Jifiti's Tap Now, Pay Later™ technology is a flexible payment system that enables banks and lenders to integrate their loans into digital wallets such as Apple Pay. This allows customers to use their approved loans via virtual cards at any point of sale with a simple tap of their mobile device. The technology is designed to increase loan volumes and customer conversion rates by making financing options more accessible and straightforward at the time of purchase.
Tap Now, Pay Later™ is part of Jifiti's modular embedded lending platform, which can be quickly implemented without requiring significant integration with existing systems. This platform supports various financing options, including installment loans and lines of credit, and aims to improve both lender and merchant outcomes by increasing credit utilization rates and sales conversions.
Flexible Payment Features
Jifiti Has Introduced Tap Now, Pay Later™ Technology
Trend Themes
1. Tap-to-pay Lending - The integration of loans into digital wallets for immediate use at points of sale represents a shift towards seamless and accessible financing.
2. Virtual Card Adoption - Leveraging virtual cards for loan disbursement in digital wallets offers a novel way to streamline consumer-financing options.
3. Modular Embedded Lending - The rise of flexible, modular lending platforms that integrate easily into existing systems highlights a trend towards more adaptable and efficient financial technologies.
Industry Implications
1. Fintech - Innovations in mobile-based loan integration and virtual card payments are transforming the fintech landscape.
2. Retail - Retailers stand to gain from increased sales conversions and customer loyalty through seamless financing options at the point of sale.
3. Banking - Banks and lenders adopting flexible, digital-first lending solutions can enhance loan utilization and improve customer experience.