Cion Digital is to provide merchants and consumers with cryptocurrency-secured financing options at point-of-sale (POS) through its newfound partnership with the multi-lender financing solution Finturf; joining its lender network.
Cion Digital’s modular payments and lending platform provides companies with the connectivity, infrastructure and support needed to deploy compliant blockchain-based real-time payment and lending solutions.
This provision aims to enable businesses to fuel revenue growth by launching new crypto offerings or expanding their existing capabilities.
The Finturf financing solution was developed for merchants and service providers to encourage an increase in their conversion rates and in their revenues of higher ticket items.
Finturf’s technology enables merchants to convert more customers at checkout through options that include buy now pay later (BNPL), split payments and instalment loans from Finturf’s portfolio of loan providers.
Through the partnership with Cion Digital, merchants and service providers — from traditional retail outlets to home improvement and medical service providers — will be able to offer their customers the ability to obtain crypto-secured loans for their purchases.
The facility is forecast to appeal to the growing population of crypto investors who do not wish to divest themselves of their holdings to avoid triggering capital gains or the loss of future earnings by converting into fiat, and to those with thin credit scores unable to access traditional finance at competitive rates.
Snehal Fulzele, founder and CEO of Cion Digital, confirms that integrating cryptocurrency financing options will “increase merchant’s competitive advantage while offering more favourable finance solutions to their customers.”
Adding to these initial comments, Narek Khachatryan, general manager and head of product at Finturf, comments that “the integration not only bolsters merchants’ client acquisition and servicing capabilities, but it also benefits consumers looking for alternative financing options at competitive rates tailored to their individual circumstances.”
Cion Digital’s crypto operating system works to automate crypto orchestration through the provision of turnkey business solutions. The modular crypto payment and marketplace lending platform engages the use of digital, POS payments, cards, loans and the back-office systems that support them; connecting consumers, merchants and lenders with new payment and loan options.