Murabaha at checkout
The financier buys the basket from the merchant, records ownership and sells it to the shopper at a disclosed price.
Business
E-commerce and marketplaces
Shoppers want to pay over time at checkout; the financier has to buy before it sells.
Marketplaces and online retailers want instalment options at checkout that follow an approved Islamic contract and fast. A murabaha at checkout needs the financier to buy the goods and sell them to the shopper within seconds, with the price disclosed. IslamicOpenFinance™ runs that sequence through one API and routes requests across financiers.
Financial products
What you build on IslamicOpenFinance™
Profit-rate routing
The same request is quoted by several financiers and routed by disclosed expected profit rate, fees and approval status.
Takaful at sale
Product protection is offered as takaful at checkout.
Merchant settlement
The merchant is paid by the financier on the agreed date, reconciled against the order.
Consent for affordability
Shoppers share account data for an affordability check with a stated purpose and expiry.
Value chain
The actors in this chain
IslamicOpenFinance™ connects them with one contract model, one policy and one evidence trail.
ShopperMerchantMarketplaceFinanciersPayment providerTakaful operator
Typical flow
A typical flow, step by step
- Basket
- Consent and affordability
- Quotes from financiers
- Financier buys
- Murabaha sale
- Merchant settled
- Instalments
Live demo
See it in the terminal
A checkout request quoted by three financiers (demo); the one without a recorded Shariah resolution is excluded. Demo data
DemoAll institutions, people, amounts and events are fictional demonstration data. Nothing here is a Shariah ruling, an offer or advice; approving a product is for each institution's own Shariah board and regulator.
Glossary