Finturf brings point-of-sale (POS) financing to underserved businesses like brick-and-mortar retailers and service providers. Use it to convert more customers at checkout by helping them buy now and pay later.
Finturf is easy to use and can be effortlessly integrated.
After you are approved as a merchant, it only takes a few clicks to start using Finturf’s cloud-based POS financing solution.
We regularly update our platform, reporting tools, dashboard, and lender network. Additionally, our IT team is ready 24/7 to help resolve tech-related issues.
With Finturf, merchants don’t have to wait for their customers to pay back the loan to get paid. Instead, merchants receive the funds in full within two to three business days.
Finturf’s POS solution gives your clients financing options that allow them to buy now and pay later. Given the flexibility of paying in installments, consumers are more likely to choose you over the competition. And as a merchant that alleviates financial stress, you can improve customer satisfaction.
Finturf’s waterfall algorithm increases the likelihood that your clients connect with a financer. If your client is not connected to the first provider, their request moves through our system to additional lenders.
Once your clients submit a request through Finturf’s platform, they can receive on-screen results in minutes. If approved in-store, your customer can leave with the product or scheduled service.
Finturf only conducts soft credit checks, minimizing the impact to your clients’ credit scores. Additionally, our partnered lenders may be willing to work with super-prime and subprime applicants.
Merchants who sign up with Finturf access new customers thanks to our mobile app. Through the app, customers are connected to local merchants offering the products, services, and financing they're looking for.
Finturf’s POS financing solution is an end-to-end platform that is plug-in-and-play ready.
Finturf takes care of all the heavy lifting for you by providing you with the tools for in-house POS financing. As a result, our partnered lenders process, underwrite, and fund loans for you.
Finturf offers custom white label solutions, allowing merchants to rebrand and customize our platform.
Finturf’s user-friendly dashboard allows merchants to filter by pending, approved, and rejected requests. The information can further be broken down by location and salesperson. Moreover, merchants have the freedom to choose which lenders they work with.
Finturf’s dedicated relationship team onboards new merchants, offers one-on-one training, and provides ongoing support through monthly meetings. Additionally, our hands-on account managers personalize Finturf's services to your needs, helping you grow and achieve your goals.
“Finturf is the platform of choice for us! A true waterfall lender that has a program for every client need. A game changer for us here.”
- Kevin Doran, VP of Sales and Operations, Rooter Hero
“Our experience with Finturf has been exceptional. Their customer service is top-notch, and their seamless approval process has consistently helped our clients secure the best financing options available. We highly recommend Finturf for anyone seeking reliable and efficient lending solutions.”
- Josh Looser, Chief of Sales, Haven Hub
“Our company has been using Finturf for about six months now. Brandi, our loan rep, has been very helpful and responsive to all our loan questions and needs.”
- Jessica Beckham, Operations Manager, H&E Comfort Services, LLC
By integrating Finturf’s POS solution, merchants can benefit from increased revenue, customer acquisition, larger ticket purchases, and client retention. Ultimately, this is done by allowing customers to purchase services and goods they otherwise would not be able to afford in full. As a result, we help underserved brick-and-mortar merchants in the retail and service industries compete and grow.
With Finturf, lenders can obtain POS financing leads without the need to increase marketing spend. Instead, Finturf will handle your marketing and merchant relations. As a result, lenders will access exclusive, tailored leads without the need to hire a support team. Additionally, we offer automated and optimized lead generation algorithms with customizable integrations, screening metrics, and smart forms.
Through Finturf, SaaS partners maximize their revenue per lead by connecting to a network that offers better lead monetization opportunities. Moreover, our partners receive an additional source of income from their merchant networks who have implemented a POS solution. As a result, SaaS partners can increase revenue and customer experience simultaneously.
For banks, fintech, and local lenders offering POS financing, Finturf is a platform that generates POS financing leads. Unlike some POS marketplace platforms, Finturf provides merchant underwriting and lead exclusivity.
Point-of-sale, or POS, refers to the moment a customer purchases your product. A point-of-sale purchase is any transaction. "Point" refers to a location. The point-of-sale is the transaction event itself, while the point of purchase refers to the checkout area.
A point-of-purchase strategy entails finding ways to entice customers to make a higher dollar purchase before the point-of-sale or checkout occurs. Not only does POS financing enable point-of-sale transactions, but it also encourages the customer to spend more.
Point-of-sale (POS) financing is a closed-end credit solution. Like a credit card, it allows the customer to buy now and pay later. But unlike a credit card, the line of credit ends as soon as the customer pays back the agreed-upon amount. POS financing is a solution for high-dollar transactions that consumers would otherwise not be able to afford or would charge to a credit card. Your customer needs your product, and you need to make a sale. With POS financing, the customer can purchase your product, even if they don't have the cash for it upfront, without fear of going into immediate debt. It's a new name for an old concept.
It works by integrating with the checkout process. At checkout, merchants can offer POS financing along with other payment options such as Visa, MasterCard, Digital Wallets, and PayPal.
Through some forms of POS financing, both the retailer and the customer can receive the benefits of their transaction instantly. You, the retailer, will receive your money in full, and the customer will receive their product. Payments on the product are arranged between the customer and the lender. POS financing allows the customer to make multiple installment payments on a big-ticket item over time. This enables you to close a sale and the customer to quickly get what they need. It's a win-win!
To start offering POS consumer financing, a business should first decide whether to provide in-house financing or partner with a third-party financing company. After selecting the appropriate financing model, the business should establish clear payment plans, terms, and conditions that align with its products or services. Finally, the business should integrate the financing option into its POS system and promote the new financing options to customers through marketing campaigns and sales personnel, ensuring a seamless and accessible experience for clients.
In short, you can grow your business with results unique to POS financing. Developing a strong POS strategy is key to delivering a seamless experience to customers, incentivizing them to come back. POS financing should be an important aspect of your overall POS strategy for several reasons:
The data doesn't lie; nearly 40% of point-of-sale purchases are made on credit, and of credit-users, 74% think installment plans are helpful when making large purchases upfront.
Consumers have spoken, and they've made it clear that they value purchasing power over credit card rewards and high credit limits. They want payment options that won't penalize them and send them into immediate debt. POS financing puts purchasing power back in the consumer's hands, and offering this service will make your business more consumer-friendly overall.
Customers are looking more and more to nontraditional payment methods, and offering a flexible payment plan through Finturf's POS financing can give you a leg up on the competition.
As the lending industry continues to sky-rocket, it's more important than ever to understand the customer better than anyone else and offer services that cater to the customer's needs. POS financing is a revolutionary strategy that opens your company up to a business you could not obtain otherwise. Here's how:
The answer is, almost unequivocally, yes! Retailers in nearly every industry can benefit from POS financing, and for some industries, it's practically a necessity. If you choose to go with POS financing, you'll be in good company as more and more retailers discover the potential of this new-name, old-concept payment method.
For small businesses, POS financing offers the opportunity for growth. For large corporations such as Walmart, which utilizes Affirm, POS financing solutions are an opportunity to retain their customer base.
Another unequivocal yes. POS financing is seen as a safer alternative to credit cards, and consumers have shown that they look more favorably upon zero-interest POS financing than traditional lines of credit. Buy now, pay later platforms are a simplified, transparent route for consumers who want to make installment payments. One of the greatest aspects of POS financing on the consumer end is that it is predictable. When signing up for a POS financing option, consumers are in the know about exactly how much they will owe and when, and there's no doubt about when they can expect to clear their debt.
One of POS financing's biggest proponents is MasterCard, which recently acquired Vyze, a POS financing platform, for an undisclosed amount. MasterCard did this because they know that credit card use is declining among Millennials and Gen Z-ers, who will make up 40% of the market in 2021.
POS financing gives consumers the best of both worlds — they can safely and transparently make installment payments on a purchase without committing to a credit card.
POS financing is relevant to all retailers, but especially those who sell high-ticket items and services. For example, funeral services, medical services, retailers of appliances, and heavy equipment.
For many consumers, purchases with a large finance point but without financing are not realistic. Simultaneously, they may be wary of using traditional credit lines that charge high-interest and come with severe penalties. Acquiring the money needed to make essential, high-dollar purchases may take a while, meaning consumers are delaying purchases they would readily make, and merchants miss out on sales.
POS financing isn't just for big-name retailers like Walmart. POS financing is becoming more prevalent even for small, casual purchases. Small businesses can use point-of-sale financing companies, with many benefits to small business owners. Benefits include:
There's no better time than now to get started. The market still isn’t saturated, and industry experts expect POS to keep growing in popularity.
With this in mind, there's no time like the present to get started. Here at Finturf, we can help set you on the right path. Contact us today for more information about what we have to offer!
To learn more about POS financing, contact us at Finturf.
After implementing our POS financing solution, you can let your customers know that they can buy the things they want now and pay later.
Finturf's financing option may be able to increase your sales thanks to our vast network of lenders that work with all credit types. To start generating more revenue, complete our merchant signup form to speak with a team member.
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