The cost of credit – The truth about APR's
21 March 2017 | Vicki Scheele
Consumers are using credit more than ever and spreading the cost is increasingly being seen as a smart financial decision by a broader range of people.
Retail credit market trends
15 March 2017 | Scott Law
Customer demand for credit has never been greater. In the UK, there are 60 million credit cards held by 32 million consumers. When it comes to retail (point-of-sale) credit, a revolution is under way. Over half of the top 100 retailers now offer credit options to their customers.
Making sense of your FCA reporting requirements
17 January 2017 | Verity Brain
Our customers often ask us for advice when they receive an email from the FCA telling them they need to submit their reports. The reporting is fairly straightforward but some of the questions can be ambiguous, so we've outlined the guidance we give most merchants using Pay4Later for standard point of sale financing below.
Christmas jumper festivities
16 December 2016 | Vicki Scheele
The Pay4Later teams in London have fully embraced this year's Christmas jumper day. Cheesy tunes have been playing, mince pies are being eaten and we're getting inventive when it comes to warming up the mulled wine. Everyone participating has donated generously for charity with all proceeds going to Save the Children.
The mobile experience black hole Ecommerce Directors don't see
12 December 2016 | Vicki Scheele
You spend vast amounts of time and money honing the mobile experience and buying journey on your ecommerce site. Making it easy for customers and maximising conversion are the critical objectives by which every AB test is measured and decision made. Except in one area that often gets overlooked right at the critical stage payment.
Point-of-sale finance: A smarter way to pay for holidays
08 December 2016 | James Lloyd
The past few years have been full of challenges for UK travel firms. The online revolution has made travellers increasingly detached from travel agencies as they search for a better deal and Brexit uncertainties are starting to impact consumer confidence and make people more conscious of holiday spending. Yet recent consumer research put travel as a firm priority with over 27% considering their annual family holiday as something they cannot live without.
How smart technology drives merchant conversion rate
18 November 2016 | Richard Sheperd
Consumers are more demanding than ever when it comes to the mobile experience. The UK's leading retailers spend millions of pounds making sure their ecommerce sites are mobile-optimised and with around 60% of online transactions now taking place on a mobile device it's easy to see why.
Your customers evolve, you should too
04 November 2016 | James Lloyd
Most 'business thinkers' stress the importance of putting your customers' first. The problem for many organisations is that too often they place all of their focus on generating revenue and maximising profit that they fall out of touch with their customers.
The secret to targeting retail customers
17 Ocotber 2016 | Vicki Scheele
Customers have more choice than ever and often shop around and switch between stores. Loyalty is hard won and even loyal customers are fickle and can be fairly easily lured by promotions, discounts or the latest celebrity endorsement.
How retailers can win in this post-Brexit environment
05 Ocotber 2016 | James Lloyd
It's been a tough few months for UK retailers following the Brexit decision and it doesn't look to get better anytime soon. The pound hit a 31-year low this week and last week CBI published survey data announcing 46% of UK retailers believe consumer spending will continue to drop over the coming year.
Retail financing: Are you doing it well enough?
22 September 2016 | Vicki Scheele
My brother in law sent me a picture of his new bike yesterday. The caption simply said 'fancy a race?'
Why consumers are falling out of love with brands - The new loyalty landscape
08 September 2016 | Vicki Scheele
I've had various loyalty cards over the years with a couple of trusty favourites, but most are now gathering dust in a drawer. I'm still shopping at most of the same stores, but as a consumer the lure of loyalty is waning.
Consumers are changing and payments must change too
10 August 2016 | Vicki Scheele
Consumer finance is changing because the world of the consumer is changing. The 'millennials' have arrived with new expectations and a new set of financial challenges.
Consumer Credit Licences demystified
22 July 2016 | Vicki Scheele
One of the most common questions we hear is 'Do I need a Consumer Credit Licence'? It can be confusing as the Financial Conduct Authority (FCA) regulates a wide variety of financial organisations and so the advice and guidance around Consumer Credit Licences (CCLs) is very broad.
8 ways savvy merchants can increase their own acceptance rates
14 July 2016 | Madeleine Gill
Offering finance to customers is proven to increase sales. It stands to reason that the more customers who are accepted for credit the more sales there will be. This is why the acceptance rate (ie the percentage of customers accepted for finance) is so important.
The link between consumer confidence and the availability of credit
08 July 2016 | Scott Law
Total consumer spending accounts for over 60% of UK GDP and is critical to the health of the economy. When consumers lack confidence and stop spending the economy suffers. Businesses rely on a steady stream of sales and when they drop, profits are hit, costs are cut and jobs are lost. It's a vicious cycle.
Education funding options: The verdict
01 July 2016 | Vicki Scheele
Education and training is critical in giving people more skills, more confidence and more opportunities in life. But it's not always easy for students to fund the courses that will really make a difference.
How to combat the cashflow challenge in the service sector
23 June 2016 | James Lloyd
For service companies, the challenge of managing cash flow is significantly more complex than for those in retail. If you sell tangible goods customers decide what goods they want, pay for them and take them away. But for those providing services getting paid is often less straightforward.
Interest free credit vs Cashback: Which is best for increasing revenue?
20 June 2016 | Vicki Scheele
Merchants have a toolbox of tricks for increasing sales and winning customers. Whether it's retail or healthcare, education or property, it takes a smart deployment of tools to win in these incredibly competitive markets.
4 quick ways to increase sales from your retail finance
31 May 2016 | Vicki Scheele
If you're already using retail finance to drive sales you might think that you've got this sales channel covered.
The consumer finance image problem
19 May 2016 | Vicki Scheele
It's struck me recently that consumer finance has an image problem. An unspoken image problem, lest we seem snobby.
Google cracks down on unethical lending
12 May 2016 | James Lloyd
Google has taken a step in the right direction with its recent announcement to crack down on payday loan promotions.
Will finance cannibalise existing sales?
06 May 2016 | James Lloyd
One of the concerns merchants sometimes raise when considering finance is "why pay more for a sale I was already going to make?"
Are you missing a trick by not offering consumer finance
28 April 2016 | Vicki Scheele
Retail finance is a powerful sales tool that can significantly increase revenue. Some sectors, such as furniture and jewellery retail, are heavy users but there are many that are just waking up to it's potential...
The 'App Marketplace' - a new generation of POS solutions
22 April 2016 | James Lloyd
Two weeks after Money20/20 Europe and we're still buzzing. It was incredible to be among some of the worlds leading innovators in an increasingly connected payment, financial services and retail ecosystem...
Pay4Later @ Money20/20, Copenhagen
13 April 2016 | Scott Law
I just got back from the Bella Sky Hotel in Copenhagen, the venue for Europe's largest fin-tech event, Money 20/20...
Reducing cart abandonment with retail finance
11 April 2016 | Vicki Scheele
Web visitors are hard won in the world of ecommerce. Significant time, effort and resources go into attracting prospects, yet around 70% of shopping carts are abandoned, 46% of them at the payment stage.....
How will you offset the cost of the national living wage rise?
01 April 2016 | James Lloyd
Today is the day the national living wage rise takes effect. It's said to be one of the biggest increases in the legal minimum wage that any government has done in the western world in living memory....
London's tech industry set for another defining year
26 January 2016 | Jamie Uprichard
Last year saw London receive three-fifths of the UK's investment, and the cities tech scene alone saw just over £1.5 billion roll in from venture capitalists...
What's next for p2p lending?
27 November 2015 | James Lloyd, Marketing Executive
Some would argue the sharing economy has revolutionised a now outdated and redundant socio-economic model and brought about a more robust, innovative and mutually beneficial system, driven by technological advancements and a demand for increased efficiency...
Pay4Later's ISO 27001:2013 audit passed with flying colours
20 November 2015 | Jamie Uprichard, Marketing Executive
Just as winter was coming into full effect in October, Pay4Later hosted ISOQAR in their central London office to carry out an intense audit, inspecting every scrap of paper and hard drive in sight...
Are you secure in the lead up to two of the busiest days in the retail calendar?
11 November 2015 | Jamie Uprichard, Marketing Executive
Cyber security is becoming a seasonal talking point as we come close to the anniversary of one of the largest and most publicised corporate hacks in history...
Ecommerce Expo 2015
05 October 2015 | Penny Austin, Marketing Executive
On Wednesday 30th the UK's biggest event for the latest in Ecommerce innovation was back, showcasing the latest in marketing, platforms, payments and much more...
A culture that drives success
18 September 2015 | James Lloyd, Marketing Executive
The 2015 Rugby World Cup hosted here in England kicks off tonight and with an exciting build up taking place this week, a very interesting article was published by The BBC about the culture inside one of the world's most successful sporting teams...
Lending and payments converge
04 September 2015 | Scott Law, Founder & CEO
When Pay4Later was founded back in 2008, the world was in the midst of financial turmoil. Finding banks with the resources and appetite to lend to consumers was challenging to say the least! Even before the financial crisis, the UK retail finance market had been in decline for years. In a payment landscape dominated by credit and debit cards, most retailers ...
Pay4Later's annual offsite
14th August 2015 | John Wark, Marketing Director
Our annual summer off-site was a great chance to reflect on 2015 so far and for the senior management team to reiterate our plan for the rest of the year. The event was held on the top floor of The Ace Hotel in Shoreditch and had a fantastic roof terrace with great views across the square mile. After we had all stuffed ourselves silly with lunch, including a chocolate mousse to die for served in an edible cup, we began with an overview from our CEO and founder Scott Law ...
Powering growth with point of sale finance
01 August 2015 | James Lloyd, Marketing Executive
There's a common misconception that Point of Sale Finance is only offered by large businesses with substantial buying power and high margins. The reality is that Point of Sale finance can be used as a potent selling tool, no matter what size the business. This piece outlines 3 ways that businesses of all sizes harness the power of Point of Sale finance to achieve exponential growth ...