El Dorado Furniture Partners With Versatile Credit for Contactless Financing Opportunities
Furniture World News Desk on
3/30/2021
Versatile Credit Inc. (Versatile) and El Dorado Furniture announced they had deployed Versatile’s contactless, transition-to-mobile “Snap to Apply” technology to their stores. The technology enables El Dorado to provide their shoppers with additional options for interfacing with the financing process from the safety of their own mobile device. El Dorado integrated the new technology with their existing finance kiosks, giving shoppers the opportunity to choose the application method that works best for them.
Versatile’s patent-pending Snap to Apply technology was built from the ground up to enable shoppers to seamlessly apply for financing on their own personal mobile device while guaranteeing the applications are taking place in-store. Shoppers can initiate the finance application by pointing their smartphone camera at the Snap to Apply code, which will instantly transition them to the application. Once shoppers transition to their mobile device they simply enter their personal information into the credit application to receive a financing decision. With Versatile’s cascade technology applicants seamlessly transition to secondary and tertiary providers in the case that their application is denied, providing additional financing opportunities to shoppers across the FICO spectrum.
“We are excited to offer our clients with new, innovative opportunities for interacting with our financing program”, said Leodenni Pena, Private Label Finance & Marketing Leader at El Dorado Furniture, “we look forward to offering an array of options in how our clients approach the financing process while maintaining the comfort and security they have come to expect.”
“Versatile’s technology platform enabled El Dorado to quickly and easily add new functionality to their finance kiosk without the need for additional development, integration or hardware”, said Joe Sharp, chief technology officer of Versatile Credit, “this provided El Dorado the opportunity to evaluate our Snap to Apply technology while discovering and validating the deployment methods that work best for their business.”
Snap to Apply is the newest addition to Versatile Credit’s platform of in-store and online engagement points, including kiosks, tablets, e-commerce plugins and remote sales tools. Retailers can leverage Versatile’s comprehensive dashboard and analytics tools to gain actionable insights and benchmark the performance of their financing program down to the sales associate level.
Versatile’s omnichannel platform is currently in use in thousands of storefronts across North America. Since 2007, Versatile has facilitated more than $30 billion in approved retail credit including more than $6 billion in 2020.
About Versatile Credit: Privately held, Versatile Credit offers a technology platform that enables retailers to build a financing program with leading lending providers, innovative financing solutions and engaging customer experiences -- leading to more finance applications, more approvals and more sales. For more information about Versatile Credit, visit versatilecredit.com.