Archives: News & Press

Momnt Partners with ChargeAfter to Expand Financing Options for Contractors

Source: FinanceWire

New York, February 19, 2025: Momnt, a leading fintech company specializing in real-time lending and payment solutions, has partnered with ChargeAfter, the embedded lending platform for point-of-sale financing, to provide home improvement contractors with a broader range of competitive lending options for their customers.

This partnership enables home improvement contractors using the ChargeAfter platform to offer Momnt’s diverse loan product selection to their customers, leading to increased approval rates and customer satisfaction.

“This partnership with ChargeAfter is a significant step in enhancing the financing options available to home improvement contractors,” said Chris Bracken, CEO of Momnt. “By integrating with ChargeAfter’s platform, we can provide contractors access to a wider range of competitive financing options, ultimately driving higher conversion rates and increased sales.”

Contractors leverage ChargeAfter’s platform to seamlessly connect to a network of lenders, and provide personalized financing options that meet diverse customer credit needs. With a single application, ChargeAfter’s waterfall technology instantly matches customers with the best-fit financing choices. This streamlined approach simplifies the financing process for both contractors and customers, which is particularly important for in-home service, where a secure and seamless experience helps create a comfortable interaction.

“We are thrilled to welcome Momnt to our network further expanding financing opportunities for home improvement contractors and their customers,” said Meidad Sharon, CEO of ChargeAfter. “This partnership will enable merchants to offer competitive prime lending solutions, making home improvement projects more accessible for homeowners. With ChargeAfter’s simple and easy-to-use user experience, post-sale capabilities, and advanced analytics, contractors can seamlessly manage the financing process while maximizing customer approval rates and sales potential.”

Momnt’s technology seamlessly integrates with ChargeAfter’s platform, offering homeowners access to a variety of flexible financing options that can be viewed without impacting their credit score.

About ChargeAfter

ChargeAfter is pioneering the embedded lending network for point-of-sale consumer financing for merchants and financial institutions. Powered by a network of lenders and a data-driven matching engine, ChargeAfter streamlines the distribution of credit into a single, secure, and reliable embedded lending platform. Merchants can rapidly implement ChargeAfter’s omnichannel platform online, in-store, and at every point of sale, enabling them to provide personalized financing choices to their customers. ChargeAfter is backed by investors including Visa, Citi Ventures, Synchrony Financial, Banco Bradesco, MUFG, and more. Learn more at chargeafter.com.

About Momnt

Momnt is a state-of-the-art financial services technology platform that revolutionizes how merchants offer financing. Through Momnt’s embedded lending solution, businesses can effortlessly provide customers with simple, fast, and affordable financing options, all delivered through a seamless process. Momnt drives growth for merchants, extends personalized financing to consumers, and generates new revenue sources for financial institutions. Visit momnt.com to learn more.

ChargeAfter Teams Up with Bread Financial to Offer Flexible Payment Options through its Embedded Lending Network

Source: Finance Wire


With the addition of Bread Pay® pay-over-time options to its network of lenders, ChargeAfter enables merchants to provide qualified customers with instant access to its installment programs

 

NEW YORK, FEBRUARY 5, 2025 ChargeAfter, the embedded lending platform for point-of-sale financing, announced today it has added Bread Pay pay-over-time financing to its network of lenders. Bread Pay is offered through Bread Financial® (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions. This long-term agreement will enable merchants to offer their customers seamless access to Bread Pay’s suite of long- and short-term financing options through ChargeAfter’s platform. Johnson Health Tech is among the first of ChargeAfter’s merchant partners to offer Bread Pay through its platform, enabling shoppers to finance purchases of BowFlex, Schwinn Fitness, and Horizon Fitness products.

ChargeAfter’s waterfall technology enables merchants to deliver instant access to financing choices for customers across the credit spectrum. This is especially crucial for retailers and service providers that sell big-ticket items such as home improvement, electronics, jewelry, furniture, home appliances, healthcare, and automotive. Bread Financial is offered to prime credit customers through the platform, with merchants providing fast and frictionless access to Bread Pay pay-over-time options at every point of sale.

“We know that some big-ticket purchases can be an important decision for many consumers, and we’re committed to helping merchants offer flexible financing options to customers to make those purchases as seamless and affordable as possible,” said Rick Cunningham, Senior Vice President of Strategy and Business Development at Bread Financial. “Our data shows consumers often choose a retailer based on their financing availability when purchasing these big ticket items1. By integrating Bread Pay at the point of sale through the ChargeAfter platform, we’re proud to empower consumers with greater choice and accessibility, taking the stress out of the purchasing process.”

Meidad Sharon, CEO and founder of ChargeAfter added, “We are delighted that Bread Financial has joined our embedded lending network. The integration of Bread Pay products into our platform alongside a Bread Financial retail credit card offering enables merchants to seamlessly provide customers with a broader range of financing options. It is exciting to see merchants such as Johnson Health Tech enhance their prime financing offering with this product through ChargeAfter’s platform. As embedded lending becomes the new industry standard, ChargeAfter empowers merchants to deliver personalization and choices at every point of sale, providing an instant waterfall financing solution that benefits customers, merchants, and lenders alike.”

1From a Bread Financial proprietary survey published in 2023

About ChargeAfter

ChargeAfter is pioneering the embedded lending network for point-of-sale consumer financing for merchants and financial institutions. Powered by a network of lenders and a data-driven matching engine, ChargeAfter streamlines the distribution of credit into a single, secure, and reliable embedded lending platform. Merchants can rapidly implement ChargeAfter’s omnichannel platform online, in-store, and at every point of sale, enabling them to provide personalized financing choices to their customers.
ChargeAfter is backed by payment expert investors including Visa, Citi Ventures, Synchrony Financial, Banco Bradesco, MUFG, PICO Venture Partners, Propel Venture Partners, and The Phoenix. ChargeAfter is headquartered in New York with an R&D center in Tel Aviv. Learn more at chargeafter.com

About Bread Financial®

Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S. consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers.

To learn more about Bread Financial, our global associates and our sustainability commitments, visit breadfinancial.com or follow us on Instagram and LinkedIn.

 

For further information, please contact

Media Relations, Varda Bachrach varda.bachrach@chargeafter.com
Investor Relations ir@chargeafter.com

HP Expands Financing Options for Consumers Across All Credit Tiers

Nearly every U.S. consumer[1] now eligible for financing their favorite HP products on HP.com

Source: HP.com newsroom

 

News Highlights:

  • Empowers U.S. consumers with purchasing power to acquire technology needed to work, live and play
  • Offers financing options for various plan terms to qualified buyers or lease-to-own with no credit needed
  • Positions HP as tech leader with consumer financing options for PCs, printers and peripherals

PALO ALTO, CA, July 25, 2024 — Today HP Inc. (NYSE: HPQ) announced new, comprehensive U.S. consumer financing options for HP products purchased on HP.com[2].  By leveraging ChargeAfter’s technology and collaborating with three leading financial providers – Bread Financial™, Concora Credit and Koalafi – HP can now offer nearly every U.S. consumer[1] a financing option when they shop for personal computers (PCs), printers or peripherals on HP.com.  Finance options include promotional financing to qualified buyers , or lease-to-own options with no credit needed.  Visit HP Financing for more information and details.

With many consumers feeling the increased pressure of high inflation rates, maxed credit cards and limited disposable income, offering consumers more choice in financing has become increasingly important.  In fact, 91 percent of electronics shoppers say it is somewhat to very important that their favorite retailer accepts or offers their preferred type of financing[3].  With these collaborations, HP can now deliver more options to customers across the credit spectrum.

“HP believes that everyone has the right to access the technology that powers our world,” said Deborah Baker, VP, Head of Global Payment Solutions at HP. “We have teamed up with leading financial service providers to help empower the creators, the inventors, and the geniuses of tomorrow. Our new financing options give almost any US customer the financing power to purchase the technology they need to work, learn and play.”

Broader Access to Financing Options with ChargeAfter

Technology has fundamentally changed retail, giving customers more personalization and choice. However, financing at the point of sale is still limited[4] and approximately half of applications are still declined[5]. The problem? Most merchants only integrate with one or two providers, leaving declined customers with no other choices.

With ChargeAfter’s embedded lending platform, HP.com U.S. consumers can now access personalized financing choices from Bread Financial, Concora Credit and Koalafi. By providing some information on HP.com, nearly all U.S. customers are then matched with a suitable financing provider for their specific needs.

“We are excited to support HP’s ongoing commitment to delivering exceptional point-of-sale financing that meets the evolving requirements of their customers and makes cutting-edge technology accessible to all,” said Meidad Sharon, CEO and Founder of ChargeAfter. “This collaboration showcases ChargeAfter’s role as a pivotal partner in revolutionizing point-of-sale financing for major retailers. We look forward to continuing our journey with HP, driving innovation and customer satisfaction together.”

Private Label Credit Card and Buy Now, Pay Later

Bread Financial will initially offer a private label credit card and buy now, pay later options in 2025. Customers will first prequalify with Bread Financial on HP.com for all financing options with minimal customer data required.

“As a leader in promotional financing in the consumer technology vertical, Bread Financial is proud to extend our capabilities and seamlessly offer a tailored payments experience to HP’s customers,” said Val Greer, Executive Vice President and Chief Commercial Officer, Bread Financial. “We look forward to helping HP drive sales and empower their consumers with the right financing options for their specific needs.”

Non-Prime Access to Credit

Concora Credit can help HP non-prime consumers gain access to credit. With non-prime credit cards, customers can spread their payments over time to meet their budget needs.

“At Concora Credit, we are focused on helping non-prime consumers do more with credit and are excited to work with HP to help their qualified customers gain access to leading technology,” said Bruce Weinstein, President and CEO of Concora Credit Inc.

Lease-to-Own

Koalafi offers convenient and transparent lease-to-own financing to consumers who may not qualify for traditional loans, ensuring more HP customers can get the technology they need, while enjoying the benefits of flexible payment options. With a lease, customers can make fixed payment amounts over a maximum of 12 or 24 months and have the flexibility of paying off their lease early to lower financing costs.

“The HP team shares our passion for delivering exceptional experiences to every customer, regardless of where they are on their financial journey,” said Boomer Muth, CEO of Koalafi. “HP’s technology has the power to positively transform lives and ignite joy, and we’re thrilled to help more consumers seamlessly access HP products.”

Availability

HP’s new financing options from Bread Financial (private label credit card) and Koalafi (lease-to-own) are now available to HP.com customers in the United States.  Financing options from Concora Credit are expected to be added in August 2024 and buy now, pay later options from Bread Financial are expected in early 2025. HP plans to expand to other HP.com stores in other markets in the future.

About HP

HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: http://www.hp.com.

[1] Excludes U.S. consumers with a history of fraud and/or those who are unable to verify their identity. Other exclusions may apply.
[2] Excludes gift cards and subscriptions.
[3] Sales Finance Study, Bread Financial, September 2023
[4] ChargeAfter-commissioned research with Global Surveyz 100 executive retail decision-makers in the US, December 2022
[5] Data extracted from ChargeAfter platform, January to May 2024.