FuturePay
About FuturePay
FuturePay is a digital platform which lets your customers apply for and if approved use FuturePay MyTab ™️, a revolving line of credit, to buy now and pay later, without a credit card. By putting purchases on FuturePay’s MyTab ™️, your customer can complete their purchase, without hunting for their wallet. And since it’s a revolving line of credit, your customers can keep coming back to make subsequent purchases using their available credit. No need for consumers to reapply once a FuturePay MyTab ™️ application has been approved!
Hawke Media & FuturePay
There is significant interest among e-commerce merchants about alternative payment methods (APM). One of the most important APMs are Buy-Now-Pay-Later (BNPL) programs such as Affirm, Klarna, etc.
FuturePay’s MyTab is a BNPL program but with a significant twist. Unlike the traditional BNPL programs that offer installment financing to facilitate a single purchase, MyTab offers a revolving line of credit. This allows consumers to apply once and return again and again to make more purchases which, in turn, helps your clients to:
• reduce shopping cart abandonment
• increase average order value
• drive repeat business and increase customer LTV
We currently have pre-built integrations with Shopify, Magento and other popular e-commerce platforms.
Adding MyTab to a merchant’s shopping cart is as simple as entering an API key. And for your consumer customers, applying for a MyTab account is easy and approval takes just seconds.
The next thing to watch is how fintechs will move. Lending competition is good and welcomed in most markets. The winning model will follow lifecycle lending. Don’t settle for financing one transaction; bring in the consumer and watch how they pay and transact.