Financeit launches point-of-sale financing platform
23-08-2016 00:00:00
Financeit launches point-of-sale financing platform

Financeit has launched Financeit Direct, a direct-to-consumer financing platform.This first-of-its-kind tool is simple, convenient and available 24/7 from any location on any device, building on Financeit's reputation as a leading fintech innovator, the company said in a release.


While point-of-sale financing has traditionally been a complicated and paperwork-heavy process only accessible to large merchants, Financeit Direct is mobile-enabled and fully paperless. It takes the burden of processing applications off of the merchants, making the process so simple that companies of any size can easily offer financing and still have time to focus on their core business offerings.


"Our merchant partners and their customers want financing options, but they don't want programs that are complicated or time-consuming. With Financeit Direct, we've developed the next generation of financing. Throughout beta testing, merchants described Financeit Direct as a revolutionary tool that can be customized for their work schedules and routines. Consumers love the quick and easy application process and the added privacy and security, along with Financeit's competitive interest rates," says Michael Garrity, Founder and CEO, Financeit.


With Financeit Direct, service providers retain control of the sale but can invite their customers -- by email or text-- to participate in the application anytime, anywhere. For example, merchants may ask their customers to upload a picture of a void cheque or pay stub directly to Financeit via their mobiles phones, thereby avoiding awkward financial discussions and making the application process smoother and faster. Consumers get instant credit decisions, fair rates and full transparency during the financing process via their own devices, and are then able to work directly with Financeit throughout the loan period.


"We offer our merchant partners and their customers the best of both worlds. Our platform features the security of a traditional financial institution, but it is also flexible, transparent and user-friendly. It's the first point-of-sale financing platform to take full advantage of the mobile revolution that has put a supercomputer in everyone's pocket. We're seeing huge traction already: the majority of our beta test users have already adopted Financeit Direct as a new way of promoting financing for big-ticket purchases," says Paul Sehr, Chief Technology Officer, Financeit.

-K Ramanathan

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