SuiteRetail Launches SuitePOS with Square Installments to Facilitate Consumer Financing During Checkout
Mid-Market retailers can now offer shoppers the freedom to pay for larger purchases by splitting them into easy, fixed monthly payments at the point of sale.
SuitePOS, a revolutionary point-of-sale solution aimed at mid-market and enterprise retailers on NetSuite and Salesforce, now supports the new Square Installments service, an elegant and easy to use consumer financing solution.
The flexibility and instant approval provided by SuitePOS with Square Installments will directly translate to a better customer experience and more revenue opportunities.
With the freedom to break big purchases into smaller monthly payments, shoppers can buy higher ticket items they may not have been able to purchase upfront and purchase more things. The best part is merchants get paid up-front while Square Capital bears all the risk.
Consumer financing at the point of sale has, historically, been a challenge. The whole approval process is slow, lengthy and counter-intuitive, and shoppers are wary of participating. SuitePOS with Square Installments changes this. Financing can now be done, at the point of sale, in less than 30 seconds.
It works as follows:
- The clerk rings up the sale, as normal, in SuitePOS
- The customer goes to a specific link (or scans a QR code) on their phone and completes the easy application
- On approval, a single use electronic card is securely and immediately sent to the customer
- The clerk uses the card to complete the sale
“We are super excited for Square Installments since we sell a lot of big ticket items, allowing customers to spread the cost of the items in smaller installments,” said Devin Becker, VP, Becker Safety and Supply. “it will definitely help drive more sales and get us paid like a credit card!”
It is a proven fact stores that offer financing options sell more, and each customer that opts for financing, buys more. It is also a fact these stores are not maximizing shoppers’ desires to buy now and pay later and are therefore leaving significant revenue on the table. SuitePOS with Square Installments solves this problem.
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