ChargeAfter Survey Reveals Significant Decline in POS Financing Approval Rates 

Only 2% of merchants achieve approval rates above 80%, a sharp decline from 12%  last year.

Point-of-sale (POS) financing has become a crucial resource for shoppers to purchase the goods they want without relying on credit cards and for retailers to enhance customer satisfaction and drive sales. We conducted our second annual survey to understand how merchants are meeting their customers’ financing needs and the challenges they face. The results shed light on the current state of POS financing, revealing an over 50% increase in merchants reporting below 60% approval rates.

Key Findings

Among the key findings, the survey discovered that an average of 40% of annual gross merchant value (GMV) is attributed to financing. Despite the crucial role of consumer financing in sales revenue, most merchants are struggling with approval rates, which have sharply declined compared to last year. In 2024, only 2% of merchants are achieving approval rates above 80%, a sharp decline from last year’s 12%

Retailers recognize the need to address these declining approval rates with 78% of respondents saying that point-of-sale financing is a strategic priority over the next 12 months. 

Unlock the Full Report

For a deeper dive into the survey’s findings, download the full report “Point-of-Sale Financing: Key Trends and Retailer Insights 2024 – 2025 here. 

About Varda Bachrach
Varda has over 20 years of experience in marketing, content, and communications, most recently in fintech start ups where she loves simplifying complex messages.