US Bank has announced the launch of Avvance, an embedded, multi-channel point-of-sale (PoS) lending solution.
Avvance is designed for businesses to be able to offer consumer financing during the checkout process with a quick application and instant decisioning.
Due to the wave of alternative payment methods that are constantly evolving, as well as consumer expectations, Avvance aims to offer a “transparent, convenient way to pay over time with loan options”, available during the checkout experience.
Mia Huntington, Executive Vice-President of Buy Now, Pay Later and Point-of-Sale Lending at US Bank and Elavon, stated: “Our point-of-sale lending product allows business owners the ability to offer affordable financing while they receive full payment at the time of sale.
“US Bank, the primary source of the consumer loans, manages all aspects from application to servicing, so business owners can focus on what they do best, running their business.”
Backed by US Bank, its latest offering enables personalised flexibility while maintaining healthy spending habits. For business owners, Avvance is embedded in the checkout process, enabling them to offer more convenience for their customers from a trusted provider without the friction of managing payments after the sale.
Huntington added: “Consumers like the certainty of knowing their payment amount and terms at the time of sale, with easy and instant access to credit.
“With Avvance, business owners have the ability to attract new customers while increasing their buying power, resulting in increased sales.”