How Point of Sale Financing With ChargeAfter Can Support Your eCommerce Store’s Bottom Line
Point of sale financing benefits eCommerce stores big and small through its intention to support the customer experience and, in return, drive fast sales. The technique is growing in popularity with a wealth of online retailers choosing to partner with ChargeAfter in an attempt to improve their rate of business growth as well as sustain long-term success. The benefits of integrating consumer financing at checkout with ChargeAfter cannot be ignored as the potential for profitable growth rises exponentially after its implementation.
In this article, we clarify how point of sale financing can support your eCommerce store’s bottom line and support sustainable business growth while beating out the competition.
What is Point of Sale Financing?
Before we can take a closer look at the benefits of ChargeAfter’s financing solution, we need to unpack point of sale financing further and what makes ChargeAfter’s solution the strongest on the market.
Point of sale financing involves a partnership between an eCommerce store and a service provider connected to lenders capable of offering financing plans for consumer purchases. Rather than having to seek the assistance of third-party organizations such as a financial service provider, consumers can receive financial support without having to leave an online store.
ChargeAfter offers the most comprehensive point of sale financing platform on the market. What separates this platform from alternative consumer financing options is the integration of a multi-lender platform with zero interest repayment plans. Consumers that shop with an eCommerce store in partnership with ChargeAfter enjoy the benefit of seamlessly receiving financing at zero-interest with no credit checks and without having to leave the front-end of an online retailer’s website. This offers businesses several benefits that support the bottom line, and we take a look at these below:
Raises Average Order Values
Consumers shopping with eCommerce stores in partnership with ChargeAfter are more likely to place big orders as they are able to afford every product in their cart as a result of the instant financing solution. Furthermore, the lack of interest attached to repayments means that more of these consumers will be confident in their purchase as opposed to those that steer clear from large orders because of the costly loan repayments. An increase in average order values will showcase a greater profit in a businesses books, supporting the case for utilizing ChargeAfter for a stronger bottom line.
Reduces Cart Abandonment Rates
On the other end of the above-mentioned spectrum, customers not only make larger orders but more customers are likely to purchase regardless of their order values. The number of conversions that your business experiences within a month will rise as fewer people are likely to abandon their carts, a key consumer metric that requires attention from business owners and marketing departments. A reduction in cart abandonment will see your online store experiencing a higher frequency of sales as well as increased margins.
Offers Greater Return on Investment
ChargeAfter supplies eCommerce stores with one of the most cost-effective multi-lender point of sale financing solutions on the market to ensure that every client receives the greatest return on their investment. The benefits of utilizing ChargeAfter are in its ability to improve key consumer metrics, such as average order volumes and customer lifetime values, in the most budget-friendly way possible so that business owners see their investment work for them. The integration with this particular consumer financing solution will benefit a businesses bottom line far more efficiently and effectively than alternative consumer financing options available on the market.
Point of sale financing with ChargeAfter may be your ticket to greater sales as well as a more profitable business bottom line!