Multi-lender network and data-driven platform streamlines checkout and helps top furniture retailer meet consumer demand for flexible, personalized financing
NEW YORK, Oct. 20, 2022 /PRNewswire/ -- ChargeAfter, the market-leading point of sale (POS) consumer financing platform and network, has been selected by Raymour & Flanigan, the Northeast's largest furniture and mattress retailer, to power point-of-sale financing online and in more than 140 brick and mortar locations. Raymour & Flanigan's focus on providing exceptional customer experiences led it to select ChargeAfter's data-driven decisioning engine and network of lenders to streamline the customerexperience and enhance customer engagement with flexible, personalized financing options.
With a single integration, ChargeAfter will connect Raymour & Flanigan's current prime, near-prime and sub-prime lenders, for an integrated process that can approveup to 85 percent 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 the retailer's customer-facing technology or their personal mobile devices. This improved flexibility, simplicity and ability to increase customer approval rates are anticipated to help grow Raymour & Flanigan's financed sales by 25 percent 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 solutionsat 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 choose 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 smooth shopping experience."
With ChargeAfter,Raymour & Flanigan can provide a range of financing products outside of its existing private label credit card and lease-to-own options, including card-based installments, BNPL and B2B financing, all with a single integration. ChargeAfter will also supply Raymour & Flanigan with access to real-time performance and transaction reporting and the ability to settle, upsell, refund and partially credit transactions with the click of a button. This access will be 100 percent managed and controlled by Raymour & Flanigan, with the ability to make informed decisions and real-time changes that immediately influence performance and reporting.
"We're honored to partner with one of the most well-respected and established furniture retailers in the country," 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 theability to meet those needs across the full credit spectrum as critical to its success. With our multi-lender network, Raymour & Flanigan and other retailers can expand their reach, increase sales and meet the financing needs for more customers without the headache of multiple technical integrations with lenders."
About ChargeAfter
ChargeAfter is the leading multi-lender buy now pay later consumer financing platform and network connecting retailers and lenders to offer shoppers responsible, personalized financing options.
Powered by a data-driven decisioning engine and network of global lenders, ChargeAfter delivers the most relevant financing offers to consumers from multiple lenders based on credit type – resulting in approvals for up to 85 percent of applications. ChargeAfter streamlines the distribution of credit into a single platform that retailers can implement rapidly both online and in-store. The company's growing lender network offers seamless integration to lenders seeking to grow their customer base while expanding into new retail markets.
ChargeAfter investors include PICO Venture Partners, Propel Venture Partners, The Phoenix, Citi Ventures, Banco Bradesco, Visa, MUFG, BBVA, Synchrony Financial, and Plug and Play VC. ChargeAfter is headquartered in New York and has a research and development center in Tel Aviv. For more information, visit https://chargeafter.com/about-us.
About Raymour & Flanigan
Raymour & Flanigan is the premier furniture and mattress retailer in the Northeast. Now in its 75th year of operation, the company serves over one million customers annually through its website and 140 stores across 7 states. Through decades of growth, Raymour & Flanigan believes as strongly as ever in its mission to enhance the customer shopping experience.
Raymour & Flanigan believes strongly in its associates and in the communities it calls home. The company has been certified as a Great Place to Work for three consecutive years, and has built a culture of respect and support for its over 6,000 associates. In addition, over 600 in-store events are held in an average year to raise funds and awareness for causes ranging from disabled Veterans to children's hospitals, school programs and food pantries. Furthermore, in-house recycling centers allow the recycling of 99% of packaging materials, diverting over 200 million pounds from landfills since 2002.
Based in Syracuse, New York, Raymour & Flanigan is a family owned and operated company. For more information, please visithttps://www.raymourflanigan.com/about-us.
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