System integrators can leverage digital revolving credit to increase repeat purchases, improve customer loyalty, and drive higher average order value for their merchant clients
NEW YORK, NY / ACCESSWIRE / FuturePay Holdings Inc., a provider of digital revolving credit solutions for online merchants, today announced the availability of its MyTab™ revolving credit product to system integrators (SIs) that develop and manage ecommerce platforms for their clients. Easily added to a retail website’s shopping cart through a “plug-and-play” API, MyTab is a secure, reliable, and intuitive consumer financing solution with advantages that outpace traditional credit cards and installment loan options. Through this service, consumers can easily apply for and use revolving credit to pay for purchases. FuturePay currently maintains integrations with major ecommerce platforms such as Shopify, Magento, and PrestaShop, serving an addressable market of more than two million online retailers.
MyTab’s capabilities enable system integrators to help online merchants who are looking to increase repeat business, reduce churn, and improve customer lifetime value. It is designed to uniquely serve the needs of ecommerce vendors, particularly those offering products and services that lend themselves to recurring purchases. MyTab offers generally lower merchant fees compared to traditional credit cards and online installment credit providers. The solution gives consumers an always-available line of credit, with more flexible payment terms than the installment credit programs. As a revolving credit program, MyTab encourages repeat and subscription-based purchases that build recurring revenue, develop customer loyalty, and reduce average customer acquisition costs.
FuturePay offers flexible business models to system integrators looking to deliver intuitive and secure revolving credit capabilities that can strengthen merchant relationships.
“MyTab’s revolving credit solution represents a unique ‘buy now, pay later’ option for ecommerce platforms by enabling consumers to fund purchases through a customized payment schedule, as opposed to a rigid installment-based loan,” explained Tim Harris, FuturePay’s chief executive officer. “The availability of a MyTab account fosters long-term relationships that satisfy the evolving needs of both merchants and consumers.”
Headquartered in New York, NY, FuturePay Holdings, Inc. provides a robust digital credit platform that delivers secure, cost-effective, and easy-to-implement revolving credit for online merchants. FuturePay’s MyTab™ solution offers a competitive fee structure compared to other credit products and enables businesses to provide an intuitive and attractive revolving credit option to their customers. The company’s low-friction, “click to pay” technology allows merchants to lower their shopping cart abandonment rates, increase average order value, drive more repeat business, and enhance new customer revenue.
Parallel Communications, Inc.
SOURCE: FuturePay Holdings Inc.
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