Credit Intelligence joins the “green BNPL” after signing several agreements in Hong Kong
Credit Intelligence strengthens its BNPL offer in Hong Kong and makes a foray into the new âgreenâ BNPL sector.
Innovative fintech company Credit Intelligence (ASX: CI1) is expanding its BNPL business in Hong Kong by foraying into the brand new âgreen BNPLâ segment.
CI1 announced that its Hong Kong subsidiary, HK BNPL Investments (HKBNPL), has entered into a non-binding memorandum of understanding with Baguio Irecycle, CallVU and Hexon Green Capital to work collaboratively on a range of initiatives.
According to the memorandum of understanding, Baguio Irecycle will operate and implement the monthly âgreen planâ, a door-to-door collection service aimed at promoting and raising awareness of recycling.
CallVU specializes in customer relationship management (CRM) system and under the terms it will acquire leads and attract new customers for HKBNPL.
In return, HKBNPL will provide CallVu with access to its BNPL payment platform.
Meanwhile, Hexon is a unique platform for impact investors and green project owners to connect and collaborate in green finance.
The signed deal will see Hexon seek funding from potential investors and provide project funding, allowing each other and HKBNPL to work together and leverage each other’s combined expertise.
Opportunities in green finance
CI1 says the âgreen planâ will have a significant synergistic effect on its existing BNPL platforms for consumers and businesses, and could bring a new source of revenue to the company.
The objective of the Green Plan is to promote and raise awareness of recycling through a door-to-door collection service.
Baguio believes that proper and clean recycling at the source is more practical in indoor premises, as the quality of the recyclable materials collected is higher.
Users can join the monthly Green Plan through the BNPL payment service to recycle glass containers and plastic bottles (PET, HDPE) as well as plastic containers (PP).
They can convert the collected recyclables into iDollar in the iRecycle mobile app to redeem electronic coupons. They will also have the right to regularly receive green promotions or gifts offered by partner merchants.
Although the non-binding MoU at this early stage may not generate additional revenue, CI1 believes it is important because thanks to C1’s own BNPL platform, up to 20,000 customer data can be used. to fit into the new business model in the future.
In addition, the partnership agreement could be important in the future, as Baguio is a company listed on the main board of the Hong Kong Stock Exchange.
CI1’s foray into green finance is timely, given the attention and funds invested in this sector.
The company’s collaboration with Hexon Green Capital could become one of the platforms to get into this lucrative segment.
As a mission-driven green finance advisory firm, Hexon provides a full range of professional services and a collaborative platform for impact investors and green project owners.
Both Hexon and CI1 see the main driver of economic growth in Asia as green finance and investment.
This article was developed in conjunction with Credit Intelligence, an advertiser for Stockhead at the time of publication.
This article is not advice on financial products. You should consider getting independent advice before making any financial decisions.