Tag: Point Of Sale Financing Magento

The 4 Best eCommerce Platforms You Can Integrate With BNPL

Posted on by chargeafterdev

Choosing a brand name, defining your customer segments, and conducting market research are some of the first steps to introducing your new eCommerce store. But, before you launch you should consider which eCommerce platform is right for your business. Each service provider offers unique benefits that enable businesses to craft attractive online presences. And, no eCommerce platform is created equally. So, choosing the right platform from the start is pivotal. In most cases, we recommend eCommerce platforms that support the integration of BNPL services. This allows your business to capitalize on the massive revenue potential of this payment option, helping you beat the competition. In this guide, we explore the 4 best eCommerce platforms you can integrate with BNPL services to increase conversions and build brand loyalty.

1. Shopify

Shopify is one of the most reliable and strategically strong eCommerce platforms on the market. The platform features a myriad of sales channels, plugins, and additional benefits that are geared to driving profitable business growth. The platform enables eCommerce directly through your website and has full integration with social media channels to leverage Millenial and Generation Z consumer interest. ChargeAfter’s BNPL services can be integrated with Shopify to ensure that businesses drive sales. This consumer financing feature enables seamless payment for consumers, facilitating a faster time to sell and improving customer loyalty. Furthermore, analytical reports from ChargeAfter and Shopify can help marketing teams make stronger strategic decisions. 

2. Bigcommerce

Bigcommerce is an incredibly powerful eCommerce platform designed with big businesses in mind. The platform is fully hosted and provides extensive business management options for teams to facilitate seamless workflow navigation. The platform has multiple payment options already integrated, and it is extremely simple to integrate ChargeAfter’s BNPL services over and above these. Doing so will bridge the gap between your business and a vast majority of consumers that prefer to shop with online stores that offer multiple, efficient payment options.

3. WooCommerce

WooCommerce is an easy-to-integrate eCommerce platform that appeals to businesses using WordPress to host and manage their websites. The WooCommerce plugin is fast, efficient, and enables superior facilitation of eCommerce innovations and analytical reporting. Thousands of WooCommerce plugins let marketing teams optimize their back-end systems, streamlining workflow and reducing time allocation to mundane or repetitive tasks. As a highly customizable platform, WooCommerce is perfect for the ever-evolving nature of eCommerce. Simple integration with ChargeAfter’s consumer financing features allows businesses to take advantage of online financing benefits and increase monthly order values and volumes. 

4. Adobe Commerce (Formerly Magento)

Formerly known as Magento, Adobe Commerce is a non-hosted eCommerce platform that offers incredible flexibility for businesses large and small. The platform offers free options to get started, ensuring that new businesses are able to quickly integrate and consider the benefits of utilizing Adobe Commerce. The platform offers incredible customization and the ability to integrate additional plugins for greater workflow and innovative eCommerce solutions. Companies can install ChargeAfter’s waterfall consumer financing services into their Adobe Commerce platform to leverage the many benefits of BNPL. Doing so can greatly improve monthly sales and give your eCommerce platform an advantage over competitors. 

As you prepare to launch your businesses on the best eCommerce platform you can integrate with BNPL, we highly recommend searching for the most reputable consumer financing service providers. With ChargeAfter, you can leverage the incredible benefits of buy now pay later solutions in the most efficient and effective way possible. Partnering with ChargeAfter enables you to drive sales and increase revenue no matter the eCommerce platform that you choose to launch with.

 

Want to learn more? Reach out to us here.

Why Buy Now Pay Later Financing is the Best Customer Retention Strategy for Magento 2 Retailers

Posted on by chargeafterdev

The online shopping landscape is changing. More people now than ever before are confidently browsing Magento 2 and other eCommerce stores to satisfy their purchasing needs, and there is no better time to improve an online store’s user experience to retain customers than today. Customer retention is a key component of a successful marketing strategy, and in this article, we will explore how Magento 2 retailers can promote greater customer retention through the integration of a buy now pay later financing solution.

The Best Buy Now Pay Later Financing on the Market

Before we dive into the customer retention benefits of a buy now pay later financing platform, we need to understand more about the best consumer financing solutions on the market. When it comes to getting the best bang for your buck, ChargeAfter highlights its potential to promote your customer retention strategy. ChargeAfter employs a powerful lender platform that provides consumers with personalized financing solutions at checkout through a seamlessly integrated eCommerce plugin. 

As opposed to traditional lender platforms, ChargeAfter sets its solution apart from the competition by offering a multi-lender network designed to ensure that every shopper is capable of receiving consumer financing when browsing one’s Magento 2 retail store. With a network of thousands of reliable lenders, ChargeAfter is able to offer tailored repayment plans unique to each shopper and facilitate instant payment to benefit both consumers and retailers. 

How ChargeAfter Promotes Customer Retention

When it comes to your customer retention strategy, there are already a series of considerations at play beyond what is happening at checkout. With ChargeAfter, the checkout stage, arguably the most important step in the consumer journey, is covered with a comprehensive consumer financing solution that encourages sales of existing and new customers. The dual benefit of attracting and retaining customers will promote greater customer lifetime values for shoppers browsing Magento 2 retail stores with ChargeAfter’s integration. 

ChargeAfter promotes customer retention in the following key ways:

Drives Returns for Larger Orders

Customers who have shopped with you before and are happy with your service are more inclined to return knowing that you offer comprehensive and personalized repayment solutions allowing them to make larger orders. This will ensure that they are more confident and capable of driving up their customer lifetime values, ensuring that your Magento 2 retail platform sees greater average monthly order values. 

Rewards Existing Customers

The appeal of ChargeAfter’s multi-lender network lies in the capability of receiving zero-interest repayment plans, rewarding customers who shop with you and thus drawing them back to shop once more. Customers can confidently purchase multiple orders as they do not need to take into account costly interest rates, promoting quicker and more consistent sales among your established consumer base.

Goes One Step Further Than Loyalty

While loyalty programs have been the cornerstone of customer retention strategies for years, consumer financing is showcasing its potential to be a more impactful part of customer retention as it provides instant and tangible financial value. Rather than purchasing to receive a free product or win a prize, an invaluable and unbalanced strategy, customers shop with the power in their own hands and make decisions based on the ability to finance their purchasing behaviors. With ChargeAfter’s buy now pay later solution, customers are able to ‘shop till they drop’ knowing that they are receiving the best value beyond a loyalty program. 

From encouraging the sales of larger carts to rewarding customers and going one step further than loyalty programs, ChargeAfter’s buy now pay later financing is the best customer retention strategy for Magento 2 retailers. 

What Is the ChargeAfter Omnichannel Solution and How Does It Benefit Your Magento eCommerce Business?

Posted on by chargeafterdev

Omni-channel strategies involve integrating various marketing channels seamlessly to provide consumers with an immersive and efficient front-end user journey. Omni-channel strategies are incredibly powerful and more and more Magento eCommerce stores are adopting steps to implement omnichannel eCommerce to improve consumer experiences, boost sales, promote customer loyalty, and gather data easier. In this article, we will outline omnichannel strategies in more detail, share how you can take your omnichannel strategy to the next level with ChargeAfter’s solution, and showcase the benefits of introducing this platform into your Magento retail store.

What is an Omnichannel Strategy?

An omnichannel strategy, as discussed, involves the integration of multiple marketing channels to give consumers a seamless user experience from one’s online store to a physical shop and beyond. No matter where in the sales funnel a consumer finds themselves, they will have access to integration between the website, apps, physical store, social media, email communications, and more. For example, a customer who sees a Magento site add on social media will be directed to the website where they can browse and place an order. They will then receive email notifications on order updates and be directed to review platforms to rate the online store’s products. This process is a simplification of an omnichannel strategy but helps elaborate on the kinds of tactics Magento retailers can employ when implementing such a strategy.

Take Your Omni-Channel Strategy To the Next Level With ChargeAfter’s Solution

The key point of difference that separates one Magento site’s omnichannel strategy from another is buy now pay later Magento platforms that enable quick, efficient, and responsive consumer financing. ChargeAfter is the leading integration platform for Magento retailers wishing to reap the benefits of multi-lender solutions, and any Magento site can quickly and easily partner with ChargeAfter to boost sales and increase margins. If you wish to take your omnichannel strategy to the next level, then consider integrating with ChargeAfter’s solution and receive these incredible benefits.

The Benefits of Buy Now Pay Later for Magento eCommerce

The benefits of buy now pay later for Magento eCommerce is two-fold, the solution from ChargeAfter supports both the consumer experience and, in turn, grows one’s business through driving sales and promoting customer loyalty. We have outlined a few of these benefits below:

Sales-Driven Omni-Channel Strategy

Opting to integrate ChargeAfter’s omnichannel solution turns your consumer financing options into a sales drive, allowing you to access a wide consumer base you may have not yet tapped into. These consumers who may have previously been unable to purchase large tickets from your store will now be more capable to move through the sales funnel and flow through your omnichannel marketing process.

Increased Consumer Satisfaction

Another critical benefit of omnichannel marketing, particularly in regards to strategies that include ChargeAfter’s buy now pay later Magento plugin is increased consumer satisfaction as an essential touchpoint in their user experience is assisted with consumer financing that allows individuals to access their desired goods. More sales equal more customers filtered through the strategy, helping drive positive reviews back to your social platforms showcasing your valuable customer service.

On-Trend and On-Demand

Magento retailers that integrate with ChargeAfter’s multi-lender platform benefit from showcasing their market-leading potential by incorporating new technologies that the modern consumer is more likely to expect during their online shopping experience. Being on-trend sets a precedent among the competition in your marketplace, helping your business achieve on-demand status among loyal consumers.

Omni-channel strategies are incredibly effective and can be supported with novel solutions like ChargeAfter’s multi-lender platform. This Magento integration allows businesses to benefit from a sales-driven omnichannel strategy that increases consumer satisfaction and drives profitable growth.

How Magento Merchants Benefit From Offering Consumer Financing for Considered Purchases

Posted on by chargeafterdev

Consumers are smarter, more confident, and more careful during their online shopping journeys today more than ever before, and this is likely to do with the rise in eCommerce as a result of the Covid-19 pandemic. More customers have access to their favorite stores at their fingertips and more competition is drawing consumer attention as digital marketing soars. For this reason and more, Magento merchants need to develop innovative marketing strategies, utilize the newest online retail tools, and partner with the best consumer financing companies to target, convert, and retain customers who make considered purchases. 

But, what exactly is a considered purchase, what challenges do they present to Magento merchants, and how do Magento merchants benefit from offering consumer financing for considered purchases? We’ll take a closer look at all of these questions and answers in this article. 

What is a Considered Purchase?

Today, consumers are more inclined to research product options, take into consideration product reviews, and plan methods for financing large orders as they are more careful with their online shopping. This is even more notable with sentimental products such as jewelry, high-value items such as mattresses, and long-term investments such as real estate. As opposed to split-second decisions, or impulse buys, these purchases and more fall into what is called a considered purchase.

Considered purchases involve intensive customer research, competitor analysis, and consultation, typically owing to a longer purchasing cycle associated with the higher risk versus reward. Considered purchases are becoming more prevalent in Magento merchants’ stores, especially those looking to land large order volume purchases, and there are several significant challenges these platforms face regarding considered purchases.

The Challenges of Considered Purchases

Considered purchases slow down the time taken to make a sale, subsequently resulting in lower monthly sales reports. This can negatively affect a retailer’s financial figures and the prolonged purchasing cycle can lead to revenue loss. This is among the many challenges Magento merchants face from considered purchases. Listed below are several additional problems associated with considered purchases:

  • Despite brick-and-mortar stores experiencing a decrease in foot traffic during the pandemic, studies suggest that almost half the percentage of global shoppers prefer making considered purchases in-store
  • There are far more online Magento stores available to consumers, increasing competition for considered purchases

Does Consumer Financing Benefit Considered Purchases?

One of the critical ways Magento merchants can improve their sales of considered purchases is by leveraging the benefits of consumer financing. Consumer financing solutions from ChargeAfter spotlight the powerful support of multi-lender financing platforms in reducing the challenges associated with considered purchases. For example;

  • Reduced purchasing cycle as consumers have quick access to personalized loan solutions, thus, increasing monthly sales and encouraging the growth of margins
  • Large orders are funded more successfully because of the wide availability of lenders willing to loan to all types of shoppers, increasing revenue generated per order
  • Zero credit checks give considered purchasers more confidence and widens a merchants consumer pool, developing a stronger and broader grasp of the Magento shopping market
  • Personalized repayment plans ensure that each shopper or considered purchase benefits from tailored options, giving consumers peace of mind knowing that they are covered with the best possible financing solution
  • Financing is done on the back-end, meaning Magento merchants can spend more time focusing on customer service and thus promote retention or facilitate a quicker time-to-purchase

The benefits of consumer financing for considered purchases are endless and cover far more than what’s listed above. These are just a few ways Magento merchants can utilize ChargeAfter’s consumer financing platform to secure considered purchases with their cautious buyers. Doing so should help your company see an increase in revenue, better margins, and consistent consumer growth despite online retail becoming more competitive.

Boost Important Magento eCommerce Metrics With Point of Sale Consumer Financing From ChargeAfter

Posted on by chargeafterdev

Many Magento merchants get a massive shock when they sit in with their marketing teams and run through their Google Analytics. Figures presented may show very low average order values or few repeat customer purchases, creating headaches among the marketing department as to what strategies are working and what’s not. In many cases, the final and most critical consumer touchpoint – checkout – is being ignored. Whether business owners are aware of new checkout-based marketing tools or yet to discover the options available to them, point of sale consumer financing is proving to be a crucial component for boosting important Magento eCommerce metrics.

In this article, we will list five of these key eCommerce metrics and showcase how point of sale consumer financing from ChargeAfter can improve these results.

1. Cost of Acquiring New Customers

Acquiring new customers is a cornerstone of business success but it does not come cheaply. Every consumer touchpoint needs consideration and marketing teams for Magento merchants to place an extensive amount of time, resources, and advertising budget to promote brand awareness to new customers. That said, your cost of acquiring new customers can be significantly reduced by providing new shoppers with tools to make a purchase, such as consumer financing from ChargerAfter. This feature enables first-time shoppers to quickly and easily convert to paying customers through the provision of funds needed to buy what’s in their cart.

2. Cart Abandonment Rate

While many new customers may checkout and purchase their online cart full of goods, others are quickly driven away from your site when they see the total cost. Some consumers may not have the funds to order their goods and others may have found an alternative Magento merchant offering a better customer experience. Either way, cart abandonment rates can be minimized with consumer financing as it gives all customers access to personalizing funding options. These customers are then more inclined to pay for what they’ve added to their cart. 

3. Average Order Value

The benefit of facilitating orders in online shoppers’ carts through consumer financing is also in the fact that more customers are capable of purchasing large-ticket items. The ability to receive loan support on bigger orders means that Magento merchants using ChargeAfter’s multi-lender platform experience higher average order values. 

4. Conversion Rate

When it comes down to advertising spend, conversions are the critical eCommerce metric that justifies one’s extensive ad budgets. There is little point in spending hundreds of dollars on conversion ads that return zero or very little sales. But, it’s often difficult to determine where exactly the issue is that causes shoppers to flee from an online retailer. Or is it? In most cases, conversion rates are impacted at the checkout stage when customers decide, for one reason or the other, to abandon their carts. Magento merchants can boost their conversion rates, helping customers old and new make purchases, through offering ChargeAfter’s first-rate consumer financing options.

5. Repeat Customer Rate

While acquiring new customers is one part of the marketing funnel, retaining existing companies is another entirely and requires its own financial and time investment. Magento retailers need to adopt new techniques to promote customer retention, one such being the implementation of exceptional consumer financing solutions. Through the integration of ChargeAfter’s multi-lender platform, merchants can experience the benefit of a streamlined checkout process that encourages their consumers to make more purchases. This platform takes the hassle out of online shopping for the customer as well as frees up time for your marketing team to focus on customer retention strategies such as email campaigns.

There is no end to the benefits of introducing a powerful consumer financing platform into your online store, and Magento retailers can experience increased new customer acquisition, lower cart abandonment rates, larger average order values, higher conversion rates, and greater customer retention with ChargeAfter’s solution.

How Point Of Sale Financing from ChargeAfter Can Help Increase Customer Retention on Magento

Posted on by chargeafterdev

Customer retention is imperative for online retailers as tapping into new audiences can become more costly than serving your current market when taking into account digital marketing and advertising budgets, among other avenues to reach consumers who are unaware of your Magento eCommerce store. For this reason, business owners must improve the efficiency and effectiveness of their critical consumer touchpoints, with the checkout stage being the final step in securing sales. One such strategy for encouraging customer buy-in at this stage of the consumer journey and encouraging customer retention is to offer point of sale financing solutions through the integration of multi-lender platforms like ChargeAfter. 

The powerful platform helps facilitate the lending of finance to customers who are ready to buy but lack the capital to make a purchase, a process that does wonders to encourage customers to return to your online store for the following key reasons:

Personalized Point of Sale Financing Solutions

ChargeAfter’s multi-lender platform allows customers shopping on Magento stores to access POS financing solutions from a range of reliable lenders. When the customer arrives at the checkout stage, they are encouraged to utilize the multi-lending platform that connects them with a personal financing solution tailored to their unique shopping requirements. This aspect of personalization means that every customer receives a payment plan specific to their order, which in turn promotes trust with the online retailer. Personalization is critical for customer retention and its implementation through ChargeAfter’s point of sale financing platform will encourage customers to return for access to new, tailored payment plans for their next order.

Checkout Efficiency for Customer Satisfaction

Loyal customers return to online retailers time and time again because of the efficiency that their eCommerce platforms offer. During the checkout stage, customers are swayed by the effort and time required to make a purchase and tend to shop with Magento retailers that minimize these two influential shopping factors. The integration of ChargeAfter’s multi-lender platform ensures that each shopper experiences a streamlined financing process that does not require them to leave to third-party sites or consult their bank for funding. By pooling the entire process onto your eCommerce website, customers enjoy the satisfaction of shopping with ease and without having to leave your shop. 

Affordable Consumer Payment Plans

Customer retention is supported through the integration of cost-saving strategies, and the implementation of a point of sale financing solution will provide them with a range of affordable payment plans to make a purchase. These plans are driven by their unique budgets and order values, giving them the best and most cost-effective solution to an otherwise risky and interest-driven process. Customers are more likely to return to online retailers that give them the best bang for their buck during the checkout stage.

Automation Mitigates Anxiety

Automation is paramount in the success of Magento online retailers as small businesses save massive amounts of money relegating tedious tasks to management platforms. Whatsmore, automation serves customers shopping online stores as it helps deliver solutions quickly. Customers arriving at the checkout stage may feel overwhelming anxiety should they have to leave your site and consult a banking partner for finance. That’s where ChargeAfter’s consumer financing options come in. This streamlined and automated process gets everything done in a timely manner with minimal effort required from the consumer, a benefit that will encourage more customers to return to shop with one’s Magento store. 

Success encourages more success, and leveraging ChargeAfter’s powerful multi-lender platform is bound to boost your sales and growth through encouraging customer retention. By personalizing payment plans, improving efficiency, offering affordable solutions, and mitigating consumer anxiety, Magento retailers can enjoy more of this success with returning customers.

How to Build an Effective Magento Omnichannel Strategy with Consumer Financing from ChargeAfter

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Omnichannel strategies are becoming a critical part of the Magento 2 and online retail process, informing much of the activity of eCommerce websites no matter the platform as these strategies are geared towards improving a customer’s experience with one’s company online. Despite the importance of implementing new marketing strategies like an omnichannel approach, many eCommerce businesses have yet to leverage the power and benefits of these strategies alongside customer-centric consumer financing solutions such as the multi-lender platform developed by ChargeAfter. The following article will discuss omnichannel strategies further and spotlight how consumer financing from ChargerAfter supports said strategies. In doing so, we will show you how to boost sales on your Magento 2 retail store today.

What is an Omnichannel Strategy?

An omnichannel strategy is a marketing approach that aims to deliver customers with a comprehensive and completely integrated shopping experience that considers the online user journey, brick-and-mortar experience, and every touchpoint in between. An omnichannel strategy is designed to leverage technological innovation at every level of the consumer journey, from access to codes in-store that allow customers to purchase from their mobile devices instead of at the checkout counter to browsing products online and receiving a coupon to redeem them when trying on the outfits in-store. 

The back and forth process of an omnichannel strategy intends to serve customers convenience wherever they are in the consumer journey, with the checkout stage being the most pivotal part and the result of a successful strategy. For this reason, omnichannel strategies need to include effective and efficient consumer financing solutions to improve the rate of conversions at checkout. 

How Consumer Financing Supports Omnichannel Strategies

As discussed, consumer financing is a pivotal part of an omnichannel strategy as it may make or break an online sale for Magento 2 eCommerce websites. The integration of effective consumer financing solutions such as ChargeAfter’s multi-lender platform gives more purchasing power to consumers, thus encouraging online sales for the business. Let’s take a look at the key factors influencing online shoppers thanks to the successful implementation of consumer financing.

Browsing and Buying at Consumer’s Fingertips

Consumer financing solutions such as a multi-lender platform allow consumers to quickly and effortlessly access funds needed to make a purchase on one’s online store. This efficient delivery of point of sale financing ensures that the customer journey is streamlined and incredibly efficient, factors that align with an omnichannel strategy’s intention of giving consumers browsing and buying capabilities at their fingertips.

Effective Management of Customer Activity

Consumer financing platforms, like those developed by ChargeAfter, allow online retailers to keep track of their customers and manage their activity through solving their online shopping problems. Back-end analytics and full-reporting support from ChargeAfter also allow retailers to leverage a successful omnichannel strategy.

ECommerce Unification with Consumer Financing

Consumer financing delivers a unified eCommerce solution for consumers who require POS financing to make a final purchase decision. The ability to offer customers access to finance quickly and easily through the website will save them time they may have spent failing to apply for a loan through their bank. The time-saving potential for customers shopping with ChargeAfter-integrated Magento retailers will make an impressive difference in sales figures and align with a fully integrated omnichannel strategy.

Boost Your Magento 2 eCommerce with ChargeAfter

ChargeAfter’s powerful multi-lender platform has been successfully integrated with thousands of Magento 2 eCommerce websites, giving retailers access to superior consumer financing support to encourage sales growth. The implementation is easy and affordable, allowing retailers to develop successful omnichannel strategies and leverage the critical checkout stage of the consumer journey in no time. Merchants can contact ChargeAfter today to receive more updates on the power of multi-lender point of sale financing platforms. 

5 Reasons Why Magento Retailers Benefit from ChargeAfter’s Point Of Sale Financing

Posted on by chargeafterdev

As online retail continues to grow and projections indicate an uptick from pre-pandemic estimates of a 12.8% increase in eCommerce sales to 13.7%, it’s no surprise that Magento retailers and other online stores are constantly on the search for consumer-centric innovations that will encourage profitable growth alongside these figures. One such area of extreme importance for online retailers is the checkout stage on the consumer journey, a touchpoint that needs new tools to leverage conscious buyers and help businesses capture sales. Point of sale financing solutions have become paramount for their benefits to both the consumer and the retailer, acting as a solution to credit problems that may encourage more sales and drive consumer loyalty. In this article, we will highlight the 5 reasons why Magento retailers benefit from ChargeAfter’s point of sale financing platforms. 

1. Access to Multi-Lender Point of Sale Financing

ChargeAfter’s unique point of sale financing solution sets it apart from the array of other POS financing platforms available to Magento retailers. The reason ChargeAfter is showcasing added value is through the implementation of a multi-lender platform. This system funnels consumers through prime and sub-lenders until they receive acceptance of a personalized payment plan that suits their unique needs. For example, ChargeAfter will filter consumers through the financing application process in real-time and connect them to a lender that is capable of facilitating their financing needs. This gives a retailer’s consumers access to the largest selection of lenders, ensuring they are able to access funds to purchase in the quickest time possible.

2. Higher Conversion Rates at Checkout

The perks of using ChargeAfter’s multi-lender point of sale financing encompasses the platform’s ability to reflect higher conversion rates at checkout. Consumers who arrive at the checkout stage and are worried about their ability to finance their purchase are quickly and easily given access to a wealth of payment plans aligned to their financial capabilities. For example, consumers will be partnered with lenders that allow for small monthly repayments at no interest rate and this is all done without the need for a credit check. The worries stripped from having to receive a credit check allow potential customers to turn into paying customers more efficiently as they are less discouraged during this late stage of the consumer journey. 

3. Building Loyalty With Customers

In retail, customers respond to companies that make their lives easier for them. In online retail, this is truer than ever. The pandemic encouraged online shoppers to become more confident and this newfound confidence has brought with it a much more vigilant customer with varying demands from the online stores they shop with. Customers are more inclined to purchase from retailers that facilitate their unique consumer journey. When it comes to point of sale financing, ChargeAfter’s multi-lender platform will showcase one’s Magento retail businesses desire to assist their customers during the checkout process, ushering in a positive company image among these shoppers. Furthermore, this consumer support is likely to equal more return customers and this helps one’s Magento retail business’s long-term growth. 

4. Broader Consumer Base

As consumers are not required to undergo intensive credit checks with ChargeAfter’s point of sale financing, more are able to purchase products from Magento retailers that utilize the powerful platform. This gives online retailers access to a wider consumer pool, encompassing customers who have turned away from competitors during the checkout stage as they have not had access to financing.

5. Increased Sales of Large-Ticket Items

A huge draw-in for online retailers using ChargeAfter’s multi-lender platform is the ability to finance their customers’ purchases of large-ticket items. Mattress financing is proving a massive point of sale problem that can be solved through the use of this platform. This is because customers can source funds for mattresses, and other large-ticket items that they may have previously been ineligible to purchase because of failing loan applications with their bank. An increase in sales of large-ticket items drives bigger sales margins for Magento retailers.

Magento retailers should consider the benefits of implementing ChargeAfter’s point of sale financing platform if they wish to flourish in the growing and competitive online retailer industry.