API integration

What is API integration?

API, short for Application Programming Interface, is a set of rules and protocols that enable different software applications to communicate with one another.

API integration is when developers use APIs to seamlessly integrate external services, systems, or platforms into their own digital environments and exchange data in real time.

How ChargeAfter utilizes API integration

ChargeAfter’s embedded lending platform can be integrated by merchants in three different ways. Its API provides a standardized way for developers to access and interact with ChargeAfter’s features and functionalities and manage the financing process from application, to approval, to post-sales management,. The API enables merchants to integrate ChargeAfter’s embedded lending platform directly into their own systems, applications, or websites.

Through the API, merchants can leverage ChargeAfter’s capabilities to enhance their checkout processes, offer flexible consumer financing options, and provide a streamlined and customized consumer financing experience to their customers. The API plays a crucial role in fostering interoperability and ensuring a smooth and efficient integration of multiple lenders into omnichannel points of sale.


What is Annual Percentage Rate (APR)?

Annual Percentage Rate, commonly known as APR, is a standardized metric used to express the total cost of borrowing over a year. It goes beyond the nominal interest rate by incorporating additional fees and charges associated with a loan, providing a more comprehensive picture of the true cost of credit.

APR in Consumer Finance

For consumers, APR serves as a valuable tool for comparing and evaluating different consumer finance options. It enables individuals to assess the overall cost of a loan, including interest and fees, allowing for informed decisions about the affordability and competitiveness of various credit offers. Lenders are typically required to disclose the APR to borrowers, promoting transparency and aiding consumers in understanding the long-term financial implications of their borrowing choices. In essence, APR is a key financial metric that empowers consumers to make well-informed and responsible decisions when engaging in credit transactions.

How ChargeAfter helps merchants offer consumer finance with a competitive APR

During this period of high inflation, credit card APR has surged, with some consumers contending with a 27% APR, prompting them to seek alternative consumer finance options. As point-of-sale financing and underwriting technology has developed, consumer finance products have emerged, propelled by fintech companies. ChargeAfters’ embedded lender network provides a range of loan options, including some with 0% APR. Merchants that embed ChargeAfter’s embedded lending platform can integrate multiple lenders into their checkouts and offer their customers point-of-sale financing with a competitive APR.