Spotii expands to Saudi Arabia
Spotii, a relatively new payment service for the retail sector, now offers online shoppers in Saudi Arabia the ability to make purchases, receive goods and pay for them later. Spotii’s proprietary data engine, combined with digital marketing drives new customers to merchants, providing an additive and highly lucrative acquisition channel.
Launched earlier this year in UAE by brother and sister duo, Anuscha Iqbal and Ziyaad Ahmed, Spotii is designed to accelerate the Kingdom's e-commerce and digital payment ecosystem. It provides consumers with the incremental purchasing power to build a retail sector that attracts modern, local, regional, and international brands. Aligned with Saudi Arabia’s 2030 vision, the initiative will help expand the role of e-commerce to 80 percent of the retail sector by 2030.
In a statement to SME10X, Spotii co-founder, Anuscha Iqbal, said, “Since our launch earlier this year, we have grown 130x in UAE. We are currently in UAE and KSA and looking to expand to other markets. Ours is a value-added service retailers provide to their customers and hence the retailers are the ones who pay for the service and merchants using our service have reported that over 40 percent of new customer volume have been driven to their websites by our service.”
Spotii is designed around the goal of helping brands make their product offerings more attainable for its consumers. The team is comprised of strong homegrown talent, based in Riyadh, Jeddah and Dubai, with extensive international experience in ecommerce and online payments, coming from blue chip organisations such as Amazon KSA, Google, Mashreq, Microsoft and Afterpay
Spotii is rapidly making its mark as a trusted and inclusive way for customers to “Shop Now and Pay Later” over four equal instalments with no interest, no cost and no catches. Merchants receive payment upfront via Spotii, but consumers can spread the cost of a purchase over four equal instalments. Retail business owners are already seeing several tangible benefits, including full upfront payment for their sales, larger basket sizes, improved conversion rates and fewer refunds.
Merchants, meanwhile, can quickly bring a new era of payment to their online offering with a few simple clicks to sign up as a Spotii provider over at the website. Spotii then appears as a payment option when customers get to the checkout page, and they can then order and have goods delivered, enjoying hassle free equal instalments.