Retailer FAQ
Breakthrough in-store consumer credit solution featuring e-signature.
Featuring e-signature, interactive pre-contract explanation videos and instant credit decisions, Pay4Later's breakthrough customer present solution transforms the purchase experience for both customers and retailers by dramatically reducing the time taken to complete a credit application and greatly simplifying legal compliance.
The highly efficient and ethical process complies with all relevant legislation (including the recently introduced Customer Credit Directive) and introduces a unique self-service concept that enables customers to complete a credit application themselves after watching a short interactive video that explains the key features and costs of the credit - thus enhancing privacy and minimising retailer staffing requirements.
Using our revolutionary Finance Calculator web application, retailers can instantly present finance options to customers, who can then complete a credit application on screen themselves after watching short interactive video that explains key features and costs - thus ensuring privacy and minimising retailer staffing requirements.
The credit agreement is then presented for the customer to sign using an e-signature pad and stylus. iPad users can sign directly on-screen using just a capacitive stylus.
No paper forms. No sending forms in the post. Completely online.
The process begins when a consumer selects a finance offer presented by the retailer at checkout or clicks a link in an email. The credit application form is displayed complete with the retailers branding. A 'credit summary' displays the description of goods and finance details.
To complete the application, the consumer checks the e-signature box to sign their credit agreement and submit their application. A decision is returned in around 10 seconds, which means the consumer can complete their purchase, entirely online, in just a few minutes.
And as the agreement is executed online there is no paper, no sending forms in the post and no delays.
Powerful Reporting & Account Management
Pay4Later Back Office provides sophisticated real time reporting and enables retailers to manage all aspects of their account online using a web browser. The Pay4Later API enables automated management of finance orders, which means greatly reduced costs for retailers and a seamless customer experience. CreditSentry, risk management software integrated within BackOffice, analyses each credit application to help retailers identify and prevent fraud and spurious applications.
By adopting established card payment processes and infrastructure, Pay4Later makes it easy for retailers to integrate and manage retail finance. And all from as little as at just £40 a month.
