Jifiti Partners with Mastercard to Scale Point of Sale Consumer Financing Solutions
September 08 2020 - 10:03AM
Business Wire
Partnership provides increased choice at checkout for
consumers
As more people enter the digital economy, credit and consumer
financing is evolving – providing increased flexibility for more
people, catering to new shopping trends and behaviors, and
empowering retailers with new experiences. To meet shifting
consumer demands, Jifiti has today announced the expansion of its
partnership supporting both merchants and issuers with Mastercard,
to scale its point of sale installments offering to provide more
options for consumers at checkout.
"We're proud to be expanding our partnership with Mastercard, a
global payment and technology company that is so committed to
delivering value to merchants and consumers,” shared Yaacov Martin,
Co-Founder and CEO at Jifiti. "Together, we are bridging the gap
between merchants, consumers and lenders by offering a
minimal-integration platform. The key to success in the retail
space is the ability to quickly test, launch and roll out shopping
experiences that their customers will love. Together we will make
that more accessible to banks, merchants and consumers.”
Point-of-sale (POS) financing is growing 20% a year in the U.S.
with similar growth rates found in Europe, Asia and Australia.
Globally, it is predicted to grow to $2.52 trillion in 20221.
Jifiti’s technology is supporting that growth – consumers are
connected to a variety of lenders, giving them a choice of
financing options for their purchases, and allowing them to plan
and manage repayments over an extended period.
Retailers are able to capitalize on this consumer demand by
simply and securely offering financing programs, benefiting from
increased purchase completion and reduced shopping cart
abandonment. Jifiti’s platform is fully integrated using
Mastercard’s Application Programming Interface (API) technology,
enabling lenders and retailers to easily upload their loan products
which are then displayed to the customer at the point of sale
(POS). And through Jifiti’s zero-integration solution retailers can
implement programs with minimal IT resources or systems
integration.
“Mastercard is creating a future where payments keep pace with
the way we live, work and do business. We are constantly working to
provide responsible options for consumers in how they manage their
finances and spend, while providing more flexibility, control, and
transparency,” said Zahir Khoja, Executive Vice President, Merchant
Solutions and Partnerships, Mastercard. “Our work with Jifiti and
the wider consumer financing ecosystem continues to accelerate as
we deliver innovative solutions and credit options in the moment
consumers are seeking them.”
About Jifiti
Jifiti is a fintech company with offices in the US and Tel Aviv,
Israel. Its proprietary POS-financing platform is changing the way
lenders and merchants implement and offer consumer financing at the
point-of-sale. The end-to-end solution works seamlessly with any
existing POS or e-commerce system, eliminating the integration
process between lenders and the merchant’s systems. Jifiti operates
in North America and Europe, supporting global retail brands and
financial institutions.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry.
Our mission is to connect and power an inclusive, digital economy
that benefits everyone, everywhere by making transactions safe,
simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. With connections across more than
210 countries and territories, we are building a sustainable world
that unlocks priceless possibilities for all.
1 POINT-OF-SALE FINANCING: Poised as a Leading High-Growth
Offering from Banks and Fintechs. LendIt Fintech Conference LLC.
White Paper. 2020
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200908005024/en/
Shaul Weisband Co-Founder, CMO 213.435.6036 shaul@jifiti.com
MasterCard (NYSE:MA)
Historical Stock Chart
From Jun 2024 to Jul 2024
MasterCard (NYSE:MA)
Historical Stock Chart
From Jul 2023 to Jul 2024