View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 15, 2018

Fintonic partners with Amazon Spain to finance purchases

Personal finance management app Fintonic has partnered with Amazon to fund its Spanish clients’ purchases made through the e-commerce website.

The initiative will enable the Fintonic clients to defer payments between €200 and €1,000 for up to four months.

Slated to start from the next week, the service will carry no interest.

Fintonic founder and CEO Lupina Iturriaga said: “It’s an exceptional collaboration, as it opens a new way of cooperating between the fintech sector and online distributors, settling new alternatives for users to access e-commerce in beneficial conditions.”

How to avail the interest-free purchases

All interested customers can avail the credit though the Fintonic app, which is available on iOS and Android platforms, in three minutes.

The user will be given a Gift Card for making purchases at Amazon.es. The gift card, valid for ten years, can be used for multiple purchases till the balance runs out.

Fintonic will assess the FinScore index as a reference to profile the financing.

The index utilises more than 160 variables to determine the credit profile of each user by assessing their financial history. Subsequently, it assigns a score between 0 and 900 points.

All customers with 450 or higher FinScore will be eligible for funding. However, all interested customers should sign up to a guest list before availing the service.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Retail Banker International