All products are becoming more and more expensive, and a substantial purchase, such as a car, is becoming a financial burden. TBI Bank, the largest provider of Buy Now Pay Later (BNPL), helps customers from Romania and Greece to find an alternative method of financing when buying a car by partnering up with Spotawheel, one of the fastest growing used cars platforms in Europe.
The purchase of a pre-owned car can now be completed more easily and quickly, with TBI Bank's BNPL solution, which came to facilitate payments for products and services. TBI was the first in Romania and Greece to enable the purchase of automobiles in a digital way, adding flexibility to their payment and giving the opportunity to consumers to spread the installments over a period of time of their choice, in order to obtain their own means of transport. It's very simple and without the use of a credit card or a security deposit.
"Among TBI’s goals is to facilitate access to products and services, especially to young people, through BNPL. Working towards this strategic direction, we are very happy to work with Spotawheel, not only because it guarantees quality, but because we are two innovative companies. With our creative ideas and digital services, we interact effectively with our clients", says Kostantinos Tovil, Market Leader, TBI Bank, Greece.
The Bank’s partnership with Spotawheel is bringing added value not only because of the flexible payments model, but the quality and safety of the vehicle chosen to purchase is guaranteed.
The interested customers can visit the website of Spotawheel, browse until they find the vehicle that meets their needs and calculate the installment of the payment plan easily and quickly depending on the time horizon and the price of the vehicle. The approval process is as easy as completing the purchase, which takes place in a secure and digital environment.
The partnership of TBI Bank with Spotawheel is not active only in Romania, but also in Greece, where both companies are operating successfully. TBI Bank network already counts more than 15,000 merchants in various fields, among which auto and moto dealers, electronics, medical services, furniture stores and many online stores.
About TBI Bank
TBI Bank is a Southeast Europe Challenger Bank and BNPL leader in the region focusing on consumer, merchants, and SMEs by providing financing and additional embedded services through a wide network of phygital channels and platforms. Currently the Bank operates in Bulgaria, Romania, Greece, Germany and Lithuania. Through various digital channels, an own network of 300 physical locations and trusted partnerships with almost 15.000 small and large merchants and retailers, TBI has a customer portfolio of almost 2 million clients in 2021, when it issued nearly 500.000 payment plans. Its successful business model and customer-focused approach resulted in becoming one of Southeast Europe’s most profitable and efficient banks.