Embedded Loans and Payments
About
Embedded loans and payments offers third-party distributors with Lendsqr the option to offer loans and payment options to customers on their platform outside Lendsqr.
It is a way to ensure a seamless experience for your customers via Lendsqr's services and lenders.
Embedded Loans
With embedded loans, you can fuel Buy-Now-Pay-Later projects or generic loan services on your platform. Lendsqr's lenders are equipped to perform adequate KYC and power the loans that you give to your customers to service their needs on your platform. In the case of BNPL projects, increase your checkout rate as customers are now assured of loans to finance their purchases.
Embedded Payments
With embedded payments, customers don't need to get loans with a Lendsqr lender. Provided that you have established a relationship with one of our lenders, your customers can now easily pay for purchases using the funds in their account with your partnered lender. This will make payments and checkout on your platform super seamless and easy.
Embedded loans allows you as a third-party to offer loan services to your customers on your platform without having to be a lender yourself.
These loans are typically powered by the lenders on the Lendsqr platform.
Note: Embedded payments only serve for checkout services.
Getting started
Sign up on pecunia.lendsqr.com and contact api@lendsqr.com when done. Ensure you provide a valid business account during the sign up process as this will be the account payment will be made to.
After contacting us, your profile would be set up as a distributor with Lendsqr.
To test the APIs available, you would be provided with a test API key to carry out the integration.
After confirmation of what you have implemented, your production API key will be sent to you over secure channels.
Concepts to understand
Third-party distributor: An external platform (not a Lendsqr lender) that wishes to offer their customers loans or payment options powered by a Lendsqr lender. This platform/partner could be an e-commerce platform wishing to offer BNPL opportunities to their customers with embedded loans or multiple check out options with embedded payment capabilities.
Lender: This is a business that gives out loans via the Lendsqr platform.
Customers: The end users on the distributor platform.
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