The pay-later economy is reshaping consumer spending and merchant sales strategies. With the ability to make purchases in fixed monthly installments, consumers are finding it easier to manage their cash flow, especially in uncertain economic times. Merchants, on the other hand, are leveraging this trend to drive sales by offering diverse financing options through partnerships with lenders. Versatile Credit, led by CEO Ed O’Donnell, has observed a significant increase in merchants signing up for their platform, which provides a range of credit options to consumers who may not have had access before. This shift has also seen a change in the types of merchants involved, with small and mid-sized businesses now participating alongside larger retailers. The integration of advanced data and AI technologies has improved the lending process, enabling quicker approvals and more tailored offerings. Ultimately, the pay-later model is fostering consumer confidence and expanding the market for merchants, even in challenging economic conditions.
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