What is lease-to-own?

Lease-to-own, also known as “rent-to-own,” is a flexible purchasing arrangement that allows customers to acquire a product immediately while paying for it over time. This option is particularly advantageous for those with a low credit score, or who prefer not to immediately commit to a complete purchase.

How does lease-to-own work?

In a lease-to-own agreement, the customer gains immediate access to the product but pays for it in installments over a set period. Once all fees are completed, the customer becomes the outright owner of the product.

Benefits of lease-to-own

  • Immediate access: Customers can enjoy their purchases immediately, without the burden of a full upfront payment.
  • Improved affordability: Spread-out payments make products more affordable for customers.
  • Enhanced approval rates: Good embedded finance platforms with multiple lenders that utilize a lending network and waterfall financing, have a higher chance of POS financing approvals.
  • Flexibility: Some embedded finance platforms offer various repayment terms and options under the lease-to-own option, accommodating different financial situations.

Limitations of lease-to-own

  • Higher overall cost: Lease-to-own arrangements often result in a higher overall cost compared to purchasing the item outright.
  • Limited flexibility: Lease-to-own contracts can lack the flexibility of traditional leases or outright purchases.
  • Market depreciation: If the item being leased depreciates in value, the customer will end up paying more than the item is worth.

Lease-to-own is one of the many POS financing solutions available on ChargesAfter’s embedded finance platform, giving shoppers access to financing choices and personalization.

Lending network

What is ChargeAfter’s lending network?

ChargeAfter’s lending network is an innovative multi-lender embedded finance platform designed to transform how consumers access POS financing. It enables merchants to offer personalized POS financing options to customers, either in-store, online, or at any shopping touchpoint. Our lending network is a culmination of multiple lenders, brought together under one seamless embedded finance platform, providing customers with multiple POS financing choices tailored to their needs.

How does a lending network work?

  • Integration with Merchants: Integration of a multi-lender lending network with merchant systems allows for diverse POS financing options directly to customers at the point of sale.
  • Customer Application: Customers can apply for point-of-sale financing through a simple, quick, and non-intrusive process.
  • Multi-Lender Options: The platform presents multiple point-of-sale financing offers from various lenders within the lending network, ensuring a higher chance of approval.
  • Waterfall Financing Technology: Good embedded lending network platforms utelize waterfall financing technology which automatically cascade to the best lender in the lending network, increasing the point-of-sale financing approval rates.

Benefits of embedded finance platforms with a lending network

  • Increased Sales: Merchants can boost sales and average order values by providing flexible point-of-sale financing options through multiple lenders in the lending network.
  • Customer Satisfaction: Offering various POS financing options through a lending network enhances customer satisfaction and loyalty.
  • Easy Integration: A good turnkey lending network solution easily integrates with existing merchant systems and ecommerce platforms

Benefits for customers

  • Personalized Options: Through a good lending network, customers receive POS financing offers tailored to their credit profiles
  • Higher Approval Rates: The multi-lender lending network approach increases the likelihood of POS financing approval.
  • Convenience: Easy and quick application process with immediate POS financing decisions.

Why choose ChargeAfter’s lending network?

ChargeAfter’s Lending Network is more than just an embedded finance platform; it’s a platform for business growth and customer satisfaction. It’s designed to meet the evolving needs of modern retail, offering a solution that benefits both merchants and customers alike.

ChargeAfter’s Lending Network is a comprehensive, customer-centric solution in a world where POS financial flexibility is vital. We are committed to empowering merchants and delighting customers, one transaction at a time.

Lending Hub

What is the ChargeAfter Lending Hub?

The ChargeAfter Lending Hub is a comprehensive all in one white label consumer POS financing platform built for banks and financial institutions to provide them with the technology they need to create, manage, and distribute a wide range of lending products and services. Through the Lending Hub banks can quickly and efficiently offer their lending services to merchants and shoppers at scale without taking away resources from their core banking activities.

The ChargeAfter Lending Hub enables banks to swiftly deploy and manage a wide range of finance products, including short and long-term installment loans, Buy Now, Pay Later (BNPL), revolving credit with installments, and private label credit cards (PLCC) to personal loans, project loans, and other lending assets — all consolidated within a single, streamlined POS financing platform. The Lending Hub is a white-label POS financing platform, allowing financial institutions to seamlessly integrate and customize the platform under their own brand for a personalized and cohesive customer experience.

Key features of the Lending Hub platform include rapid merchant onboarding, merchant integration through APIs and SDKs, branded eCommerce extensions, merchant self-service management tools, analytics, complete lending program management, and merchant oversight and much more. The Lending Hub also provides a robust BI reporting suite for banks and merchants alike with comprehensive insights to their overall financing program.

Learn more about how the ChargeAfter Lending Hub serves top tier banks.