The fast-growing instalment payments market offers some compelling benefits to all parties concerned.
For Merchants, there is the potential to increase conversions among shoppers. Typically, up to 85% of financing applications are approved due to ChargeAfter’s robust and growing lender network providing consumer financing across the full credit spectrum. Additionally, giving shoppers the option of paying through easy instalments and additional financing products, increases average sales by 30% and AOV by 45%.
For Lenders, giving shoppers the freedom of personalized, flexible payments is effective in securing access to global merchants, penetrating new market verticals, and acquiring new customers. Compared to other financing options, partnering with ChargeAfter and Visa promises quicker merchant on-boarding and higher approval and acceptance rates.
Customers benefit too. They can enjoy affordable, instant and seamless access to a wider variety of funding options for purchases across their preferred channels and across full credit spectrum.