Simpl Pay-in-3 Introduction

Simpl Pay-in-3 is targeted primarily toward D2C & e-commerce organizations that sell their goods and services online.

Pay-in-3 works well with larger ticket sizes & longer frequency buys; increases cart value (AOV), lowers payment failures, and merchants enjoy shorter settlement periods.

Once a merchant has integrated with Simpl pay-in-3, the user can pay via Simpl by paying the first installment of three during the time of purchase and the next two in the subsequent months. These installments are interest-free for users.

Merchants are transferred the entire amount in their settlement period minus the transaction fee.

Who is Simpl Pay-in-3 offering’s ideal merchant/customer?

Since Pay-in-3 is targeted at online e-commerce companies and the emerging D2C segment in India, let’s look at three such profiles of merchants.

For the teardown, let’s focus on Naina Malhotra, Co-founder & Partnerships@Sneakerheads, and Samarth Patil, Head Of IT & Payments@Indian Ayurveda. (Highlighted in GREEN)

JTBD says?

• Both of these ICPs have their most important goal as increasing the AOV on their website.  (Financial Goals)
• They also want to borrow trust, a social capital from a payment option like Simpl available to their users, increasing reach. (Social Goals)