LONDON - Finnish fintech company Mash today announced a new collaboration with Verifone to provide a pay-later solution for use in physical stores across Europe. The revolutionary service will provide consumers with an easy option to pay later, while still processing merchant payments instantly.
"We think of ourselves as the third option at point of sale," James Hickson, Group CEO of Mash, told World Finance. "Today's in-store financing solutions are not seen as a source of competitive advantage by business owners. They are hard to use and create a large degree of friction at point of sale. We've listened to merchants and consumers and built a solution that works at the same speed as a credit card."
The innovative new purchasing method provides consumers with an easy way to delay payment. Customers need only select the Mash option from a Verifone device for instant on-boarding and credit approval. Within 14 days, the consumer has the ability to pay the balance in full or can choose to convert to a monthly instalments plan. Essentially, Mash handles the consumer's financial obligations so that businesses can benefit from being paid instantly and focus on serving their customers instead.
Mash is one of only two companies in Europe that offer both an in-store and online payment solution, and is considered to be at the forefront of the payments revolution in Europe. The company is now scaling rapidly across the continent to reach hundreds of thousands of merchants via strategic partnerships and direct investment. "We're naturally thrilled to be considered one of Europe's most innovative payment solutions but we're focused on doing what we do best: providing exceptional customer experiences and building mutually accretive strategic partnerships," Hickson said.
With its varied and lengthy technological experience, Mash may well be Euroloan's most transformative technology to date. To find out more, check out an exclusive article written by Mash CEO James Hickson, available in print and online at World Finance now.
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