Fiserv has announced that retailers can now enable customers to pay for their purchases with interest free instalment payments.
Retailers using digital commerce technology from Fiserv can now enable customers to ‘Buy Now, Pay Later’ with interest-free instalment payments via QuadPay. Therefore, Fanatics, the global company for licensed sports merchandise, will enable customers to pay in instalments through digital commerce technology from Fiserv in relationship with QuadPay.
Fanatics is taking steps to provide our customers with an omnichannel shopping experience that is consistent and seamless, whether sports fans are shopping online, on their phone, in stadiums, or at sporting events,” said Chris Orton, Fanatics global co-president of direct-to-consumer retail. “By adding QuadPay to the payment options we enable through Fiserv, we are providing our customers with an added level of purchasing flexibility at a time when many consumers need it most.”
Fanatics customers can use instalment payments when shopping across the company’s owned roster of online stores, including Fanatics.com, FansEdge.com, SportsMemorabilia.com and international properties, or via the Fanatics mobile application by choosing QuadPay as a payment option during checkout. Additionally, Fanatics customers paying with QuadPay will be able to split payment into four interest-free installments spread over a six-week period, giving them the flexibility to budget purchases.
“Within days of launching QuadPay, many merchants see a lift in conversion rates of up to 20% and average order values of up to 60%,” said Brad Lindenberg, co-CEO of QuadPay. “We are working with Fiserv to enable a solution that brings value to both merchants and consumers.”
Overall, to meet the growing demand for BNPL options, Fiserv is making instalment payments available through the commerce-enabling solutions it provides to merchants.
“Fiserv is building differentiated payment experiences that are designed to help our clients create more commerce,” said Mark Hennin, senior vice president of Global Business Solutions Lending at Fiserv. “The addition of an installment payment option allows businesses like Fanatics to provide their customers with the flexible purchasing capabilities consumers want.”
