Online Credit Facilities Integration

[tobyharris]

We have been approached by a company offering a product called "Pay4Later" which is an online credit facility for customer buying larger items. Has anyone successfully integrated any similar type of payment system? If so, was it difficult and has it improved sales.

[guccij]

It has terrible reviews. Do you want to be associated with a high interest loan outfit?

[tobyharris]

We are thinking of offering our customers 6 months or 12 months interest free credit on larger items

[malbro]

We have been approached by a company offering a product called "Pay4Later" which is an online credit facility for customer buying larger items. Has anyone successfully integrated any similar type of payment system? If so, was it difficult and has it improved sales.

Integrating a payment provider is an expensive process as you need the SellerDeck Kit which last time I checked was around 4000.00.

Usually this is financed by the PSP rather than doing it yourself.

[fergusw]

Has anyone successfully integrated any similar type of payment system?

Yes - of a sort.
As mentioned above, fully integrating this as an integrated payment option would require significant investment in the Sellerdeck payment development kit, even before a line of code was written for the actual integration.
Instead we opted for a compromise, where the customer selects the finance option and is redirected to the Pay4Later application website, whilst the order is "completed" in sellerdeck in a similar fashion to "Invoice on order" or "Cash on delivery". This allows for the order to be completed AND the Pay4Later application to proceed with all the appropriate product information.

If so, was it difficult

Relatively speaking, yes. It requires significant additional javascript coding to be embedded within a current Sellerdeck website as well as some bespoke code for each particular instance depending on factors such as deposit amounts, finance packages, available suitable payment options in Sellerdeck etc.

and has it improved sales.

Difficult to quantify, however the clients using it are still using it as customers are selecting this as an option when using their website.

PM me for more details on this if you wish.

Regarding the poor reviews for Pay4Later, I can't really comment. You'd have to ask the Sellerdeck users who have experience of using this within their websites,

[tobyharris]

Thank you

Thank you for your responses. I have spoke to a company called IMegaMedia (as suggested by Pay4Later) and I understand that they are in discussions with Sellerdeck as to how implementation can be achieved.

I will post again if there are any further developments.

[MDN]

OK, so the reviews pointed out in my opinion are a handful of reviews given where it is impossible to say if they are confirmed real customer reviews. Teclan set up an option for 6 and 12 months 0% credit for the following site:

www.bedsbbq.co.uk and have seen sales from it, hard to say if the sales would of come in without the finance but it was worth adding the option on.

Dealing with Pay4Later has been fine and so far have had no issues either with them or from upset customers. The only thing that I would say is be careful with your margins and offering 0% is great for the customer but the 6 to 9% fee you get charged as the retailer is high, if I did it again I would only offer 0% over 6 months and an apr figure over longer as the higher the apr the lower your fee.