Fortiva Retail Credit Expands Partnership With BNPL Financing Network ChargeAfter

Fortiva Retail Credit, a second-look point of sale (POS) consumer credit program issued by The Bank of Missouri, is expanding its partnership with buy now, pay later (BNPL) financing network ChargeAfter to provide customers with Fortiva financing.

Fortiva’s Retail Credit program uses tech to let The Bank of Missouri offer a “seamless transition” from prime financing to a second-look program with affordable payment options, according to a press release Thursday (June 23).

If shoppers are declined for financing from a prime credit provider, they can be instantly processed for the Fortiva program.

Using Atlanticus Services Corporation’s tech capabilities, merchants can get more inclusive financing options, allowing merchants to say “yes” to those with imperfect credit more often, per the release.

ChargeAfter is a BNPL network connecting retailers and lenders to offer consumers personalized POS financing.

“As ChargeAfter continues to disrupt the BNPL space, Fortiva® Retail Credit’s premier services and offerings will continue to help set us apart from the competition,” said Mark Denman, executive vice president of merchant sales and success at ChargeAfter. “We look forward to our continued rapid expansion with the Fortiva program and appreciate the longstanding partnership we have with them.”

ChargeAfter also recently completed a Series B round, raising $44 million to scale its operations and onboard additional merchants, PYMNTS wrote.

See also: BNPL Startup ChargeAfter Raises $44M Series B for Expansion

The fresh funding brings ChargeAfter’s total fundraise to $60 million since being founded in 2017.

“While BNPL has exploded in popularity in recent years, the marketplace often gives consumers limited options and up to a 70% decline rate,” ChargeAfter founder and CEO Meidad Sharon said at the time.

Sharon added that the interest in the company shows how there’s a growing need for network-driven financing for merchants and banks. Sharon said the industry was transforming — going from a single lender, low-approval reality to one based on multi-lender experiences.