Customers are more than their credit score
Merchants want an easy and seamless POS financing system that delivers high approval rates quickly, while consumers want to be able to access credit without being pushed into expensive sub-prime options. PayFina delivers an innovative new solution to accommodate both of these needs.
How Does It Work?
Consumer
Fills out a simple online application on their computer, tablet or smartphone.
Checking your offer takes less than 5 minutes and won’t impact your credit score.*
*To check the rate and terms you qualify for, PayFina performs a soft credit pull that will not impact your credit score. If you choose to accept the offer, a hard pull will be done which may impact your credit score.
PayFina
Within seconds, pulls traditional and non-traditional credit data to assess an individual’s risk profile.
Provides a credit decision. Approvals receive financing terms that match the consumer’s unique situation, including extending credit to consumers who may otherwise be overlooked.
Merchant
Completes the sale.
Forwards a copy of the invoice or bill of sale to PayFina.
Receives funding as soon as next day.
Consumer
Fills out a simple online application on their computer or smartphone.
Checking your offer takes less than 5 minutes and won’t impact your credit score.*
*To check the rate and terms you qualify for, PayFina performs a soft credit pull that will not impact your credit score. If you choose to accept the offer, a hard pull will be done which may impact your credit score.
PayFina
Within seconds, pulls traditional and non-traditional credit data to assess an individual’s risk profile.
Provides a credit decision. Approvals receive financing terms that match the consumer’s unique situation, including extending credit to consumers who may otherwise be overlooked.
Merchant
Completes the sale.
Forwards a copy of the invoice or bill of sale to PayFina.
Receives funding as soon as next day.
Ongoing financial wellness support
Credit scores play an increasingly important role for consumers as they navigate the challenges of building a better financial future. PayFina is committed to improving credit access and lowering the cost of financing to consumers who lack access to lower-cost credit. This extends beyond a single purchase. Alongside PayFina’s financing, consumers also get access to a wide range of free Financial Wellness tools to help them build positive credit and save money. This includes:
Ongoing credit monitoring and fraud alerts
Tips and opportunities to improve their credit
Reporting positive payments to credit bureaus
