ZoodPay partners Korzinka, the largest supermarket chain in
Uzbekistan, providing interest-free installments to millions of
customers across its all stores
Revolutionizing the digital lending industry in Uzbekistan
A significant boost to ZoodPay’s business model in the country, servicing shoppers with limited access to banking facilities
Tashkent, Uzbekistan –19th December 2022
ZoodPay, a leading digital lending platform for e-commerce in Central Asia and the Middle East, has entered a partnership with Korzinka, the leading and largest supermarket chain in Uzbekistan, to bring new and convenient payment options to customers by integrating ZoodPay’s fintech solutions with Korzinka’s purchasing ecosystem, both online and offline.
With this agreement, ZoodPay will offer its installment facilities as a payment option in the Korzinka mobile app and 100 stores, allowing customers to purchase goods and pay in four seamless interest-free installments.
For customers, the process is simplified through a frictionless integration of the ZoodPay API on Korzinka’s payment platform. When shopping in the Korzinka app, customers merely select ZoodPay as a payment option at checkout, enter the required information and receive an instant confirmation. When shopping in Korzinka stores, customers need to apply for a shopping limit on the ZoodPay app, scan a QR code at the cashier, approve the payment plan and enjoy shopping.
Korzinka supermarket chain was established in 1996 and managed 100 retail stores across Uzbekistan. This partnership with ZoodPay makes it the first supermarket chain in the country to provide interest-free installments, widening both Korzinka’s and ZoodPay’s ecosystem customer base.
Commenting on this partnership, Michael Khoi, Group CEO of ZoodPay said, “We are focused on revolutionizing the digital lending industry in Uzbekistan. Our strategy is to expand the ZoodPay ecosystem while offering new and convenient payment options to customers with limited access to banking facilities.”
Khoi added, “Partnering with Korzinka, Uzbekistan’s largest retailer, is a significant boost to our business model in the country. We applaud the leadership’s vision in valuing the transformation our collaboration is set to bring to both our companies as well as to customers.”
ZoodPay currently operates in Uzbekistan, Pakistan, Jordan, Iraq, and Lebanon, serving a total population of over 300 million. The company offers consumers a traditional short-term interest-free lending product (pay in four installments) and a longer-term interest-bearing product with 12 installments. The ZoodPay consumer fintech products are distributed across two online channels: the ZoodMall marketplace and on the apps and websites of 1,000+ partner merchants via API, as well as through offline channels, or ZoodPay in-store, which is currently available in 3,000+ stores.
ZoodPay also assists Zood SME merchants to accelerate their online business through inventory financing, which provides them with monthly working capital financing, the necessary warehousing technology, free online content creation, packing, sorting, and last-mile delivery through dedicated fulfillment centers and e-logistics solutions.