ChargeAfter, the embedded lending platform for point-of-sale financing, announced today that it is partnering with Wells Fargo Retail Services, a division of Wells Fargo Bank, NA that facilitates the delivery of consumer private label and industry credit card programs to retailers.
Merchants that use ChargeAfter’s platform to “provide point-of-sale financing will now be able to offer their consumers Wells Fargo’s private label credit programs.”
Wells Fargo’s private label credit programs are “designed to serve consumers with extended promotional terms and fast approvals for qualified consumers.”
These financing options are “critical to retailers and service providers that operate in home goods, home improvement, outdoor living, jewelry, etc.”
Consumers can access the Wells Fargo private label credit product “through a fast and frictionless embedded process at the point of sale.”
Steve Jermier, Senior Vice President of Relationship Management for Wells Fargo Retail Services stated:
“Partnering with ChargeAfter enables us to easily embed our private label card products into the merchant’s point-of-sale. ChargeAfter’s simple integration into e-commerce and in-store POS platforms provides consumers with quick and convenient access to our product. This allows our retailers to provide consumers with financing for their individual needs at any point of sale.”
Meidad Sharon, CEO of ChargeAfter commented:
“We are delighted to partner with a global banking leader such as Wells Fargo. Integrating Wells Fargo’s private label credit products into the ChargeAfter platform enables merchants to easily provide consumers with fast access to the best financial choices available. As embedded lending becomes the new standard for merchants’ checkout experience, our platform maximizes customer buying power where it matters most – at the point of sale.”
As noted in the update, Wells Fargo Retail Services, “a division of Wells Fargo Bank N.A., facilitates the delivery of consumer private label and industry credit card programs to retailers, manufacturers, distributors, associations, and buying groups in a variety of markets.”
As mentioned in the announcement, ChargeAfter is pioneering “the embedded lending network for point-of-sale consumer financing for merchants and financial institutions.”
Powered by a network of lenders and a data-driven matching engine, ChargeAfter streamlines the distribution of credit “into a single, secure, and reliable embedded lending platform.”
Merchants can rapidly “implement ChargeAfter’s omnichannel platform online, in-store, and at every point of sale, enabling them to provide personalized financing choices to their customers.”
ChargeAfter is backed by payment expert investors “including Visa, Citi Ventures, Synchrony Financial, Banco Bradesco, MUFG, PICO Venture Partners, Propel Venture Partners, and The Phoenix.”
ChargeAfter is headquartered in New York with an R&D center in Tel Aviv.
