Flexiti Financial launches POS lending platform for merchants, consumers

Retailers across Canada now have access to an online financing platform that integrates into any ecommerce engine, offering a low-cost solution. The offering for Canadian retailers overcomes two key hurdles – speed of implementation and cost - as ecommerce continues to grow.

Flexiti Financial’s POS lending platform offers low rates for retailers who want to offer their customers flexible payment options, such as 0% interest financing. Customers do not require an existing credit card to apply. They can select “Pay with Flexiti” at checkout, apply, and receive approval for Flexiti’s virtual credit card. Merchants receive payment in less than two days.

Flexiti Financial’s new online financing product provides customers with access to open credit, with interest rates as low as 0%, through its virtual credit card, eliminating the need to reapply for financing towards future purchases.

For merchants, the product is a major advantage over instalment loans which require new applications for each purchase. Flexiti Financial’s online lending platform is integrated with its existing in-store POS system, allowing retail partners to offer the same financing solution across all sales channels to increase revenue and build loyalty through repeat purchases, whether in-store or online.

Flexiti Financial also offers Plug & Play extensions, free of charge, for ecommerce platforms like Magento 1, Magento 2, WooCommerce, Open Cart and PrestaShop. As a result, in just a few days, merchants can begin offering a new payment option to drive sales.

In the coming decade, it is estimated that 35% of Canadian retail sales growth will be delivered online, up from 7% today. Forty-two per cent (42%) of customers are more likely to shop at an e-retailer that offers financing, and retailers that do have seen a 15% increase in the order value at the point of check out.