Integrating ChargeAfter with Your Magento eCommerce Platform
Magento eCommerce retailers would be wise to consider new strategies for the promotion, acquisition, and retention of consumers shopping on their online stores as more people flock to online retailers for their products. Statistics showcase that revenue generation for online retailers has and continues to show impressive growth, largely linked to growing consumer confidence in online shopping and the need for online retail solutions during pandemic-enforced lockdowns and restrictions. An essential part of the consumer journey that needs Magento eCommerce websites’ attention is the checkout process, and offering point of sale financing solutions may be the answer online retail owners have been searching for in their strategic approach to securing new and sustained customer business.
What is ChargeAfter
ChargeAfter is a platform that connects merchants and lenders to provide online shoppers with accessible point of sale financing options during the checkout stage of their consumer journey. The market-leading platform provides finance coverage for customers to promote business and increase revenue and margins for a range of eCommerce websites, including those operating on the Magento platform. The success of ChargeAfter’s buy now pay later consumer financing systems are linked to its integration of multi-lender platforms with Magento eCommerce partners, a solution that is designed to give more consumers access to the finance required to make a purchase on one’s online store.
Multi-Lender Point of Sale Financing
Typical consumer point of sale financing platforms offer single lender capabilities that limit a customer’s potential access to funding. For example, single lender platforms may deny customer’s financing based on their credit ratings or the price of a particular product. The need for more inclusive systems is evident and ChargeAfter’s implementation of multi-lender solutions comes in to answer these challenges that consumers face.
As a customer approaches the checkout stage of your Magento eCommerce consumer journey, they may use the multi-lender platform to receive point of sale (POS) financing options regardless of product price or credit rating. This is because the system funnels customers from prime to subprime lenders until they are accepted. In providing more customers with financial access to purchase the products in their cart, Magento eCommerce platforms can improve monthly sales figures through the integration of ChargeAfter’s multi-lender merchant platform.
Benefits of Integrating ChargeAfter with Magento eCommerce
There are boundless benefits to integrating ChargeAfter with Magento eCommerce platforms, and we have outlined the three primary advantages that one’s online retail store can leverage through this integration:
Increase Customer Conversions
Connecting customers with multiple lenders means more shoppers will receive access to POS financing, allowing Magento eCommerce websites to deliver personalized and instant solutions based on each individual customer’s online shopping needs. This efficient and efficient process streamlines the customer conversion process, facilitating sales growth through an increase in active shoppers.
Broad Credit Capabilities
ChargeAfter’s multi-lender platform caters to customers across the entire credit spectrum, allowing every visitor of your website to gain access to tailored point of sale financial options and thus improve the rate at which one’s online store experiences sales.
Global POS Finance Support
The multi-lender platform is global, meaning your customers from around the world will have access to reliable and efficient financing options no matter where they are shopping from. This gives every Magento eCommerce website access to a larger consumer pool.
How to Utilize ChargeAfter Consumer Financing with Magento eCommerce
ChargeAfter’s team of skilled technicians and readily available consultants are just a call or email away from integrating the powerful multi-lender platform with one’s Magento eCommerce website. The system is implemented quickly, giving you access to the above-mentioned benefits as soon as possible. Furthermore, ChargeAfter provides continued support and full reporting on your sales growth through platform integration.