FuturePay integrates its MyTab digital revolving credit platform with Bold Commerce’s headless payment
Leading eCommerce Technology Providers Partner to Deliver Industry-Leading Alternative Financing Solution to Merchants and Consumers
SOUTH JORDAN, UT /ACCESSWIRE/October 13, 2022/ FuturePay Holdings Inc. (FuturePay®) a provider of digital revolving credit solutions, today announced that it has completed an integration into the bold trade headless checkout experience. Through this integration, Bold Commerce will offer FuturePay’s MyTab™ platform to its growing list of retailers and leading DTC brands looking to provide flexible, secure and seamless financing options at checkout to their shoppers.
MyTab offers shoppers a reusable line of credit that’s ideal for repeat and subscription purchases of products such as cosmetics, household items, pet supplies, back-to-school items, and sports equipment. MyTab’s flexible payment options allow buyers to create a repayment schedule that fits their budget, compared to the more rigid fixed installment payment plans associated with traditional Buy Now Pay Later (BNPL) options.
Additionally, where BNPL loans end the merchant-customer relationship once the last installment payment is made, MyTab allows consumers to reuse their credit over the long term as long as their accounts remain in good standing. This encourages repeat purchases and allows e-merchants to develop ongoing engagements with their customers, build brand loyalty, and increase the average lifetime value (LTV) of those relationships. Bold Commerce customers can now take advantage of MyTab’s longer-term digital revolving credit offering as a pre-built integration into their payment solution.
“We are thrilled to join Bold Commerce and combine our collective cutting-edge e-commerce technologies to meet the changing needs of merchants and their customers,” said Tim Harris, Managing Director of FuturePay. “Together, we can drive innovation in the digital payment process by offering a flexible, easy-to-use financing option that is an attractive alternative to traditional credit cards and BNPL offers. We expect our customer base to grow rapidly. merchants through this relationship, providing a premium fast, efficient and secure funding experience.”
Bold Commerce delivers customizable, high-converting checkout experiences to power commerce anywhere. More than 90,000 brands and retailers, including Vera Bradley, Harry Rosen, Staples Canada, Pepsi and Mars, rely on Bold Commerce to personalize their checkout experiences with preferred payment methods, price and promotion management, shopping capabilities, and more. subscription, buy online/pick up in store (BOPIS), custom plug-in capabilities, and more.
“With nearly 20% of shoppers abandoning purchases at checkout due to inadequate payment methods, it has become a priority for retailers to offer expanded payment options and alternatives,” said Yvan Boisjoli, CEO from Bold Commerce. “Bold Commerce and FuturePay share the same ideas in our philosophies to provide e-commerce brands with compelling and transparent financing and payment solutions that will support their growth. With FuturePay’s MyTab as a revolving digital credit option, brands can now offer a new payment alternative to increase their conversion at checkout.”
Based in southern Jordan, Utah, FuturePay Holdings, Inc.. is the provider of MyTab™, an innovative digital revolving credit platform that offers a secure, cost-effective and easy-to-implement cardless financing option for online merchants and their customers. Unlike traditional Buy Now Pay Later platforms that provide installment loans for a single purchase, FuturePay customers apply once for a revolving line of credit that they can use and reuse over the long term for purchases on n’ any website that accepts MyTab as a funding method.
About Bold Commerce
bold trade Powers commerce everywhere for brands by delivering high-converting, customizable checkout experiences. The company works with leading omnichannel retailers like Vera Bradley, Harry Rosen, and Staples Canada, and emerging DTC brands, like Pepsi’s Mountain Dew and Game Fuel, to reinvent commerce. Its proprietary suite of modular payment, subscription and price rule solutions is compatible with multiple e-commerce platforms and headless architectures.
Revolving credit is provided by Cross River Bank, a licensed commercial bank in the State of New Jersey, Member FDIC, Equal Housing Lender.
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THE SOURCE: FuturePay Holdings Inc.
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