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February 13, 2020updated 01 Apr 2022 5:11am

Visa backs POS financing technology platform ChargeAfter

Payments firm Visa has made an undisclosed investment in POS financing technology platform ChargeAfter.

The two have also struck a strategic partnership, offering additional credit options to customers at checkout.

Under the partnership, Visa’s seller, acquirer and issuing bank network will leverage ChargeAfter to offer POS financing instruments to in-store as well as online sellers.

Moreover, the alliance will allow Visa’s issuing banks to join ChargeAfter in the role of direct lenders.

Visa Innovation Studio Tel-Aviv head Shahar Friedman said: “Working with ChargeAfter, we aim to make it easier for sellers and financial institutions to offer a range of tailored, personalised financing options at the point of sale, allowing consumers to manage their payments in a way that works for them.”

ChargeAfter links merchants and lenders to offer personalised POS financing options to customers at checkout.

The firm’s platform is said to boost sales by up to 45%.

The latest deal comes shortly after Visa’s investment in B2B payments firm Currencycloud as part of its Series E funding round.

As part of the deal, Visa SVP and treasurer Colleen Ostrowski joined the Currencycloud board.

Visa recently also snapped up Plaid, a fintech firm that connects bank accounts with fintech apps, for $5.3bn.

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