ChargeAfter, the leading technology platform for Multi-lender Point of Sale Financing recently announced a partnership with Visa to integrate with the Cybersource payment management platform. ChargeAfter is also launching Visa’s installment solutions on the ChargeAfter financing platform in the US.
The strategic partnership enables Cybersource’s merchants worldwide to now access and offer consumers more choice and flexibility in the way they pay through personalized point of sale consumer financing. With its global reach, modern capabilities and commerce insights, the Cybersource digital platform offers payment management capabilities to merchants and acquirers in over 190 countries and territories around the world.
With the launch of Visa’s installment solutions on the ChargeAfter platform, participating U.S. merchants can offer their customers an installment payment experience at checkout using a Visa card they already have in their wallet. Eligible Visa cardholders will have the option to divide their total purchase amount into smaller, equal payments over a defined time period. 42nd Street Photo and Tire Agent are already offering Visa’s installments solutions to their US buyers through ChargeAfter.
“As COVID-19 continues to change retail as we know it and drive more shopping online, merchants are adapting to the new realities of online payments; offering alternative payment methods for consumers who are expecting affordable financing options to help them complete their purchases now and pay later,” said Meidad Sharon, CEO of ChargeAfter. “Our collaboration with Visa is a giant leap forward in bringing quick, convenient, accessible, and safe payments to consumers when and where they are ready to purchase – online or in-store. By combining ChargeAfter’s financing platform with Visa’s solutions, we have created a powerful network for multi-lender Point-of-Sale Financing.”
This announcement follows Visa’s investment in ChargeAfter and partnership that was announced in February 2020 to distribute point of sale financing through Visa’s global network of acquirers, gateways, and financial institutions. Working together, the companies aim to further the distribution of consumer financing tools and help merchants drive higher transactions, and approve upwards of 85% of POS financing applications.
“We’re delighted to continue the momentum of our collaboration with ChargeAfter and bring innovative solutions to our clients globally to help them meet an increased consumer demand for simple and flexible payment options,” said Shahar Friedman, Head of Visa Innovation Studio, Tel Aviv. “Through our global collaboration efforts, we aim to make it easier for merchants and acquirers to use Visa’s Cybersource and installment solutions to offer a range of personalized financing options to their consumers at the point of sale, empowering their customers to manage their payments in a way that works best for their unique needs.”
ChargeAfter is a leading multi-lender financing platform connecting retailers and lenders to offer shoppers personalized financing options at the checkout.
With its data-driven decisioning engine and network of global lenders, ChargeAfter delivers the most relevant financing offers to consumers from multiple lenders based on credit type – resulting in credit approvals for up to 85% of customer applications. ChargeAfter streamlines the distribution of credit into a single platform that retailers can implement swiftly both online and in-store. The company’s growing lender network offers seamless integration to lenders seeking to grow their customer base while expanding into new retail markets.
ChargeAfter investors include PICO Venture Partners, Propel Venture Partners, Visa, MUFG, BBVA, Synchrony Financial, and Plug and Play VC.
Headquartered in Sunnyvale, California, ChargeAfter has offices in Dallas, New York, and Tel Aviv.