Fiserv introduces the “Buy now, pay later” installment payment option
Fiserv, a leading global provider of financial services technology solutions, announced that retailers using its digital commerce technology can now allow customers to pay for their purchases with interest-free installment payments.
Online businesses are prone to cart abandonment; installment payments can help retailers reduce this and increase overall ticket sizes. For consumers, especially those without access to a credit card, a “Buy Now, Pay Later” (BNPL) option can allow better budgeting for purchases.
First, when you need money, whether it is for an emergency or something else, you should always check installment loans.
Fanatics, a global leader in merchandise, is leveraging the installment payment option through Fiserv and QuadPay to allow customers to pay in installments. Customers can use installment payments while shopping on the company’s list of online stores including Fanatics.com, SportsMemorabilia.com, FansEdge.com and international properties, or through the Fanatics mobile app in choosing QuadPay as the payment option during checkout. Customers paying with QuadPay can split the payment into 4 interest-free installments spread over 6 weeks, giving them the flexibility to budget their purchases.
“Fanatics is taking steps to provide customers with a consistent and seamless omnichannel shopping experience, whether sports fans shop online, on their phones, in stadiums or at sporting events. By adding QuadPay to the payment options we enable through Fiserv, we are giving our customers an additional level of purchasing flexibility at a time when many consumers need it most, ”said Chris Orton, Global Co-President of Retail direct-to-consumer fanatics.
“Within days of the launch of QuadPay, many merchants are seeing conversion rates increase up to 20% and average order values up to 60%. We are working with Fiserv to deliver a solution that delivers value to both merchants and consumers, ”said Brad Lindenberg, co-CEO of QuadPay.
“Fiserv is building differentiated payment experiences designed to help our customers create more commerce. Adding an installment payment option enables companies like Fanatics to provide their customers with the flexible purchasing capabilities that consumers want, ”said Mark Hennin, senior vice president of Global Business Solutions Lending at Fiserv.
Recently. Fiserv introduced AllData connection to manage the aggregation of external accounts.
Established in 1984, Fiserv is a global provider of payment technology and financial services. FinTech aspires to move money and information in a way that moves the world. FinTech is a member of the S&P 500 Index and the FORTUNE 500 and is one of the FORTUNE World’s Most Admired Companies.