Scalapay and Twig team-up to help shoppers profit from second-hand clothes
The pair want to promote more sustainable behaviours among shoppers, encouraging them to resell pre-loved items.
European buy-now-pay-later firm Scalapay has partnered with Web3 payments provider Twig to allow customers to resell apparel and electronics purchased via Scalapay and receive immediate payment by Twig.
Twig’s customers get an e-money account that gives them instant cash-outs on items they’d like to sell. Scalapay customers will be forwarded to Twig’s platform to get an instant valuation on fashion and electronic products and have the option to sell their items to Twig in exchange for immediate payment. Twig then sends a pre-paid parcel in the post so the customer can ship the product.
“We want to do our part and encourage our customers to think and act more sustainably,” says Simone Mancini, CEO and co-founder of Scalapay. “If a customer can instantly resell something they have purchased like a dress or a bag then it supports them in buying better quality and even opting for sustainable brands whose products tend to hold their value more over time.”
According to recent research by Twig, nearly 60 per cent of Gen Z consumers consider the resale value when purchasing new items, and more than 30 per cent fund new purchases by reselling old products. The company says it wants to build on this trend to encourage the recirculation of goods. Twig and Scalapay claim that this circularity helps shrink consumption and reduce CO2 emissions attached to the fashion industry.
Twig told AltFi that there are various options following receipt of the customers' pre-loved items.
"Upon receipt and conformity clearance, Twig takes on the further resale of these items for a determined period of time," Geri Cupi, CEO and founder of Twig told AltFi. "In the event that these items do not sell, Twig as a certified B Corporation explores further usage of these items through its network of professional upcycle specialists. The final option as an extended use of the items is donations to qualified partners with the ability to regenerate these items into reusable materials."
“To offer/expose our customer to [Scalapay's] values, services and easily-implemented sustainable practices is a dream,” added Cupi.
Scalapay has also committed to bringing its workforce to net-zero carbon emissions - both in and out of the workplace - via collaboration with Twig’s B2B impact initiative, For the Earth. The initiative helps businesses improve their sustainability practices using Twig’s resources.
Italian fintech Scalapay was founded in 2019 and reached unicorn status in February this year. UK based Twig is another young fintech that is fast gaining traction across Europe, despite having been launched just two years ago in 2020.