Financing Fusion: ChargeAfter Partners with Wells Fargo to Expand Point-of-Sale Options

Wednesday, 16/08/2023 | 12:00 GMT by Jared Kirui
  • Merchants using ChargeAfter can offer Wells Fargo’s private label credit programs.
  • The partnership aims to enhance point-of-sale financing across sectors.
BNPL

The point-of-sale financing company, ChargeAfter has partnered with Wells Fargo Retail Services, a division of Wells Fargo Bank. The partnership aims to provide a streamlined and frictionless experience for shoppers seeking financing options while making purchases.

According to a statement emailed to Finance Magnates, the company said that by integrating Wells Fargo’s private label credit programs into its platform, ChargeAfter allows merchants to offer fast approvals and attractive terms.

Buy Now Pay Later

Merchants across various sectors, including home goods, home improvements, outdoor living, and jewellery, are expected to benefit from the partnership, ChargeAfter said. Additionally, consumers are expected to access these benefits in a fast and efficient embedded process at the point of sale through this collaboration.

Meidad Sharon, the CEO of ChargeAfter, said: "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. 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."

In April, ChargeAfter expanded its network of lenders in Canada in partnership with Tabit, a business-to-business Buy Now Pay Later (BNPL) service provider. This partnership is geared towards empowering Canadian merchants to offer enhanced financing choices to their business clients directly at the point of sale.

ChargeAfter’s Global Expansion

Through the collaboration with Tabit, ChargeAfter provides merchants with instalment options ranging from 30 days to 12 months, the company said when unveiling the product. Sharon highlighted a shift toward embedded point-of-sale financing as a critical aspect of growth in the sector.

Last year, Finance Magnates reported that ChargeAfter had raised USD $44 million in a series B funding round towards enabling the company to offer financing options for multiple lenders through a single application process. The funding round attracted major financial institutions, including Citigroup, Banco Bradesco, and Mitsubishi UFJ Financial Group (MUFG).

Announcing the funding round, ChargeAfter pointed out the limitations often faced by consumers due to a lack of diverse BNPL options and high decline rates. ChargeAfter noted that its business model was looking beyond a single-lender model. The company reportedly has pre-integrated global financing lenders and banks on board.

The point-of-sale financing company, ChargeAfter has partnered with Wells Fargo Retail Services, a division of Wells Fargo Bank. The partnership aims to provide a streamlined and frictionless experience for shoppers seeking financing options while making purchases.

According to a statement emailed to Finance Magnates, the company said that by integrating Wells Fargo’s private label credit programs into its platform, ChargeAfter allows merchants to offer fast approvals and attractive terms.

Buy Now Pay Later

Merchants across various sectors, including home goods, home improvements, outdoor living, and jewellery, are expected to benefit from the partnership, ChargeAfter said. Additionally, consumers are expected to access these benefits in a fast and efficient embedded process at the point of sale through this collaboration.

Meidad Sharon, the CEO of ChargeAfter, said: "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. 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."

In April, ChargeAfter expanded its network of lenders in Canada in partnership with Tabit, a business-to-business Buy Now Pay Later (BNPL) service provider. This partnership is geared towards empowering Canadian merchants to offer enhanced financing choices to their business clients directly at the point of sale.

ChargeAfter’s Global Expansion

Through the collaboration with Tabit, ChargeAfter provides merchants with instalment options ranging from 30 days to 12 months, the company said when unveiling the product. Sharon highlighted a shift toward embedded point-of-sale financing as a critical aspect of growth in the sector.

Last year, Finance Magnates reported that ChargeAfter had raised USD $44 million in a series B funding round towards enabling the company to offer financing options for multiple lenders through a single application process. The funding round attracted major financial institutions, including Citigroup, Banco Bradesco, and Mitsubishi UFJ Financial Group (MUFG).

Announcing the funding round, ChargeAfter pointed out the limitations often faced by consumers due to a lack of diverse BNPL options and high decline rates. ChargeAfter noted that its business model was looking beyond a single-lender model. The company reportedly has pre-integrated global financing lenders and banks on board.

About the Author: Jared Kirui
Jared Kirui
  • 1384 Articles
  • 19 Followers
About the Author: Jared Kirui
Jared is an experienced financial journalist passionate about all things forex and CFDs.
  • 1384 Articles
  • 19 Followers

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