by NEW YORK – ChargeAfter, the embedded lending platform for point-of-sale financing announced that Citi Retail Services, one of North America’s largest and most experienced retail payments and credit solution providers, selected ChargeAfter as a technology provider for its Citi Pay products, including Citi Pay Credit and Citi Pay Installment Loan.
Citi Retail Services’ collaboration with ChargeAfter gives participating online merchants the ability to seamlessly integrate Citi Pay products, which include a digital-only credit card and monthly installment loan, into their point-of-sale experience. Citi Pay products give customers flexibility in their budgets and puts them in control of how they want to finance their purchases.
ChargeAfter’s Lending Hub for banks bridges the gap between merchants and lending banks by streamlining the complex process from product creation and management to the deployment and distribution of lending products. The Lending Hub for banks also enables swift merchant onboarding and integration for bank lending partners, allowing them to offer various financing options to merchants and their customers at scale.
“We are excited to join forces with Citi Retail Services, leveraging elements of ChargeAfter’s Lending Hub to empower and support the Citi Pay family of digital payment products to meet the evolving demands of the merchant community. This collaboration is an affirmation of the capabilities of our Lending Hub for leading payment providers,” commented Meidad Sharon, founder and CEO of ChargeAfter. “Our nimble, cutting-edge technology and rapid go-to-market tools for banks position us to support Citi Retail Services in expanding its Citi Pay products and enhance the customer experience at checkout.”
“Our collaboration with ChargeAfter enables us to quickly and seamlessly embed Citi Pay products into our merchant partners’ point-of-sale, which furthers Citi’s more than 30-year commitment to providing merchants and consumers with the secure and flexible payment options they desire,” said Terry O’Neil, Head of Connected Commerce and Strategic Growth Initiatives for Citi Retail Services.
The company also shared the following key benefits for furniture retailers and their customers.
+ Through Citi Pay, furniture retailers will be able to self-onboard and easily integrate Citi Pay products, which include a digital-only credit card and monthly installment loan, into their digital point-of-sale experience.
+ Their customers will benefit from greater flexibility in their budgets, which is especially important for big-ticket items, such as furniture. The Citi Pay products will give shoppers greater control over how they finance their purchases.
+ With Citi entering the consumer finance market, both furniture shoppers and merchants are also able to benefit from a safe lender with a robust balance sheet and with more options for finance at the checkout.
