Versatile Credit and Koalafi Unite to Broaden Lease-to-Own Financing Choices for Retailers

News provided by

May 18, 2023, 10:30 ET

MECHANICSBURG, Pa., May 18, 2023 /PRNewswire/ -- Versatile Credit Inc. (Versatile), the leading credit aggregation and customer acquisition tool for merchants and lenders, is excited to announce the integration of Koalafi, an omni-channel provider of inclusive financing plans, onto their platform. This partnership and integration aim to support retailers by providing a wider range of financing options to shoppers.

Koalafi offers clear and affordable lease-to-own financing to the significant population of U.S. consumers (40%+) who do not qualify for prime financing options like BNPL or store credit cards. Koalafi's credit platform enables merchants to offer payment flexibility to their credit-building customers, giving those customers the opportunity to improve their credit over time. Through this integration, retailers on Versatile's platform can offer a comprehensive range of financing options to maximize their approval volume, increase conversions, and create a better customer experience.

With Versatile Credit, merchants can offer applications through a variety of technologies and channels that align with their sales process. These channels range from traditional self-service kiosks and merchant-owned tablets to e-commerce integrations or consumer mobile devices. Versatile's cascade technology seamlessly guides consumers through various financing and lease-to-own product offers from prime, near prime, and no-credit-required providers, helping shoppers find the financing or lease-to-own option that suits their budget. Versatile's technology also empowers merchants to launch applications, process transactions, and evaluate the performance of their financing program, providing merchants with the tools they need to optimize their financing programs, drive sales, and increase conversions.

"Our integration with Koalafi demonstrates our continued commitment to help merchants offer a diverse range of financing options to their customers," said Vicki Turjan, President and COO of Versatile Credit. "By working with great partners like Koalafi, we are empowering merchants to better serve their customers and help them find options that fit their budget."

"We're thrilled to join forces with Versatile Credit to help merchants reach new customers and provide them with a convenient way to pay for important purchases," said Shawn Sieck, Koalafi's Chief Sales Officer. "Our collaboration will enable merchants to better meet the needs of their customers, ultimately resulting in more sales and greater customer satisfaction."

If you are looking to use financing as a strategic growth lever, reach out to the experts at Versatile Credit and Koalafi to see how we can help you drive success.

About Versatile Credit. Privately held, Versatile Credit offers a technology platform that enables retailers to build a financing program with leading lending providers, innovative financing solutions and engaging customer experiences -- leading to more finance applications, more approvals and more sales. For more information about Versatile Credit, visit versatilecredit.com.

About Koalafi
Koalafi (koalafi.com) offers payment plans that make it possible for non-prime consumers to make life-changing purchases. With Koalafi, in-store and e-commerce merchants nationwide can be confident they have a payment plan to offer every customer. Koalafi believes financing is more than just a payment tool and demonstrates this by providing customers opportunities to improve their credit. Top retailers recognize Koalafi for their commitment to both retailer and customer success, reflected in Koalafi's Net Promoter Score of 70.

SOURCE Koalafi