28/07/2010
By Scott Thompson
Pay4Later has introduced a retail finance solution enabling e-commerce outfits to offer customers such products as interest free and classic credit. The system includes a raft of features including real-time reporting and account management, support for multiple sales channels and integrated fraud screening.
“PoS credit has been around for decades on the High Street. Retailers know that offering customers credit at the PoS is a proven way to increase sales and average order values,” says Scott Law, Pay4Later’s CEO. “With Pay4Later, online retailers can now discover these potent benefits for themselves.”
The process begins when a consumer selects a finance offer presented by the retailer at checkout. Once they have confirmed they meet the lending criteria, the credit application form is displayed. Upon completion, the consumer ‘signs’ the agreement, which instantly and securely transmits their application to the lender. The typical lender response time is between 5 and 10 seconds.
