Top 100 retailer makes big move to simplify consumer finance process

LIVERPOOL, N.Y. — Top 100 retailer Raymour & Flanigan’s newest partner allows it to streamline the credit application process at checkout, eliminating consumer pain points.

The Liverpool, N.Y.-based retailer is teaming up with point-of-sale consumer financing platform and network ChargeAfter to power point-of-sale financing online and in its brick-and-mortar locations.

ChargeAfter will connect Raymour & Flanigan’s current prime, near-prime and sub-prime lenders, allowing the integrated process to approve up to 85% of customer applications. During checkout, customers will complete a single, quick application and instantly receive the best approved financing offer based on their unique credit profile and needs.

ChargeAfter will integrate seamlessly with Raymour & Flanigan’s point-of-sale system and devices in-store, allowing customers to apply on Raymour & Flanigan’s customer-facing technology or a personal mobile device. This improved flexibility, simplicity and ability to get customers approved is anticipated to help Raymour & Flanigan grow its financed sales by 25% in the coming years.

“The customer experience is tremendously important to our business, and increasingly we’re seeing that consumers want access to more personalized and flexible financing options without the stress of being declined or having their credit checked by multiple lenders,” said Chris Lloyd, head of payment solutions at Raymour & Flanigan.

“ChargeAfter gives us the power of a fully branded financing experience and expands our reach by allowing us to offer customers personalized financing regardless of where they want to shop. With ChargeAfter, we have the peace of mind that our point-of-sale financing is powered by a proven platform and deep industry expertise, so we can focus on giving our customers a superb furniture buying experience.”

With ChargeAfter, Raymour & Flanigan will be able to provide a range of financing products outside of its existing private label credit card and lease to own options, potentially including card-based installments, BNPL and B2B financing, all with a single integration.

ChargeAfter will supply Raymour & Flanigan with access to real-time performance and transaction reporting as well as the ability to settle, upsell, refund and partially credit transactions with the click of a button. This access will be 100% managed and controlled by Raymour & Flanigan, which can make decisions or changes in real time to immediately influence performance or reporting.

“We’re honored to partner with one of the most well respected and established furniture retailers in the United States,” said Mark Denman, executive vice president of merchant sales and success at ChargeAfter. “As consumer preference for point-of-sale financing continues to grow, Raymour & Flanigan sees that having the ability to meet those needs for the full credit spectrum will be critical to their success.”

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