Visa has made a strategic investment in the point-of-sale (POS) financing technology platform ChargeAfter to support its partnership to bring more financing options to checkout, the companies announced on Wednesday (Feb. 12).
“By combining ChargeAfter’s financing platform with Visa’s global reach, we have created one of the largest networks of global point-of-sale financing,” said Meidad Sharon, founder and CEO of ChargeAfter.
“Visa and ChargeAfter share a common vision to make payments quick, convenient, safe and accessible,” Sharon added. “ChargeAfter’s vision is to help every consumer, worldwide, gain access to financing options that best fit their unique needs, and that are available to the consumer when and where they are ready to purchase – online, in-store and over the phone. As part of the continued effort to democratize credit, we’re placing the power of payment options and flexibility in payments back into the hands of the consumer. We are creating the next wave of credit.”
The partnership will enable Visa’s network of sellers, acquirers and issuing banks to use the ChargeAfter platform to offer a range of financing solutions. Members of Visa’s network will also be able to join ChargeAfter as direct lenders, giving people more options at the POS.
“Consumers increasingly demand more choice and flexibility when making a payment, whether for their everyday needs or high-value items,” noted Shahar Friedman, head of the Visa Innovation Studio in Tel-Aviv. “Working with ChargeAfter, we aim to make it easier for sellers and financial institutions to offer a range of tailored, personalized financing options at the point of sale, allowing consumers to manage their payments in a way that works for them.”
ChargeAfter was founded in 2017 and is headquartered in New York, with offices in San Francisco and Tel Aviv. In September, it was reported that ChargeAfter is among three Israeli startups participating in Tel Aviv’s new Visa Innovation Center.