POS Financing: How Furniture Retailers Can Beat Declining Approval Rates

As we enter the second half of 2023, economic uncertainty shows no signs of abating. Big-ticket items, like furniture, continue to be out of reach for many shoppers. This is exacerbated by lenders adjusting their underwriting strategies and approving fewer point-of-sale (POS) financing applications. Despite this challenging environment, furniture retailers can conquer declining financing approval rates and keep their customers happy. We explore how.    

Why Declining Approval Rates Continue to Matter

The current economic landscape, marked by rising inflation and increasing Merchant Discount Rates (MDRs), puts considerable financial strain on consumers. It leads to increased APRs, lower credit limits, and reduced purchasing power. At the same time,  individual lenders are approving fewer applications. This makes it harder for consumers to secure financing for their purchases.

Declining approval rates are likely to continue. Lenders are driven by risk management considerations. They tend to tighten their risk models and underwriting strategies in market instability. This cautious approach aims to protect lenders’ assets and minimize potential losses. As a result, lenders may approve fewer loans, making it harder for borrowers to get credit.

Additionally, regulatory measures play a crucial role in shaping lending practices. Regulators aim to protect consumers from over-borrowing and ensure transparency. They may introduce stricter guidelines and oversight for lenders. This regulatory environment often leads to a more conservative lending landscape. The result is decreasing approval rates, particularly for riskier loan products or borrowers.

How Declining Approval Rates Impact Furniture Buyers 

The decline in consumer finance approvals has clear consequences for retailers. It results in fewer sales and has a negative impact on the customer experience. Meanwhile, there is a shift occurring in shoppers’ credit profiles making the situation more complicated.

Consumers who were once approved by prime lenders at the start of 2022, now only qualify for near-prime loans; near-prime consumers are now subprime borrowers, making POS financing inaccessible for most of an already underserved population for POS financing. A survey by ChargeAfter found that only 17% of retailers offer subprime options.

Another audience to consider is B2B. Many furniture retailers are expanding to serve business clients. This way they tap into new market segments and diversify their revenue streams. Yet, point-of-sale financing for businesses often has approval rates below 15%.

The shift from a single-lender model to a multi-lender solution increases access to best-fit financing.

The Benefits of a Multi-Lender Approach

A multi-lender approach provides shoppers with financing choices. Lenders specialize in lending products usually designed for a specific credit profile. POS financing that meets the needs of the credit spectrum boosts the most important KPIs.

For example, retailers that use ChargeAfter’s platform to manage their POS financing enjoy up to 85% approval rates. ChargeAfter’s data shows that demand for POS financing increased by 62% in Q1 2023 compared to the same period the previous year, while approval rates for retailers using ChargeAfter went up by 14% despite lenders adjusting their credit boxes.

With approval rates from individual lenders fluctuating, adopting a multi-lender configuration is a critical strategy to ensure customers have consistent access to necessary funds in order to maintain and even increase approval rates.

How to Maximize Customer POS Financing Approval

In an unpredictable retail environment, maximizing customer point-of-sale financing approvals is vital. This is why retailers plan to expand their portfolio of lenders in 2023, according to a survey by ChargeAfter

Merchants who try to stitch multiple lenders into omnichannel checkouts run into problems. The process involves complex integrations that can take months to implement. When implemented, retailers then face the complicated challenge of managing multiple systems. This approach provides a poor customer experience, since customers who are declined by one lender have to restart the process or abandon their carts, in a moment of the customer journey when speed and convenience are crucial. A streamlined, efficient application process improves sales conversion and customer satisfaction.

Retailers are simplifying the financing process with a platform-first approach, which is becoming more popular as new technologies emerge.

ChargeAfter: The Platform-First Approach to Point-of-Sale Financing

Point-of-sale (POS) financing has rapidly become a critical aspect of the customer experience, impacting approval rates, average order value (AOV), and customer loyalty. ChargeAfter’s platform-first approach to POS financing provides a robust solution.

With ChargeAfter’s platform, retailers easily embed POS financing into omnichannel purchasing journeys. This connects their customers to a network of over 40 trusted lenders that cover the full credit spectrum using a waterfall approach. The platform introduces a more seamless and efficient process for customer financing, enabling merchants to seamlessly provide a wider choice of financing options.

A vital benefit of a platform-first approach is higher approval rates. More approved applications mean more completed sales, contributing directly to retailers’ revenue growth. Furniture retailers using ChargeAfter’s waterfall platform increased AOV  by 22% in the first quarter of the year in 2022 versus the same period in 2022, suggesting that consumers are turning towards financing to buy big-ticket purchases as prices rise.

A platform-first approach enhances the customer experience, offering a seamless and inclusive financing process. Shoppers enjoy less hassle, more flexibility, and financial empowerment, resulting in a more positive shopping experience and improving customer loyalty. It also provides access to data and analytics on customer financing behaviors. This enhances the understanding of customer preferences, trend(s) identification, and strategy fine-tuning. 

Jerome’s Furniture, a family-owned chain of discount furniture stores in Southern California, improved its financing offer with platform first approach. Since implementing ChargeAfter, the company has seen a 67% surge in financing adoption with consistently high approval rates. The strategy has been so successful that Jerome’s Furniture leverages its financing offer in its marketing campaigns. 

Investing in consumer education around alternative financing solutions could also prove beneficial. Customers will feel empowered and better equipped to navigate the financing landscape as they become more informed, increasing their purchasing confidence. Ultimately, a combination of innovative financial partnerships, consumer-centric policies, and education may bridge the gap between customer desire and purchase reality in these challenging times.

Moreover, a multi-lender platform simplifies retailers’ operational load. It makes it easy to manage disputes and chargebacks, and ensures compliance. ChargeAfter manages the complete post-sale financing cycle leaving merchants to focus on their core business.

In this economic climate, providing a choice of financing offers isn’t a service upgrade—it is a necessity. An exceptional embedded lending experience ensures the stability and longevity of retail businesses and safeguards consumer purchasing power. A multi-lender point-of-sale strategy has become essential for weathering economic uncertainty.


The platform-first approach to POS financing is a multifaceted solution helping retailers to optimize their financing processes. By employing a multi-lender platform like ChargeAfter, merchants can enhance their POS financing approval rates, AOV, and customer loyalty, while offering an unparalleled shopping experience.


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Why ChargeAfter Launched a White-Label BNPL (Buy Now Pay Later) Service

Financing platforms must create new services or integrate existing ones to stay up with the demands of merchants and customers in the market as modern consumer financing develops quickly. Given the intense competition in the market and the growing popularity of BNPL lending, it is difficult to stay on top without modernizing the financing system and providing the highest level of customer service. That has become the reason why the leader in consumer financing, ChargeAfter, has decided to implement BNPL white label services.


What is the BNPL white label?


The company can employ consumer finance in its e-commerce store and brand it under its name when using the BNPL white label services provided by the financing platform. Simply put, the retailing business can make its operation appear more professional and can do so in the simplest method imaginable. Instead of spending a ton of money developing a new finance system, retailers may now provide branded POS financing services by just utilizing the existing model.


Why did ChargeAfter adopt a White-Label service?


As the market becomes more competitive, more BNPL providers are attempting to gain an advantage by introducing fresh services that rival BNPL providers do not. Additionally, BNPL white label has grown in popularity among both consumers and merchants, and since ChargeAfter’s lending platform has always given customers the best services possible, the company decided to implement white label services as well. This will keep merchants informed about the consumer financing industry and allow them to enhance their performance. Retailers are now able to get greater results and rise to the top of the selling sector thanks to BNPL white label, which has its advantages.


Benefits of BNPL White Label


BNPL white label has advantages of its own, much like other consumer financing features. With many BNPL benefits in general, we can go over the following three advantages of white label services:


1.    Makes your Business Well-known and Reliable


White label services, as we already established, are branded with the firm’s name, giving the company a more trustworthy appearance in the eyes of the customer. As the corporate name is less easily recalled than the lending system itself, when customers use consumer financing without a white label, it is typically a one-time transaction. The reason for this is that customers search for the best BNLP lending option rather than the store itself because the financing platform is the one that specifically allows customers to divide their payments, and customers prefer to select the right platform rather than search for the right store online. So, branded finance software will increase customer loyalty and brand recognition for your business.


2.    Makes the Financing Experience Better


When a customer wants BNPL services at the point of sale, they are typically referred to the websites of various financing platforms, where they may have to spend a lot of time filling out numerous forms to obtain the funds they require. In the case of the BNPL white label, the customer fills out the application on the e-commerce website. In particular, when using ChargeAfter’s white label services, the merchant can be confident that the customer will receive credit for the purchase because ChargeAfter provides them with a number several lenders from which the system will select the most appropriate option for their needs.


3.    Boosts Sales and Conversion Rate


As was already mentioned, white label services provide a better user experience, which may be a key factor in reducing cart abandonment and increasing traffic to your websites. By utilizing ChargeAfter’s BNPL white label services, your business can provide the greatest experience to the consumer, which will naturally have a favorable impact on sales and conversion. Buyers want simple financing and a shopping experience.




To sum up, ChargeAfter’s global lending platform has adopted BNPL white label services to stay up with the industry’s rapid expansion and provide the best BNPL lending services to retailers. As consumer finance is becoming one of the main ways to purchase items or services, ChargeAfter makes it possible for consumers to buy things online in the best way possible.


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ChargeAfters BNPL White Label for Banks

Consumer financing in general and Buy Now Pay Later (BNPL) in particular provide clients with funds at the point of sale for the goods or services that best suit their needs. These days, it is the easiest and most convenient means of funding. With the ability to access funds, make purchases, and make payments over time, BNPL has been increasingly popular among clients because of its quick and simple experience. To maximize its benefits, lenders and retailers both use BNPL. They can raise the user base and sales since BNPL lending is the most popular financing option right now and has the most users, which ensures an increase in the clientele for both lenders and merchants and gives them the opportunity to become more successful.

What is BNPL White Label

Large fintech firms, including ChargeAfter, provide BNPL white label services to banks. When a bank chooses to use the BNPL white label option, they have access to all the financing platform’s features and can put the platform on any number of merchant websites that also want to use BNPL lending and consumer finance. The platform is branded with the bank’s name, which is the primary benefit of a white label. Therefore, the BNPL software will be developed by the fintech business, and the bank or the retailer will be able to utilize it under their name, giving them a more professional appearance and winning over more customers.

Using a Viennese Fintech company as a partner, Deutsche Bank recently gave businesses white label services. Retailers can employ the BNPL services and profit from the large bank.

ChargeAfter Global Lending Platform

Additionally, ChargeAfter offers BNPL white label services to banks and retailers. Employing ChargeAfter’s white label services is a fantastic helper for merchants and banks because it provides one of the fastest and most convenient services available. Offering your customers and clients the greatest financing platform could not be easier than this. The ChargeAfter platform has been improved over the years, and as a result, it is currently the most modern and ideal financing software. By utilizing its white-label services, banks may save time and money by using ChargeAfter’s platform with their branding.

Benefits for Retailers and Banks

White label services are one of the best solutions and can be helpful even for large banks, as demonstrated by the case of Deutsche Bank. The basic explanation for this is that BNPL lending and retail finance have both grown in popularity recently, forcing banks to either collaborate with or stay up with smart Fintech firms like ChargeAfter. The banks and ChargeAfter’s worldwide lending platform may work together to create the most appealing financing software, which will be made available to customers at the point of sale. Those kinds of collaborations are giving them more retailer clients as they benefit from the financing platforms as well, and a bigger client base, as BNPL lending, is in huge demand nowadays.


White Label Banking: The Future of Lending Services

White label services are being implemented by more banks, which is increasing consumer demand for BNPL. Traditional financial institutions have begun to collaborate with fintech firms and employ BNPL for banking services since they have observed that shop now pay later offerings are growing more appealing to consumers. Users enjoy digital forms of lending with options that are quicker, safer, and more comfortable, according to research from last year, which demonstrated that BNPL lending, POS financing, and other smart Fintech solutions are essential to the future of consumer financing. So, it follows that to maintain the quick pace of consumer financing advances, an increasing number of banks will work with Fintech firms like ChargeAfter.


Finally, given that banks must work with Fintech firms, we can conclude that selecting ChargeAfter’s leader financing platform for BNPL white label services will be a significant advancement for any institution. Every bank will benefit greatly from being able to participate in modern consumer financing experiences and ensure that their relationship with the retailers and customers is secure and stable through the strongest financing platform of the ChargeAfter network because ChargeAfter’s lending platform is already established and is trusted by many retailers around the world.


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Small Business Benefits To Offering Point Of Sale Financing

Various consumer finance solutions are provided by certain small businesses to their customers in an effort to expand and succeed in business. One of the options is to provide the consumers with the Point of sale financing. Point-of-sale (POS) finance is basically when a business provides credit to its clients so they can pay for goods or services right away. ChargeAfter is a well-known finance platform that offers your clients a variety of reliable lenders with vast experience. Putting it into practice can greatly benefit your company. Customers can use the BNPL (Buy Now Pay Later) option in this way to obtain funds for the goods or services they require right away and pay for them over time. So, what are the benefits of implementing POS financing in your small business?

Boost Sales


Giving customers a variety of consumer financing choices can significantly boost your sales. If you are the one offering the best and most solutions, you can be sure that the customers will choose your company. When people are shopping around for things, they always want to acquire the greatest deal on the market. The data and studies show that BNPL and other online finance choices are growing annually. This draws in more customers and boosts sales, especially if you can provide the best financing platform on your website. ChargeAfter can link your clients with a large number of lenders, giving the customers who use Buy Now Pay Later guaranteed approval and increasing sales for your business.


Better Conversion Rate


Every store today has the same issue: customers are adding things to their online or in-person shopping carts, but they still leave empty-handed. Providing various BNPL alternatives at the point of sale can boost conversion rates for your business. Customers visit your store because they are interested in the things you sell; the only factor that may prevent them from becoming customers is their financial status. You can be sure that more customers will be converted if your business can offer consumer financing choices like POS financing or BNPL. This will increase the number of satisfied customers of your business, and satisfied customers are more likely to become repeat buyers.


More Returning Clients


Providing your customers with the best consumer financing choices may encourage them to purchase your goods in the future. Nothing is guaranteed, but statistics show that businesses that use ChargeAfter as their financing platform have an increase in repeat customers. The reason for this is simple: ChargeAfter provides its customers with the finest financing options under the best terms. Customers will trust you more as a result, and they will definitely return to you the next time they need to make a purchase.


BNPL Increases AOV (Average Order Value)


Customers may end up paying extra when they visit your business if you offer them BNPL and point of sale financing. Consumers can order more goods or services when they have options for financing their demands and can spread out the payments over time. We observed that BNPL choices are raising AOV for businesses, so selecting the ideal financing solution platform, such as ChargeAfter, can raise average order value and boost the success of your company.


Finally, we can state with certainty that your online store should implement various online financing options if you do not want your business to lag behind due to the increased popularity of POS financing, digitalization in recent years, and the fact that the vast majority of customers are making purchases online.


About ChargeAfter


ChargeAfter is a leading multi-lender platform for Buy Now pay later (BNPL) Consumer Financing. It connects businesses with the most reliable lenders, enabling them to offer customers the greatest financing solutions. With the best system of Waterfall Financing, ChargeAfter guarantees BNPL lending to every shopper, by matching the most relevant lender to every client. Using the unique consumer financing technology, ChargeAfter provides all parties, merchants, lenders, and consumers, with the best shopping experience. Phoenix, MUFG, VISA, Bradesco, BBVA, Synchrony, PICO Partners, CITI, Propel Venture Partners, Plug and Play, and other companies worldwide are among the investors of ChargeAfter.


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Benefits of BNPL financing for Businesses and their customers

Nowadays, companies have possibilities to offer their customers different financing options. ChargeAfter is a financial platform that provides businesses with a Buy Now Pay Later option, leading them to get more new customers on the market, increase their income and average order value.

Advantages of Financing for the Customers


There are examples of big companies, which benefitted from a Consumer financing system. Point of sale financing is always a great way out of a situation when a customer doesn’t have enough cash to pay for a product. As more clients are using POS financing these days, that is where ChargeAfter comes in with the BNPL solution for them, to be able to split their purchases over a couple of months, instead of paying them all at once.

A financing platform, such as ChargeAfter, is a new opportunity for the buyer to get different offers from the lenders and finance their needs.


How BNPL Converts More Customers and Increases Sales


All the businesses are having the same issues when it comes to converting customers, companies see how their consumers are adding the products to their carts online, or checking them at shops and still leaving “empty-handed”. Most of the time, the problem is the financial situation at the time. The buy Now Pay Later system has improved those situations for the businesses and the customers.

When the buyers are using Consumer Financing options, they do not have to think about how much money they have at the moment, which gives them the possibility to get a product of a higher price and quality or purchase more quantity of it. With last research, we see that financing platforms are increasing the sales amount for the companies, showing us how businesses are becoming bigger and stronger with the help of POS Financing and the BNPL option.


Higher Average Order Value (AOV)


When you can split the payment for your customers, you are making your merchandise more affordable for them, giving them the possibility to purchase more expensive products.

Many big companies show that after implementing Point of Sale financing in their businesses, the average order value has increased. The reason behind it is that the BNPL gives the consumer the power to avoid fitting the budget process and they can simply purchase the products of their needs. So, if the customer had to buy a product that costs the amount they had at the time, now they can widen their interest, and with the help of Consumer Financing, they can purchase more. It is a great example of how BNPL benefits both companies and consumers and how comfortable solution POS Financing is.


Getting New Customers for the Company


When any customer is looking for an option to purchase a product or a service, they’re always trying to find the best offer available on the market. If the business is offering Point of Sale financing from their side, they have a much higher possibility to be the company that customers need. Consumers prefer to choose the Consumer financing option over paying the price at once.

Companies that have a Consumer Financing option have an advantage over their competitors in attracting new customers. To put it in simple terms, if the buyer has two options, to pay the price totally, or split the payment using BNPL. Even in the situations when the customer has a total amount, they prefer to use the Buy Now Pay Later option, as people don’t want to spend all their finances at once and prefer to save it for emergencies.


Returning Customers Make Businesses Strong


Point of Sale financing programs encourages existing customers to return to businesses and reorder the products or make even bigger purchases. Everyone knows that a happy customer is a key to companies’ success. So, when the consumer already knows how comfortable BNPL is, and how they can use Consumer financing, they will never go to competitor businesses who might not offer Buy Now Pay Later option and will always be the returning customer of the company.

As with ChargeAfter, any business can implement the BNPL option, they can know for sure, that most of their customers will come back to reorder and experience the comfortability of POS financing.

With All these advantages of financing, ChargeAfter can give any company great value, offering them the possibility to close more sales and give their customer a much better experience with Buy Now Pay Later option.


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Podcast summary with CEO Meidad Sharon: Powering BNPL platform with ChargeAfter

Before ChargeAfter


During an interview with The Fintech BluePrint, Meidad Sharon, CEO of ChargeAfter, a top worldwide lending platform, discussed how ChargeAfter was founded and how the demand for consumer financing and BNPL drove him to build one of the best global financing platforms in the world.  Meidad discusses how at the time he worked at SafeCharge Nuvei, the financing and payment market was in desperate need of a smart and quick platform for consumer financing. The right and effective strategy was therefore required to create the firm that would serve as a link between retailers, customers, and lenders and assist them all to have the best possible shopping and business experiences.

What was the best course of action? The key concerns at the time, according to Meidad, were identifying which methods would be successful and figuring out how to apply them. Which customer segment should you target, and how can you convince them to buy your products? How to move your business on the proper path and what the next steps are. The most important step after strategizing is to observe how your plan performs in practice and which market segments it affects. The solutions and the secret to success are revealed in the first results.


Why was ChargeAfter necessary


Meidad Sharon discussed the inspiration behind one of the greatest BNPL Fintech companies in the globe during an interview. Speaking about his experiences while working at SafeCharge between 2010 and 2016, he described how businesses requested consumer financing options like loans and credits to increase sales and the number of customers they had. The prior numbers were incredibly low because only a small portion of customers who were browsing internet shops made any purchases.

“Only 3% of the consumers that are reaching the website end up buying”, said Meidad during the interview.

Due to the rapid expansion of e-commerce and online stores, Fintech businesses have to be established to meet the demands of both customers and business owners. There were two key causes behind that, as Meidad stated. The ability to create a global lending platform to provide consumer financing, and secure payments, because fraud was on the rise, and give all parties the fastest shopping experience was made possible by two factors: first, the innovators became the mainstream on the market, and second, the customers became more sophisticated and demanding.

Meidad responded that the payment is always the end of the tunnel in whatever type of business when asked why he picked the consumer financing and BNPL fields. Retailers, customers, and lenders are the three main parties that make up a global lending or financing platform. One of these parties constantly creates market opportunities, giving financing platforms the chance to expand while also assisting other businesses, from local to global ones, to achieve success. According to Meidad, the path was challenging but intriguing because it took time to develop the best platform, and using Visa and Mastercard’s features and services was essential to resolving issues and making the platform the market leader.


How has it started


Meidad also discussed the origins of the business and the first stages of success. ChargeAfter launched quickly to receive the first reviews since it combined financing expertise with experience working with various customers and merchant types. As he previously stated, the initial experience was quite exciting, the business was focused on the market and the requirements of retailers and customers. The next stage was to develop the product in light of feedback from the initial phases and expand the distribution of the service to new customers and lenders.


Where is ChargeAfter Now?


Meidad talked about the challenges ChargeAfter faced and the current difficulty they are working on. The majority of financing platforms were still rejecting 70 percent of applications. There were so many consumer financing choices, such as loans and installment payments, accessible on the market. There wasn’t a platform that would offer every customer the same service due to the various local restrictions that apply in various nations. As he noted, the majority of funding platforms just addressed specific aspects of problems, like prime consumers problems in the US, or near-prime credits in Canada, rather than the root causes.

“There are great lenders out there, but the market is disconnected, each lender is solving the part of the puzzle, but not all the puzzle.”, stated Meided Sharon during an interview.

Therefore, there was a critical need for a consumer financing platform that would link lenders and merchants so they could provide various forms of retail credit or Buy Now Pay Later services to the public, allowing ChargeAfter to expand its loan rate from 20 to 80 percent. It was crucial to be able to assist clients from various locations while ensuring that they received the consumer financing they required. These were the driving forces for the creation of ChargeAfter, which allowed him to use the greatest features of each lender, provide customers a far higher chance of approval in BNPL, and provide retailers with the best ways to boost sales and maximize AOV (Average Order Value).

This led to the creation of ChargeAfter, the market leader in consumer financing, which has reputable lenders and allows the financing platform to provide diverse services to retailers and customers so they may obtain BNPL loans with the payment plans of their choice. As Meidad has stated, he intends to raise the number of lenders to 70 by the end of this year and is already extremely near that goal.

The entire spectrum is currently covered by ChargeAfter. Different BNPL white label services, card installments, visa installments, and non-card choices are provided by lenders. working with major financial institutions like Citizens Bank or Wells Fargo, the US leasing companies, and offering business financing to businesses. Each customer can thus choose from offers that are relevant to them.


Economics of ChargeAfter


Meidad also discussed the business’s economics and the source of its income. He compared ChargeAfter’s actions to what Visa and MasterCard accomplished decades ago, when they connected all the banks in one place and enabled the use of a single card for a variety of services.  ChargeAfter is doing the same by linking lenders with the merchants. It is charging lenders platform fees based on transaction volume in order for them to use the financing platform of ChargeAfter and maintain connections with numerous merchants across the world.


How does it Work


ChargeAfter’s financing platform is simple to use for retailers thanks to integrated systems on websites. They only need to download it and use it in their stores. Additionally, it is simple for the customers because they just need to complete the application once, and the system will match them with the best lender. The platform’s responsibility is to offer them a safe and appropriate solution to all BNPL regulations and limitations.

To accommodate the growing number of customers, the system must also be modern and functioning effectively. To be secure and up to date, the corporation invests heavily in it and tests it every month.


Upcoming Trends


The CEO also discussed future trends in the industry. According to Maided, they can predict what would happen based on the statistics they have. There are two major market trends on the horizon. First, there is an increase in loan demand. To fulfill their needs and overcome obstacles, consumers will want more credit. In the future, more consumers will seek consumer finance since BNPL white label services will be increasingly necessary for the clients as the cost of goods and services rises daily.

Second, because lenders would have stricter loan requirements, the availability of credit will be difficult. The same thing occurred during the COVID-19 pandemic when loan approval was cut in half. According to Meidad, the same scenario will occur, and certain loan organizations will either exit the market or fail to adapt to the new trends.

ChargeAfter will play a crucial role in preserving the relationship between lenders and retailers so that consumers may still choose from a choice of BNPL options for their consumer credit. However, to qualify as prime clients and receive prime offers from the financing platform, customers must maintain the highest possible credit ratings.

Meidad Sharon concluded by saying that the ChargeAfter worldwide loan platform will continue to function as a connecting network to aid customers and retailers in getting through this time.


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Fortiva Retail Credit Expands partnership with ChargeAfter BNPL Consumer Financing Network

The market-leading Buy Now Pay Later (BNPL) consumer finance network ChargeAfter and Fortiva® Retail Credit, the leading technology-enabled consumer financing program, announced the expansion of their current relationship, which began in 2018. To give more customers the chance to be authorized for financing, the Fortiva Retail Credit can now be used across ChargeAfter’s complete network of merchants, channel platforms, and financial institutions.

How Does Fortiva Retail Credit Works?


Thanks to the Fortiva® Retail Credit program, the Bank of Missouri can offer a seamless transition from prime financing to a second-look program with affordable payment alternatives, which makes use of the flexible technology capabilities of Atlanticus Services Corporation. Both online and in-store, Fortiva Retail Credit can offer its customers the greatest retail finance options.

Fortiva Retail Credit is a great opportunity for consumers with low credit scores, if the clients are declined to get prime consumer financing option, they are automatically transferred to the Fortiva program where they have a higher chance to get the funds they need with a better payment plan.

Atlanticus’ technology platform allows more inclusive financing alternatives that help merchants to say “yes” more frequently to customers with not good enough credit by drawing on insights garnered from over 25 years of data collection and consumer behavior.

The United States, Puerto Rico, and the U.S. Virgin Islands are among the territories where the Fortiva® Retail Credit program is accessible. Subsidiaries of Atlanticus Holdings Corporation are in charge of running the Fortiva® Retail Credit program.

What is ChargeAfter


ChargeAfter is a leading platform and network for Buy Now Pay Later (BNPL) consumer financing that links merchants and lenders to provide customers with responsible, individualized financing choices. Up to 85% of applications are approved after ChargeAfter presents the most pertinent loan alternatives from various lenders to customers based on their credit types. ChargeAfter unifies the credit distribution process onto a single platform, which shops can quickly adopt both online and offline. ChargeAfter’s huge lender network guarantees any business to increase their sales and grow its customer base.


Expanding the Partnership


The market-leading BNPL network ChargeAfter links merchants and lenders to provide customers with individualized point-of-sale financing alternatives during checkout from a variety of lenders. By working together, Fortiva® Retail Credit and ChargeAfter will enable a simple, digital application process for financing and transaction funding, empowering both consumers and retailers.

Despite ChargeAfter’s constant efforts to provide shops with the finest options for their consumers, some buyers were still unable to use financing systems to obtain the funds they require. With the increased relationship with Fortiva, ChangeAfter may now provide its services to customers with a low credit score, since buyers who apply for consumer financing occasionally have a terrible credit history and are turned down for the funds they need. Fortiva Retail Credit and ChargeAfter will benefit customers and merchants through this relationship, enabling the quick and easy application for financing and transaction finance online. Any business using ChargeAfter as its financing platform will see their customer base grow as a result of this.

On the other side, Fortiva Retail Credit anticipates expanding its audience as well, given that ChargeAfter has opened up new opportunities for them. Customers all around the nation will be able to use Fortiva credit as a consumer financing option to buy the things they need and use BNPL to gradually pay back the purchase money.

“As the first credit program to integrate with ChargeAfter, we are excited to extend and expand our relationship,” said Dave Caruso, Chief Commercial Officer of Atlanticus Services Corporation.

Mark Denman, EVP of Merchant Sales & Success at ChargeAfter said: “As ChargeAfter continues to disrupt the BNPL space, Fortiva® Retail Credit’s premier services and offerings will continue to help set us apart from the competition. We look forward to our continued rapid expansion with the Fortiva program and appreciate the longstanding partnership we have with them.”

Due to the fact that ChargeAfter and Fortiva Retail Credit are extending their relationship, businesses will now be able to offer their clients more comfortable retail finance options. On the other side, clients will have more opportunities to finance their demands through BNPL and consumer financing.


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4 Reasons Consumers Scrap Their Carts and How to Recover Them

Abandon cart rates are a key eCommerce metric to consider when assessing the performance of your online store. This data can give you a clearer idea of how consumers are engaging with the checkout stage of the consumer journey that your store is creating. It can share insight into what consumers are doing at the checkout stage and why they are turning away from purchases. With a better understanding of why consumers scrap their carts, you can make smarter decisions with regard to your checkout page and the consumer journey. In this article, we share the four most common reasons consumers scrap their carts and how you can recover them.

1. Unforeseen Costs at the Checkout Stage

If you are not upfront about the costs of your products and services, then consumers are likely to abandon their carts. As consumers arrive at the checkout stage, the final cost for their purchases should not exceed the expected cost as seen in the journey up to the checkout stage. For example, delivery fees should be fairly responsible and not include any complex fee structures. You should make every effort to ensure that consumers are seeing a cost somewhere in line with the perceived value of their purchases.

2. They Are First-Time Buyers

First-time buyers need to take a leap of faith for their first purchases with online stores. They may be unfamiliar with your store, a factor that reduces their trust in your service delivery. First-time buyers are difficult to attract without positive online reviews and comprehensive information about your brand, delivery services, and other factors that influence consumer trust. You should ensure that you have the necessary information and online reviews to encourage first-time buyers to make purchases on your online store.

3. The Checkout Experience is Convoluted

When consumers are ready to buy, they will arrive at your checkout page to complete the order. If the checkout page is not up to industry standards, consumers will abandon their carts. You should ensure that your checkout page is simple to use and you can improve the odds of increasing sales values by cross-selling and upselling via the checkout page. These strategies are popularly used by eCommerce stores to ensure that consumers not only purchase their carts but purchase more expensive carts.

4. Payment Options Are Limited

Different consumers shop differently and providing many payment options is the best way to satisfy the diverse spectrum of online shoppers. Payment options like Visa and Mastercard are essential, and consumer financing payments are proving popular for their ability to add additional value to consumers. The introduction of these payment options will positively impact your abandon cart rates.

How to Reduce Abandoned Cart Rates: Consumer Financing

You can reduce the rates at which consumers abandon their carts by introducing consumer financing integrations into the checkout stage of the consumer journey. Consumer financing platforms, like those offered by ChargeAfter, enable businesses to offer customers financing at the push of a button. This financing can be used to purchase their carts, facilitating a quick and simple process whereby to acquire their purchases. The ability to provide shoppers with the simplest ways to reduce pain points such as online financing is a surefire strategy to improve abandon cart rate metrics and have more consumers making purchases.

In the world of online selling, abandon cart rates are one of the most crucial marketing metrics to understand as they provide insight into your shoppers’ behaviors at your checkout page. You should understand the common reasons consumers scrap their carts and use consumer financing platforms to reduce the negative impact of this metric on your eCommerce success.


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