Bread Financial Holdings Inc, a tech-forward financial services company that provides flexible payment, lending and saving solutions, said on Monday that it had formed a partnership with Versatile Credit Inc, a provider of innovative solutions linking bank lenders with consumers who apply for credit in retail stores.
Under the tie-up, by using Versatile Credit’s platform, participating Versatile Credit merchants and their clients will be able to take advantage of Bread Financial’s buy now, pay later (BNPL) products.
Those clients can now access BNPL financing at the point of sale, online and in-store, which will offer them more financial choice and flexibility at checkout.
Clients can pre-qualify for Bread Pay in just a few seconds, immediately apply the financing to their purchase and pay for the latter in equal installments over time.
“Our partnership with Versatile allows us to increase distribution of our BNPL products in-store, while expanding opportunities in priority markets like elective medical and home improvement,” Val Greer, Executive Vice President and Chief Commercial Officer of Bread Financial, said in a press release.
“Together we’re providing consumers greater options with the access to modern, innovative financing at checkout that they demand,” Greer added.
“Versatile Credit’s approach to lending enables our merchant partners to keep customers across the credit spectrum engaged through a seamless application and approval process,” Vicki Turjan, President and COO of Versatile Credit, said.
“The addition of Bread Pay allows us to further expand our product offering and provide financing solutions that meet a variety of customer needs and expectations.”