GLOSSARY: Retail finance platform

Why is it so important to offer retail financing to today’s consumer?

Consumers are increasingly interested in retail financing, and it’s important for retailers to offer their customers at least one alternative method to credit cards. These are the reasons that retail financing is crucial to today’s consumer:

  • With the competitive nature of retail today, merchants must offer their consumers a method to spread the cost of a high ticket item over several fixed payments.
  • Today’s consumer wants their product immediately. Retail financing is able to ensure that they are able to take their items home that day, with most retail finance platforms offering a fast and straightforward loan application process. 
  • Today’s consumer expects a smooth omnichannel retail experience, with a financing program that can match. This can be provided by retail finance platforms that provide streamlined financing across online, instore and mobile applications.  
  • Retail financing provides a convenient way for today’s consumers to manage their finances irrelevant of monthly disposable income. 

What is the retail finance platform?

The retail finance platform is the specific software on which the retail finance program is run. In Jifiti’s platform, for example, a flexible backend supports the integration of several lenders. On the frontend, zero integration is required with the retailer and a white-labeled consumer application is displayed on the retailer’s site. Any application is then routed back to the lenders who process the application in real-time, with funds disbursed via a digital card. 

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Jifiti is redefining retail experiences
with unparalleled data & technology.
Our proprietary consumer finance & gifting solutions bridge the gap between retailers, lenders, and consumers.
We offer retailers a Zero-Integration POS financing, and end to end retail gifting solutions (Gift registry, eCommerce gift checkout, First party gift card solutions).