suave

About suave

Suave Solutions LLC operates as a financial technology company offering a 'Buy Now, Pay Later' (BNPL) service. The company's platform, Pay with Suave, allows customers to purchase items and pay for them over time through flexible installment plans. Users can download the Suave app, get pre-qualified for a spending limit, and then shop at affiliated online or local stores. At checkout, customers select Suave as the payment method and choose a payment schedule that suits their budget, typically in 4, 6, or 12 monthly payments. The first installment is collected at the time of the order, with subsequent payments automatically collected each month.

The service is designed to integrate directly into a merchant's checkout process. The company also offers a "Suave Anywhere" service that enables users to buy from retailers who don't directly offer Suave but accept credit or debit cards. Suave's business model aims to support responsible spending habits, and it does not approve 100% of all applications. Approval decisions are based on multiple factors, including the customer's payment history with Suave, salary, and the total purchase amount. To mitigate risk and ensure compliance, Suave partners with identity verification services to automate customer onboarding, adhere to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations, and prevent fraudulent transactions. The company is incorporated in Florida and operates in compliance with GDPR.

Suave's platform also includes features for managing and tracking utility bills in one application. By using the service and making timely payments, customers can potentially increase their spending limit. The platform markets itself as an easier way to shop without breaking a budget, giving users a clear overview of their purchases and finances. The service is currently available in Aruba, Curaçao, and Bonaire.