blog address: https://chargeafter.com
The coronavirus epidemic in 2020 and
2021 forced firms to reevaluate and speed up their digitization initiatives
more than ever. Years-long planned digitization efforts were finished in a
matter of months. These modifications will remain as we move deeper into 2021.
The fintech industry, in particular
how established companies involved finance on a different level by integrating
financial processes into their whole company plan, is one of the most famous
examples of digitalization. With an expected market price of above $138 billion
in 2026, it's obvious
that the embedded finance age is here to stay and not simply a passing trend in
It can be difficult to grasp what this
term actually means for individuals who are just getting familiar with the
idea, as it is with any new ideas. The use of financial instruments or services
by a non-financial provider, such as loan or payment processing, is known as
embedded finance. An electrical retailer, for instance, might provide
point-of-service insurance for items purchased in-store.
Consumer financial processes will be
streamlined through embedded financing, making it simpler for customers to
access the services they require when they do. In the past, customers might
have needed to physically visit a bank branch to request credit in order to
make a significant purchase. Thanks to embedded finance, they can now do both
at the same time at the point of service. ChargeAfter,
Amazon's EMI financing choices, Klarna, and Afterpay are some of the best-known
examples of embedded finance.
The simplicity of embedded finance for
consumers is one of its main advantages. Customers could be more likely to
finish a purchase and enjoy customer pleasure, which is crucial for fostering
brand loyalty, if pain points experienced by consumers are eliminated, such as
the requirement to seek credit elsewhere. Because customers are more inclined
to buy something and return to do so often, firms may have the possibility to
But ease isn't the only benefit of
embedded finance. It also serves as a tool for a greater understanding of
consumers, their requirements, and their purchasing patterns. Later, this
information can be used to motivate more corporate growth.
Five types of
Buy Now Pay
Modern consumers are opening a new
line of credit thanks to buy-now, pay-later services. Consumers are empowered
to shop differently when they have access to a greater variety of things that
can be paid for overtime, whether they decide to spend more on a newborn's
travel system or a higher-end piece of home equipment. The consumer is given
the option to divide the payment in order to avoid large transactions. The
finest part is that the customer pays nothing extra if the payments are made
according to the payment plan. Therefore, the top financing platforms,
including ChagreAfter, are providing BNPL credit at 0% interest
Integrated lending, which developed
from BNPL, goes a step further with loans. Businesses looking to fund larger or
more substantial purchases can integrate these financial instruments. To be
able to lend responsibly, they frequently need more information, such as
information on creditworthiness.
In contrast to BNPL lending, POS
financing may include interest charges, however, these are still less than
those charged by banks. Additionally, the application process is more pleasant
and the application form is simpler. Additionally, POS financing has grown in
popularity with physical and mortar-retailers. For instance, Raymour and
Flanigan, one of the major furniture merchants, recently began collaborating
with ChargeAfter to
equip its retail locations with point-of-sale financing.
Customers may wish to make certain
that, should the worst occur, their money won't be wasted while investing in a new
good or service. Integrated insurance comes into play in this situation.
Businesses are in a better position to provide insurance fast by integrating
insurance finance technologies.
Users can connect with their physical
bank to make investments in a way that suits their current financial condition
and spending patterns thanks to embedded finance capabilities in investment
applications. This is an illustration of how a different sort of financial
services provider has used embedded finance.
A fintech API called
fintech-as-a-service enables businesses, including non-financial ones, to
integrate financial functionality into their current goods, services, and
The use of financial
technology-as-a-service products in a whole is growing, from billing to
customer acquisition and all in between.
Creating an embedded financial
strategy that meets their demands can be the first step for businesses. This
entails assessing your digital requirements and choosing the tools you want to
integrate. Identifying your company's objectives for its integrated finance
initiative is the first stage in that process.
These could include initiatives like
enhancing customer service, expanding an existing clientele, or starting a new
business to cater to a particular target market or demand. For instance, if you
want to enhance client pleasure and service, one strategy to consider is
For some customers, a BNPL model might
increase access to products or services. You could
find it simpler to establish yourself as a one-stop-shop concept with embedded
insurance. But before choosing the best option, you must first be aware of your
Lenders and Consumers
If your business is a retailer,
helping consumers and lenders can also help you. For this reason, ChargeAfer
developed a platform wherein lenders are assigned to stores, connecting them to
customers who want to finance.
In other words, ChargeAfter's multi-lender P2P
platform connects the
three parties in a way that is mutually beneficial.
is a leading multi-lender platform for Buy Now pay later (BNPL) Consumer
Financing. It connects businesses with the most reliable lenders, enabling them
to offer customers the greatest financing solutions. With the best system of
Waterfall Financing, ChargeAfter guarantees BNPL lending to every shopper, by
matching the most relevant lender to every client. Using the unique consumer
financing technology, ChargeAfter provides all parties, merchants, lenders, and
consumers, with the best shopping experience. Phoenix, MUFG, VISA, Bradesco,
BBVA, Synchrony, PICO Partners, CITI, Propel Venture Partners, Plug and Play,
and other companies worldwide are among the investors of ChargeAfter.
keywords: ChargeAfter, Buy Now Pay Later, BNPL, consumer financing, consumer finance, shop now pay later, payment plan, online BNPL, in-store, BNPL, BNPL white-label for banks, multi-lender BNPL, Point-of-sale, payment plan, split payments, get now, pay later,
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