GLOSSARY: White-labeled financing solution
What does a white-labeled financing solution mean?
The term ‘white-labeled financing solution’ refers to a consumer finance program that is available through the retailer’s website and contains the retailer’s branding. It is made to look as though the financing at checkout is available directly from the retailer, but on the back-end, the software for the financing program is powered by a third-party solution provider. White-labeled financing is important as very few retailers have the resources to offer their own consumer finance program.
Why should I offer a white-labeled financing solution?
A white-labeled financing solution is essential if you do not have the resources to provide your own financing. Consumer finance simply becomes an extension of your checkout process.
Main benefits to the retailer include:
- Maintaining brand visibility – Customers are dealing directly with your brand and message when they buy.
- Strengthening customer loyalty – The financing experience remains within your website and customers are not sent elsewhere at the crucial stage of the purchase.
- Lower cart abandonment – As the purchasing is streamlined and available on the retailer’s website, the customer has less reason or chance to leave the purchasing process.
How can I get a white-labeled financing solution?
If you are a retailer looking to offer financing to your customers, search for a third party solution provider who is able to offer a white-labeled financing solution that can be easily applied to your website and instore if required. A fully white-labeled solution will provide a transparent reporting system, ensuring that the user data belongs to you. Otherwise, there is the risk that you won’t own or may not even have access to any consumer data the solution generates.
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