Payments firm Visa has made an undisclosed investment in POS financing technology platform ChargeAfter.
The two have also struck a strategic partnership, offering additional credit options to customers at checkout.
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Under the partnership, Visa’s seller, acquirer and issuing bank network will leverage ChargeAfter to offer POS financing instruments to in-store as well as online sellers.
Moreover, the alliance will allow Visa’s issuing banks to join ChargeAfter in the role of direct lenders.
Visa Innovation Studio Tel-Aviv head Shahar Friedman said: “Working with ChargeAfter, we aim to make it easier for sellers and financial institutions to offer a range of tailored, personalised financing options at the point of sale, allowing consumers to manage their payments in a way that works for them.”
ChargeAfter links merchants and lenders to offer personalised POS financing options to customers at checkout.
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By GlobalDataThe firm’s platform is said to boost sales by up to 45%.
The latest deal comes shortly after Visa’s investment in B2B payments firm Currencycloud as part of its Series E funding round.
As part of the deal, Visa SVP and treasurer Colleen Ostrowski joined the Currencycloud board.
Visa recently also snapped up Plaid, a fintech firm that connects bank accounts with fintech apps, for $5.3bn.
