Tag: Meidad Sharon

PRESS RELEASE: ChargeAfter Expands Embedded Lender Network with Wells Fargo

Posted on by ChargeAfter

By expanding its network of lenders to include Wells Fargo, ChargeAfter enables merchants to provide their well-qualified consumers with fast approvals. 

NEW YORK, August 16, 2023 ChargeAfter, the embedded lending platform for point-of-sale financing, announced today that it is partnering with Wells Fargo Retail Services, a division of Wells Fargo Bank, NA that facilitates the delivery of consumer private label and industry credit card programs to retailers.

Merchants that use ChargeAfter’s platform to provide point-of-sale financing will now be able to offer their consumers Wells Fargo’s private label credit programs. Wells Fargo’s private label credit programs are designed to serve consumers with extended promotional terms and fast approvals for qualified consumers. These financing options are critical to retailers and service providers that operate in home goods, home improvement, outdoor living, jewelry, etc. Consumers can access the Wells Fargo private label credit product through a fast and frictionless embedded process at the point of sale. 

Steve Jermier, Senior Vice President of Relationship Management for Wells Fargo Retail Services stated, “Partnering with ChargeAfter enables us to easily embed our private label card products into the merchant’s point-of-sale. ChargeAfter’s simple integration into e-commerce and in-store POS platforms provides consumers with quick and convenient access to our product. This allows our retailers to provide consumers with financing for their individual needs at any point of sale.” 

Meidad Sharon, CEO of ChargeAfter commented, “We are delighted to partner with a global banking leader such as Wells Fargo. Integrating Wells Fargo’s private label credit products into the ChargeAfter platform enables merchants to easily provide consumers with fast access to the best financial choices available. As embedded lending becomes the new standard for merchants’ checkout experience, our platform maximizes customer buying power where it matters most – at the point of sale.” 

About Wells Fargo Retail Services:

Wells Fargo Retail Services, a division of Wells Fargo Bank N.A., facilitates the delivery of consumer private label and industry credit card programs to retailers, manufacturers, distributors, associations, and buying groups in a variety of markets. Learn more at wellsfargo.com/newbusiness.

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

For further information, please contact 

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

Discover the Future of Consumer Financing at ChargeAfter’s Booth at Fintech Nexus New York!

Posted on by chargeafterdev

Join us at the Fintech Nexus New York event on May 10-11, 2023, as we explore the dynamic world of financial technology and its impact on the financial services industry. As a comprehensive media organization, Fintech Nexus delivers vital insights, networking opportunities, and motivation, bridging the gap between conventional finance and its future evolution.

We invite you to visit ChargeAfter‘s booth at this event to witness firsthand how we’re shaping the future of consumer financing. As part of the consumer lending track, ChargeAfter is hosting an insightful panel discussion in collaboration with Citi Bank on May 11th, titled “Will Banks Dominate the Future of Consumer Financing?”.

Take advantage of this opportunity to learn from industry leaders about the latest trends and innovations in consumer financing and how banks are positioned to take the lead.

The panel discussion will feature Terry O’Neil, Managing Director, Head of Embedded Commerce and Strategic Growth at Citi Bank, and Meidad Sharon, CEO of ChargeAfter. The conversation will be moderated by Jeffrey Tower, EVP Business Development from ChargeAfter, ensuring a lively and thought-provoking discussion.

Fintech Nexus New York promises to be an exciting event for professionals from the banking, fintech, and investment sectors, with over 5,000 attendees expected. Be part of this exceptional gathering, and remember to drop by ChargeAfter’s booth to expand your knowledge, forge new connections, and get inspired for the future of finance.

See you there!

PCN Podcast: Solving critical issues within the BNPL market with Meidad Sharon

Posted on by chargeafterdev

Introduction:

 

The consumer credit market has evolved significantly, from its limited offline beginnings to the emergence of point-of-sale financing and Buy Now Pay Later (BNPL) options. These developments have provided consumers with greater choice and flexibility. However, limitations in lending offerings at the point of sale – in-store and online – can still restrict consumer options and hinder merchant sales. This is where ChargeAfter comes in, connecting lenders and consumers at any point of sale, offering a seamless solution akin to how Visa and MasterCard operate in the payment space. In this podcast, Meidad Sharon, the founder and CEO of ChargeAfter, explores the evolution of the credit market and how ChargeAfter addresses the limitations in the current market.

 

The Evolution of the Credit Market:

 

In the podcast, Meidad Sharon discusses how the credit market has evolved from a limited, offline solution to one with point-of-sale financing and Buy Now Pay Later (BNPL) options, offering consumers more choice and flexibility. However, he points out how current lenders tend to focus on specific financial products, credit segments, and territories, limiting consumer options and hindering merchant sale conversions.

 

ChargeAfter’s Solution:

 

ChargeAfter aims to address these limitations by easily connecting multiple lenders and consumers at the merchant’s point of sale, online and in-store, providing a seamless solution similar to how Visa and MasterCard connect the payment space. With ChargeAfter, merchants can access multiple lenders in a single integration, covering the full credit spectrum and offering various financing solutions for B2C and B2B customers. This approach aims to optimize financing options, increase sale conversions, and create a more connected consumer credit market.

 

Support Each Lender Unique Underwriting Model:

 

ChargeAfter presents lending options to consumers based on each lender’s unique underwriting model, which considers various data points beyond credit scores. Consumers can then choose the best fit for their preferences from the available credit options, allowing them to find the most suitable financial solution.

 

Future of the Credit Market:

 

The market now recognizes that BNPL and point-of-sale financing are here to stay and will likely be the future of consumer credit. Consumers are likely to expect all their credit options to be available instantly at the point of sale. Major payment players have adopted consumer finance, including BNPL, within the last 18 to 24 months, merging the previously separate payments and point-of-sale financing markets. This trend indicates that BNPL and point-of-sale financing will become a standard offering alongside credit cards and alternative methods like PayPal.

 

ChargeAfter’s Role in Enabling Regulation:

 

As the BNPL market matures, regulation is essential to protect consumers from over-borrowing and to ensure transparent disclosures. ChargeAfter, as the platform embedding lenders and BNPL providers at the point of sale, plays a significant role in enabling this regulation by connecting merchants to regulated and trusted lenders while providing the best solution to consumers.

 

Demand from Banks to Enter or Expand Their Presence in  POS Financing:

 

There is a growing demand from banks to enter or expand their presence in the POS financing and  BNPL market. They have provided credit for many years and are eager to expand their offering at the point of need with multiple consumer financing products.

ChargeAfter supports banks and financial institutions by embedding them in the merchant’s customer journey, shopping carts, and checkout experiences through white-label BNPL & consumer finance solutions, allowing banks to offer financing to their consumers without being a tech expert or a customer experience expert.

 

Sector-Specific Differences in Financing:

 

Point of sale financing and BNPL vary across different sectors. In industries with high average order values, such as healthcare, home improvement, furniture, and electronics, financing is crucial for consumers, accounting for up to 80% of sales. In other industries, financing accounts for 10%-50% of sales, it is on the rise.

 

ChargeAfter’s Vision for the Future of the BNPL Market:

 

ChargeAfter has a big vision for the future of the BNPL market, anticipating more lenders, financing products, and more consumer financing options. They see new forms of financing emerging to cater to changing consumer preferences, like renting items instead of long-term ownership. As consumer demand increases and the number of solutions are on the rise – the need for an embedded lending platform for POS financing becomes inherent to omnichannel customer journeys, simplifying the consumer financing process end to end. 

Financing data will become increasingly important to merchants, lenders, and financial institutions,  enabling them to optimize their offerings and gain better visibility into consumer behavior. ChargeAfter provides control, connectivity, and real-time matching between consumers, transactions, and lenders while addressing data security and compliance challenges for banks and merchants.

 

 

Conclusion:

The consumer credit market has undergone significant changes, and point-of-sale financing and BNPL options have emerged as key players. ChargeAfter is an innovative solution that connects lenders and consumers at the point-of-sale, offering a seamless and optimized financing option for B2C and B2B customers. Its unique technology simplifies complex underwriting, regulations, and compliance needs. Its data-driven approach allows its partners to maximize the benefits of offering point-of-sale financing. The future of the BNPL market looks bright, and ChargeAfter has a big vision to expand its platform by adding more lenders, financing options, and countries. The credit market continually evolves, and ChargeAfter is well-positioned to create a more connected credit market.

 

Take advantage of valuable insights into the evolution of the credit market and how ChargeAfter is changing the game with point-of-sale financing and BNPL options. Listen to the podcast featuring Meidad Sharon, the founder and CEO of ChargeAfter, now to learn more!