RETAIL FINANCE

Pay4Later
RETAIL FINANCE
The fastest and easiest way to offer your customers finance
Finance Made Simple
Retail sales in the UK have seen
much friction and they may
the longest period of year-on-
shop elsewhere. Pay4Later is
year growth since 2008. As the
the fastest and easiest way to
economic
offer finance. A modern platform
to
climate
improve,
continues
consumers
are
meticulously designed to deliver
becoming more confident in
a great customer experience
their purchasing habits and are
across all sales channels and
planning to spend more.
using any device.
The convergence of lending
Partnering
and payments, combined with
simple. Our powerful technology
rising consumer confidence has
integrates
created an exciting opportunity
point of sale credit as easy to
for retailers to introduce new
manage as card payments. Our
credit payment solutions and
multi-lender platform provides
gain competitive advantage.
you with the highest acceptance
Customers expect an exceptional
customer experience in every
interaction with your business,
none more so than when they
with
Pay4Later
seamlessly,
is
making
rates and unique up-sell features
that
help
customers,
you
attract
increase
new
average
59%
of customers said that they would
have bought elsewhere if finance
was not available
72%
of customers said that they would
have postponed their purchase if
finance was not available
65%
of customers said that they only
made their purchase because
finance was available
spend and grow your business.
pay for their purchases. Too
Pay4Later - Retail
2
What sets Pay4Later
apart from the
Competition?
At its core, Pay4Later is a software platform
designed to make finance simple for lenders,
retailers
and
consumers.
Through
agile
development and a culture of innovation, we’re
transforming lending at the point of demand.
Our world class technology is developed
entirely in house by our team based in London,
the centre of the fintech revolution.
Complimenting our platform is our skilled and
experienced team of relationship managers and
support professionals, dedicated to providing
a fast, effective response and contributing to
your success.
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3
Multi-tier + Multi-lender
0%
Each lender has their own unique criteria on
which they base their lending decisions. Unlike
other point of sale finance providers, Pay4Later
has a unique digital lending platform connected
4.9%
to multiple lenders, all of whom can consider
offering a range of different APR rates. This
means that customers can be considered by
more than one lender and at more than one rate
9.9%
to maximise their chances of being accepted.
Your customer may apply for 0% interest free
finance, but because their credit score does
not match the lender’s requirements, they
LENDER 1
14.9%
are declined. With our multi-tier, multi-lender
platform, customers who would have previously
been declined are offered up to five alternative
finance products. The result? Higher acceptance
LENDER 2
LENDER 3
19.9%
rates and fewer lost sales.
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Shadow Limits
Actual spend: £1500
Our Shadow Limit feature is a fantastic up-sell
tool that works to maximise your average order
size. Suitable applicants are instantly offered a
higher borrowing limit once they’re approved for
finance, enabling them to upgrade to a superior
product or increase the value of purchase with
additional items.
A Shadow Limit offering may increase the amount
of credit available to your customer by up to three
times the amount originally applied for, giving
Intended spend: £500
your staff the perfect opportunity to sell more,
maximising your profits.
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5
Fast-track Application on all Devices Fast-track Application
on all Devices
Text
Customers expect a seamless journey throughout
the purchasing process. The experience they have
can determine if they purchase or not. Anything
that distracts from their experience or makes the
process too complicated can result in lost sales.
By integrating Pay4Later into your sales channels
you’re
offering
an
exceptional
purchasing
experience and a compelling reason to buy
from you. Our application form is optimised
for all devices including smartphones, so every
customer has a consistent experience. Customers
can save a password to apply faster next time - a
quicker and more convenient checkout option.
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Application & Settlement Process
Midnight
10:00am
10:05am
10:06am
10:10am
00:15am
11:00am
30 days later
Customer
Customer receives
Customer pays
Customer leaves
Pay4Later transmits
Lender settles your
Customer’s first
purchases goods
finance decision in
deposit for goods
shop with goods or
settlement file to
bank account
direct debit
and applies for
under 4 seconds
via Pay4Later
online retailer
the lender
finance
dispatches goods
repayment to
lender
Cashflow is enhanced and credit risk eliminated
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Finance Calculator
Application Form
Application Links
A potent sales tool that enables retailers to
The Pay4Later Credit Application form is
Using
proactively market and sell finance in-store,
simple for your customers to complete and
BackOffice, you can quickly and easily send
simultaneously displaying up to 4 different
optimised for all devices. It can also be white
your customers expertly formatted finance
finance offers with easy fine-tuning of the
labelled with your company’s branding to
offer emails or SMS messages, complete with
deposit and monthly repayments.
enable a seamless customer journey.
your company’s branding.
Pay4Later - Retail
Application
Links
in
Pay4Later
8
Retailer BackOffice
Pay4Later BackOffice hosts a range of exclusive
features including all the tools and reporting to
assist retailers in managing new and existing
clients all in one place.
Your team has the ability to create credit
applications as well as amend, cancel and verify
them. Data is displayed in real time, providing
up-to-date
statistics,
status
updates
and
notifications. There is also a range of training
modules and a live chat support solution,
perfect for training new team members or
solving any queries.
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9
Home Leisure Direct
“ We have been incredibly
impressed with Pay4Later’s
easy to use system, sales
have increased by 45% and
our margin has risen by 9% ”
77 Diamonds
Retail Markets
The retail point of sale market in the UK is growing rapidly. Many of the UK’s largest retailers are now introducing consumer finance online and in-store,
with thousands of SME’s set to follow. Pay4Later works with over 1,000 retailers across a wide range of markets. Whether you sell furniture or jewellery,
electronics or white goods, we can help your business grow.
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The Pay4Later Team
We understand that loyal customers are the key to
any successful business. We also understand that
the value of your brand can be greatly impacted
by the support we provide your customers.
That is why we make every effort to deliver the
highest level of support that we possibly can.
Our support team provides rapid assistance to
your customers and staff, seven days a week.
Our highly skilled Account Managers will be there
for you from initial implementation and training
to seeing your sales grow. You will get to know
them well. They will be your first point of contact
for any questions, can help arrange professional
services or coordinate other resources within
Pay4Later and our partner lenders.
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12
Oak Furniture Solutions
“The BackOffice service and
one to one support provided
by Pay4Later is fantastic and
they’re always at the end of
the phone if we have a query.”
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13
INTEGRATION
MONDAY
TUESDAY
WEDNESDAY
THURSDAY
FRIDAY
Login details &
IP address is
Retailer’s developer
Retailer’s developer
Integration is finalised
integration guide
whitelisted and
initiates work with
continues integration
by updating API key and
are sent to you
integration questions
assistance from
and tests using
installation ID to ‘Live’
answered
Pay4Later support
example data
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Grow Your
Business Today
Pay4Later is the fastest and easiest way to
offer your customers finance, delivering an
exceptional customer experience, helping you
maximise sales and increase spend.
To open an account with Pay4Later please
make sure you meet the following criteria: Your
business will need a turnover of more than
£1Million, 2 years trading history and a positive
balance sheet. Tick all the boxes? Then give our
sales team a call on 0800 021 7150 or email us
at [email protected].
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Pay4Later
Phone
0800 021 7150
Email
[email protected]
Address
33 St Mary Axe
London, EC3A 8AG
Pay4Later is licensed and regulated by
the Financial Conduct Authority.