The Importance of Waterfall Consumer Financing to Mobile eCommerce Success

Dec 10, 2021

As technology becomes more complex and consumers become more tech-savvy, mobile eCommerce grows. In fact, mobile eCommerce retained 39% of online sales during the 2020 festive season. As the end of year rush rolls around, your eCommerce business could benefit tenfold from introducing better mobile experiences for your shoppers. From introducing waterfall consumer financing to remedying the user experience on your platform, we discuss the important ways you can prepare your online store for mobile eCommerce success. 

What is Waterfall Consumer Financing?

Before we unpack how waterfall consumer financing supports mobile eCommerce success, let’s explore the concept in more detail. Waterfall consumer financing is a solution, typically an integration from leading companies like ChargeAfter, that provides your shoppers with on-demand and personalized financing options at checkout. When consumers arrive at checkout, they will have access to the integration via your online store, allowing them to secure repayment plans at the push of a button. How it works is that ChargeAfter connects your shoppers to a wide network of reliable lenders capable of fulfilling their unique purchasing decisions. They receive the financing within an instant and without having to undergo a credit check. Furthermore, the financing options typically offer zero tolow APR plans. This gives shoppers the lowest loan options on the market, an appealing selling point for mobile eCommerce platforms. 

How Waterfall Consumer Financing Helps Mobile Shoppers 

Waterfall consumer financing offers mobile shoppers many benefits, and we have outlined several of the key reasons your eCommerce platform should integrate a consumer financing solution. 

Consumers Don’t Need to Leave Your Shop

eCommerce platforms are becoming more mobile-friendly, however, the mobile shopping experience is still somewhat more cumbersome than a desktop shopping experience. For that reason, mobile stores need to distill information and provide quick and seamless user journeys that enable shoppers to do everything from the online store. When it comes to financing their purchases, there is no easier way to do this than with waterfall consumer financing. ChargeAfter’s solution is mobile-friendly, giving your shoppers access to our extensive network of lenders without having to open up multiple mobile tabs or call their financial service provider. This streamlines their shopping experience, driving a faster time to sell

It is a Marketing Opportunity 

We have already discussed that mobile shoppers find simple and easy-to-navigate experiences more appealing. For this reason, pop-ups and other marketing tactics that are effective on the desktop are less likely to garner interest on mobile. When it comes to mobile, less is more. But, waterfall consumer financing is a marketing opportunity in and of itself that does not distract from the mobile user journey. ChargeAfter’s mobile-friendly solution is simply a button at checkout where you can provide consumer-centric benefits to further encourage a sale. This is a non-invasive mobile-friendly marketing opportunity that will showcase the benefit of consumer financing through your website when consumers arrive at the checkout stage. 

It Optimizes Checkout

Checkout is the most critical stage in the mobile buying journey, and online platforms need to implement novel and trending strategies that appeal to consumers. Waterfall consumer financing is one such trending strategy that attracts interest from even the most discerning buyers. It enables shoppers to quickly purchase their orders, a critical time-saving initiative that will come in handy over the holiday season. In conjunction with comprehensive payment gateways, waterfall consumer financing will ensure that the consumer checkout process is as efficient and effective as possible. 

Implement waterfall consumer financing and reap the rewards of providing your consumers with a better mobile eCommerce experience that facilitates a faster time to sell and stronger marketing opportunities. 

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About the author
Chris Lloyd
“ChargeAfter is amongst our top rung of partnerships, and they enable us to deliver consistent. The conversion uplifts ChargeAfter creates helps drive strong value for DXL Group and our customers.”