Enhancing the customer experience through offering POS finance
Today’s retail experience isn’t just about offering customers the right product, it’s also about providing them with a seamless payment experience. In recent times this has transitioned into the provision of ‘instant credit’ to cater for high value or impulse purchases. In the ever challenging retail arena, POS finance is moving from being a differentiator to an essential element of the customer experience mix.
Create a ‘buy now, pay later’ lending solution with ease
Marqeta’s virtual card capability enables a line of credit to be provided, working seamlessly with customers’ mobile wallets and merchants’ POS systems. All of this is done in real time, with Marqeta providing 3 seconds for an authorisation. Additionally, any future repeat spend on unused credit can be later approved based on geo-location.
Key benefits for point-of-sale financing
Instant issuance of virtual cards
Fund a prepaid virtual card for the exact amount and pay within seconds of the borrower’s approval, in-store or online.
Start payment cycles without the need to integrate beforehand with a merchant’s POS system wherever Visa/Mastercard is accepted.
Dynamic spend controls
Limit transaction approvals to a specific merchant or time using controls such as a date or a start and end time.
JIT (Just-in-Time) Funding™
Ensure that funds are spent for a one-time transaction or an installment payment of an approved loan.
Inject metadata into each transaction record
Streamline the reconciliation of transaction records with the lender’s general ledger (GL) and loan management system (LMS).
Get insights into customer spend and offer targeted funding options and grow loyalty.