How ChargeAfter’s Waterfall Consumer Financing Platform Benefits Shopify eCommerce Retailers
Waterfall consumer financing is proving exceptionally beneficial for Shopify eCommerce retailers, and no waterfall financing platform is providing quite as much value to these online retailers as ChargeAfter. The powerful, seamless, and affordable ChargeAfter waterfall financing platform is one of the most sought-after among the best Shopify stores for its ability to provide consumers with the ultimate online shopping experience and, in turn, encouraging business growth among partners who have integrated the platform. In this article, we share more information about this waterfall consumer financing platform as well as highlight the benefits that it could offer your Shopify eCommerce store.
What is ChargeAfter’s Waterfall Consumer Financing Platform?
ChargeAfter’s waterfall consumer financing platform is a multi-lender checkout plugin that gives customers shopping with Shopify stores access to consumer financing at the simple tap of a button. How it works is that consumers request financing and receive almost immediate access to a trustworthy lender with repayment plans that include zero additional interest. The request is funneled through a series of prime and subprime lenders until the request is accepted by a lender willing to loan them money, and this happens all on the back-end from your Shopify store. This is exceptionally powerful as most financial service providers are incapable of offering repayment solutions as competitive as this and shoppers do not even have to leave your store to have access to financing solutions.
How Does it Benefit Shopify Retailers?
So we know that this integration is extremely beneficial for the consumers, but how does it benefit the retailer? Well, marketing teams are very much aware of the fact that sales depend heavily on factors that affect customer experience. And, the checkout stage is the most critical part of the customer journey as this is where financial decisions are made. Funneling customers through the checkout process is crucial to business growth, and this can be promoted in the following ways with the integration of ChargeAfter’s waterfall financing platform:
More Customers Shop More Frequently
By integrating ChargeAfter’s waterfall consumer financing solution, you give more customers access to quick financing solutions that allow them to order the items on their wishlists. More shoppers in your sales funnel are capable of shopping on a more regular basis, especially considering that the zero-interest repayment plans mean that they are more inclined to make a purchase. By raising your daily orders, you can drive up monthly sales volumes.
Customers Return More Frequently
The perk of partnering with ChargeAfter is that you promote customer satisfaction among your existing and loyal consumer base. Acquiring new customers is costly, so retargeting existing shoppers is a much more budget-friendly Shopify strategy that can be harnessed with greater results through the inclusion of waterfall financing. This is because shoppers who already trust your brand are able to make frequent orders of their favorite items without having to dip into their savings or pay costly interest-based monthly installments.
Customers Purchase Larger Carts
Another extremely beneficial factor regarding the introduction of a buy now pay later platform is that it encourages consumers to make larger orders. Shoppers who may have previously been unable to order large ticket items, like furniture or TVs, are now encouraged to do so as they do not have to fork out large sums of money as with the hefty interest rate repayment solutions offered by their financial service providers. The integration of ChargeAfter allows them to avoid the middleman and get costly items at the best value, driving up your average order values in the process.
From increasing the rate at which shoppers buy from your Shopify store to encouraging customers to return and shop again as well as promoting the sale of costlier items, ChargeAfter’s waterfall consumer financing platform offers Shopify eCommerce retailers a range of benefits.