ECOMMERCE AND POS FINANCING ON AUTOPILOT
Offer flexible payment options in-house to improve margins, customer retention, and lifetime value.
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POS FINANCING SOFTWARE THAT'S POWERED BY AI AND LOVED BY LENDERS
The whole process in-house
Automate all parts of the customer financing process with an end-to-end lending platform you can put in place and launch in days.
Financing decisions
AI-powered credit decisioning helps you approve more of the right applications automatically, making sure you don’t grow the overhead.
Vendor and store management
Finance merchants and separate stores you work with directly via an intuitive ecommerce financing platform that’s accessible to your employees and vendors.
Flexible taxes and fees
The system enables unmatched flexibility in credit product settings, so you can convert more clients with automated, targeted offers.
Loan origination
From application processing to approving the requested product or service, our loan origination module will be a seamless part of the client’s ecommerce journey.
Repayment management
Plug-and-play loan servicing functionality allows for fully automatic financing repayment. Installments are charged and deposited to your account with no human involvement.
Analytics and reporting
Built-in live analytics allow you to keep your hand on the pulse of the business at all times and a flexible reporting module lets you export and use data outside the system.
Risk management
Deep neural networks power advanced borrower evaluation, while various analytical approaches help reduce credit risk to near zero.
MARKET-LEADING ECOMMERCE AND POS FINANCING SOFTWARE
A point of sale financing process your customers will love
76% of consumers say they’re more likely to make a retail purchase if a payment plan backed by a “simple and seamless point-of-sale experience” is available. So why not delight your customers with the most intuitive POS financing software on the market? Address consumer frustration, and increase customers’ lifetime value, with TurnKey Lender’s highly configurable, easy-to-use ecommerce and POS financing software
Let intelligent ecommerce and POS financing software take care of the busywork
Automate all customer loans on your terms, from disbursement to full repayment – with little-to-no staff involvement and human error. Schedules are generated automatically based on loan terms and payments are charged on time thanks to automated personalized push/email/SMS reminders. Whenever your attention is required, you’ll be notified in advance, and our flexible reports module makes it easy to track every loan at all times – at a high-level and in granular detail.
Make smarter, better financing decisions with the help of world-leading AI
Our proprietary decision engine uses both traditional and alternative scoring types to help you automatically make the right lending decisions, every time. TurnKey Lender’s highly customisable ecommerce and POS financing software is an intuitive, robust, and intelligent solution that’s tailored to your unique needs. Simply put, it’s the best way to reduce risk, cut costs and delight your customers.
Educational Resources
Getting started with buy now pay later in the B2C space – crucial choices and how to make them
learn moreBlog Post, Financing Automation & AI
What You Need to Know About In-House Customer Financing & 4 Business Types That Will Benefit From It in 2023
learn more
NOT YOUR AVERAGE ECOMMERCE AND POS FINANCING SOFTWARE
THE ECOMMERCE AND POS FINANCING SOFTWARE THAT'S ON A MISSION TO GROW YOUR BUSINESS
- 58%+ higher average order value
- 20%+ increase in purchase frequency
- 44%+ better sales conversion
- 267%+ boost in operational efficiency
- 75+ pre-configured integrations with every tool a lender needs
LEAVE A LASTING IMPRESSION ON YOUR CUSTOMERS
- Convert more clients thanks to a point-of-sale financing option
- Credit decisioning is custom-made for retail business models
- Eliminate human error and middlemen with in-house ecommerce financing
- Achieve record-breaking time-to-market
- Boost customer sales and loyalty
PRODUCT AND SERVICE PROVIDERS' FAVORITE ECOMMERCE AND POS FINANCING SOFTWARE
TurnKey Lender was selected as top software choices for SME lenders based on banking capabilities typically required for SMEs and ease-of- use.
Gartner featured TurnKey Lender in a recent report researching automation use cases aimed at modernizing loan origination and improving lending processes.
The Everest Group announced that the TurnKey Lender Loan Origination Software (LOS) leads the market in terms of market vision and capability. According to the study, Turnkey outperforms competing products in terms of ability to deliver complex loan origination…
According to a performance test by Hewlett Packard, TurnKey Lender is a flexible configuration choice on a highly scalable and reliable infrastructure.
Competing in one of the most challenging categories, TurnKey Lender has been selected as the winner of the New Product Innovation Award.
TRUSTED BY BUSINESS OWNERS IN 50+ JURISDICTIONS
FAQs
Q:
What is POS financing?
A:
POS (point-of-sale) financing is a type of consumer lending that allows customers to finance their purchases directly at the point of sale. It enables customers to split the cost of their purchase into smaller, more manageable payments over a defined period of time. This financing option is often offered by retailers or ecommerce platforms in partnership with financial institutions or lending companies.
Q:
What is ecommerce financing?
A:
Ecommerce financing refers to the financial services and lending options available to customers specifically for their online purchases. It provides customers with the flexibility to make purchases on ecommerce platforms and spread the cost over time through installment plans or other financing arrangements. Ecommerce financing allows online shoppers to access products and services that may have been otherwise unaffordable or require upfront payment.
Q:
What are the benefits of POS financing?
A:
POS financing offers a range of benefits to both consumers and retailers. For consumers, it provides a more affordable and convenient way to make purchases, especially for larger-ticket items. Instead of paying the full amount upfront, customers can spread the cost over time, making the purchase more manageable for their budget. POS financing also eliminates the need for credit cards or traditional loans, making it accessible to a wider range of customers. It’s not about a one-time sale, it’s about building a relationship of trust with your client – and clients will be pleasantly surprised with the level of experience they are receiving from you. For merchants, offering POS financing can increase sales, attract new customers, and improve customer loyalty and satisfaction. And when you use an intelligent AI-powered POS financing platform like TurnKey Lender, you’ll save hours of time as well, by putting all your decisioning, paperwork and other routine work on autopilot.
Q:
What measurable results can TurnKey Lender’s ecommerce and POS financing platform deliver?
A:
With TurnKey Lender’s intelligent ecommerce and POS financing solution, retailers and service providers can benefit from:
- Time to funding shortened from 7-9 business days to just 30 seconds
- Human error driven down from 30-60% to 15%
- Operational efficiency increases by at least 367%
- A 58%+ increase in average order value
- A 20%+ rise in purchase frequency over 30 days
- Sales conversion is greater by 44%+
- Plus, keep the 2%-6% transaction fees and any additional interest or fees for your revenue that third-party providers would otherwise charge
Q:
How does TurnKey Lender use traditional and alternative scoring types for decisioning?
A:
Our intelligent platform uses traditional scoring types in the following ways:
- Credit/application scoring (using credit bureau data)
- Fraud prevention scoring (to filter out any wrongdoers)
- Financials scoring (evaluating a borrower’s assets)
- Firmographics scoring (accurate evaluation for various types of companies)
The software also uses alternative scoring types for:
- Social network scoring (by factoring in borrowers’ social media signals)
- Mobile/smartphone scoring (by assessing a borrower’s mobile or smartphone data)
- Psychometric scoring (by analyzing a borrower’s psychological profile)
- Bank statement scoring (by automatically pulling bank account statements)