London - Pay4Later, the UK’s leading provider of online retailer finance today announced a breakthrough in-store consumer credit solution featuring e-signature, interactive pre-contract explanation videos and instant credit decisions. Pay4Later also launched Finance Calculator – a revolutionary web application that completely reinvents how finance is sold in-store.
Built on Pay4Later’s proven online finance platform, the new in-store process 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.
“Offering finance in-store is a real hassle. There’s too much paper and it takes too long to make the sale.“ said Scott Law, Pay4Later’s CEO. “In 2010 Pay4Later redefined online finance and now we’re doing it again with an in-store solution that moves us far ahead of the competition.”
Pay4Later’s 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 product - thus ensuring privacy and minimising retailer staffing requirements. The credit application form itself is then presented for the customer to complete and sign using an e-signature pad and stylus. iPad users can sign on-screen using just a capacitive stylus.
The retailer completes the purchase by confirming that they have taken a deposit from the customer by credit or debit card. If the customer is taking the goods away there and then, the retailer can tick a checkbox to mark the application as fulfilled, which adds it to a settlement file, paid the following day.
Delivered as a web application, Pay4Later’s in-store point of sale finance solution runs on Mac’s, PC’s and iPad’s and is available immediately. Retailers can offer a range of credit products (including 0% interest free credit) from 6 to 48 months and on purchases from £300 to £24,000.
Retailers can apply for an account online now at http://www.pay4later.com/apply and select from a choice of accounts starting at just £40 a month.
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Press Contacts:
Pay4Later
Scott Law, 07977 570930, scott@pay4later.com
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