Service, which started providing this service with the aim of creating financial inclusion in 2020.
Year of establishment: 2020
Field of activity: BNPL
SnappPay,BNPL Service Introduction
According to Iran digital economy annotation, this model is one of the newest payment methods in the world, which is very popular, especially among the young generation. The provision of this service by SnappPay was a turning point in the payment and microcredit industry in Iran, which was widely welcomed by users.
By using this payment method, users of Super Snapp application can buy or receive the products and services they need at the moment and return the amount at the end of the month. Currently, the credit service is active for car and motorcycle requests, food orders, supermarket and hyperstar orders, doctor and consultation services, and pharmacy orders.
In this platform two types of credit are granted to users: monthly credit and installment credit. In monthly credit, the user can use various services during the month and pay the final fee at the end of the month. In installment credit, users can pay the final cost of their purchases in 4 installments.
Users do not need to provide collateral or guarantor to use SnappPay credit, and the credit amount is determined based on each user’s credit with SnappPay. According to SnappPay, credit service users use this platform 200,000 times a day to make their payments.
SnappPay also offers a bank credit service in the form of a purchase loan. This loan is granted to the user up to 1000 dollors without the need for a guarantor and only by presenting a fisherman’s check. The repayment of this loan is up to 24 months.
SnappPay’s perspective
Becoming the favorite payment method for online and offline shopping in Iran.
SnappPay mission
By supporting Snapp Group’s mission to improve the quality of life of Iranian people through internet services, SnappPay’s mission is to bring financial freedom to all Iranians by providing better, smarter and more efficient solutions for payment and shopping.
SnappPay Values
– Customer orientation
– Ownership
– Consequentialism
– Thinking outside the box
– Exceeding standards
– learning
– pragmatism
– thrift
