Point-of-Sale lending tops $391 billion per year.
Established brick-and-mortar retailers lose substantial sales every day as shoppers search the Internet and discount outlets for a better price. With POS lending, smart retailers can close more sales on big ticket products and services before the shopper decides to mull their decision overnight. In fact, a recent financial study showed retailers who don’t offer POS financing risk losing 44% of potential revenue from lost sales and lost up-sell opportunities. And a good percentage of those sales will go to the competition.
Competitors armed with fintech tools.
Point-of-sale financing has become highly competitive as lenders use mobile apps to deliver a simple, digital-only consumer experience. It’s next to impossible for traditional systems to keep pace with lenders who routinely present pre-populated loan applications and provide quick approvals while the buyer is waiting and watching.
Fully managed, cutting edge specialized lending software system.
Point-of-sale lending, especially digital POS lending, is a highly effective way for retailers to close more in-store sales and reduce online basket abandons. So it’s a smart move for retailers who offer electronics, appliances, or almost any product or service with a substantial price tag. Including healthcare and medical treatments like plastic surgery or dental procedures.
Turnkey Lender delivers a comprehensive POS financing platform that’s the foundation for your high performance retail lending operation. This fully managed, award winning system is easy to deploy from the cloud and easy to customize. If you or your customers have questions we’re always available with 24/7 technical support and customer service.
Our origination and account servicing software functions at warp speed and evolves in real time, which means your system will remain state-of-the-art over time. The platform completes the decision process in minutes, instead of hours without compromising data security, pricing accuracy or risk tolerance. And the account management system mines customer data for up-sell and cross sell product opportunities to improve customer lifetime value. In addition our proprietary credit scoring algorithms use machine learning and data analysis to monitor credit risk and adjust pricing.
You will convert more browsers to buyers, and increase their average basket.
MoneyVeo is completely satisfied with the solution and recommends this company as a supplier in the area of lending, scoring, credit risk management, and consulting…
Jonathan Sarmina, CEO, MoneyVeo, Mexico
Retail Lending Software – Key Business Benefits
Click on Turnkey Lender Advanced Point-of-Sale Financing Software to learn more about our key business benefits.