SWAP teams up with Dana to launch 'Buy Now Pay Later' proposition

Re-commerce platform SWAP has teamed up with Dana Fintech, a finance and credit scoring platform, to launch a buy-now-pay-later (BNPL) product for SWAP users.

Under this partnership, both companies will build an ecosystem to enable underserved consumers to buy mobile handsets, laptops, consumer electronics, and bikes on instalment-based payment plans, leveraging SWAP's re-commerce platform and Dana's embedded lending technology and BNPL engine.

SWAP CEO Parvez Hossain said, "This partnership will open up new opportunities for SWAP users to have a frictionless affordable payment plan to buy already affordable pre-owned products from SWAP. This strategic alliance will help us to assess the risk score of underserved users and help them get access to technology with delayed and convenient payment options. More people will be able to buy phones and laptops and help the vision to make Digital Bangladesh." 

Dana Co-Founder & CEO Gazi Yar Mohammed said "Unique credit card user in our market is seven to eight lakh and a good number of consumers are yet to have an affordable payment plan to buy different products. By partnering with SWAP, we are expanding our BNPL engine to offer seamless and cardless EMI and a new payment proposition to SWAP users."