ChargeAfter providing a complete solution for Point of Sale Financing from multiple lenders

ChargeAfter— providing a complete solution for Point-of-Sale Financing from multiple lenders

The Buy Now Pay Later (BNPL) phenomenon has its roots in credit cards and financing schemes of yore, such as layaway. However, unlike its predecessors, it feels like a win-win for both the customer and retailer as a modern one-click payment option.Popping up at checkout, the POS Financing platform allows customers to finance large or small ticket items with either no payment or just a small initial payment. There were a few key trends that led Meidad Sharon, the CEO of ChargeAfter to come up with the idea for the company. The first was the power of financing. Since only 3% of consumers that reach an ecommerce website end up buying something, he saw an opportunity to close that gap with improved lending and financing options. The way he saw it - the more financing options that can be offered to consumers, the less they would abandon their carts. The second was the power of embedded finance. The natural flow of the consumer journey is more successful when the payment and lending process is embedded in a seamless checkout experience. At the same time, merchants were also starting to take more control of the lending process and include financial services in their offerings to customers.