Payments

ChargeAfter partners with Snap Finance for POS financing

Photo: Adobe Stock

July 23, 2024

ChargeAfter, a point-of-sale financing company, partnered with Snap Finance, a pay-over-time financing provider to offer subprime lending coverage for merchants. With this service, customers with subprime credit ratings can access lease-to-own and installment programs at merchants, according to a press release.

In particular, Snap Finance integrated its services into ChargeAfter's network for no-credit required financing options at the point-of-sale.

"Snap Finance is thrilled to partner with ChargeAfter to help merchants deliver our financing options to an underserved consumer segment. Snap's recent research found 44% of credit-challenged consumers avoid retailers that don't offer point-of-sale financing, demonstrating the importance of full financing credit coverage for merchants and their customers," Cooper Blackhurst, SVP of strategic partnership at Snap Finance, said in the release. "Our partnership with ChargeAfter enables us to connect with credit-challenged consumers at their moment of need through an upgraded experience that requires a single application and delivers instant notification of approval."

"We are delighted to partner with Snap Finance, a leading provider of no credit required point-of-sale financing options. This collaboration not only enhances our network of lenders, but also reinforces the value that ChargeAfter delivers to merchants and their customers," Meidad Sharon, CEO and founder of ChargeAfter, said in the release. "By expanding our network, merchants have an additional option to cater to their entire customer base and achieve approval rates of up to 85%, boosting sales and fostering customer loyalty."