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Zoodpay partners with Korzinka

Life of Korzinka

December 14, 2022

Zoodpay partners with Korzinka

Life of Korzinka

December 14, 2022

ZoodPay partners with Korzinka, the largest supermarket chain in Uzbekistan, providing interest-free instalments to millions of customers across its all stores.

ZoodPay, a leading digital lending platform for e-commerce in the Middle East and Central Asia, has entered a partnership with Korzinka, the leading and largest supermarket chain in Uzbekistan, to bring new and convenient payment options to customers by integrating ZoodPay’s fintech solutions with Korzinka’s offline purchasing ecosystem.

 

As a part of the agreement, ZoodPay will offer its installment product as a payment option in the Korzinka mobile app and its all stores, allowing customers to purchase goods and pay in four easy interest-free installments.

 

For customers the process is made easy through the seamless integration of the ZoodPay API on Korzinka’s payment platform. When shopping on the Korzinka app, customers need only to select ZoodPay as a payment option at checkout, enter the needed information and receive instant confirmation. When shopping in Korzinka stores, customers need to apply for a shopping limit on the ZoodPay app, select their purchases, scan a QR code at the cashier, approve the payment plan, and enjoy shopping.

 

This payment method will work in test mode until the end of 2022. In case of any errors, customers can contact ZoodPay or Korzinka’s customer support services.

 

“Korzinka” supermarket chain was established in 1996 and counts around 100 retail stores across Uzbekistan. This partnership with ZoodPay makes it the first supermarket chain in the country to provide interest free installments, widening both Korzinka’s and ZoodPay’s ecosystem customer base.

 

Commenting on this latest partnership, Michael Khoi, Group CEO of ZoodPay said, “We are focused on revolutionizing the digital lending industry in Uzbekistan. Our strategy is to expand the ZoodPay ecosystem and bring new and convenient fractional payment options to customers with limited access to banking facilities.”

 

Khoi added, “Partnering with Korzinka, as Uzbekistan’s largest retailer, is a significant boost to our business model in the country, and we applaud the leadership’s vision in valuing the transformation our collaboration is set to bring to both our companies as well as to customers in offline transactions.”

 

ZoodPay currently operates in Uzbekistan, Iraq, Jordan, Lebanon, and Pakistan serving a total population of over 300 million. The company offers consumers a traditional short-term interest-free lending product (pay in four installments) and a longer-term interest-bearing product with 12 installments. The ZoodPay consumer fintech products are distributed across two online channels: the ZoodMall marketplace and on the apps of 1,000+ partner merchant and websites via API, as well as through offline channels, or ZoodPay in-store, which is currently available in 3,000+ stores.

 

ZoodPay also assists Zood SME merchants accelerate their online business through inventory financing, which provides them with monthly inventory financing, the necessary warehousing technology, free online content creation, packing, sorting, and last-mile delivery through dedicated fulfillment centers and e-logistics solutions.