Close More Sales with Financing

July 3rd, 2024 by the STORIS Marketing Team

Financing Launches in STORIS NextGen Mobile POS with Synchrony

Mt. Arlington, NJ – “58% of all consumers who bought durable goods within the past year used financing or leasing programs for at least one purchase,” a recent PYMNTS report found. Rising credit utilization is seen among millennials and Generation Z shoppers. To drive this essential source of revenue, STORIS is excited to launch financing in its STORIS NextGen Mobile POS.

STORIS conducted first-party research in its retailers’ showrooms. They found sales associates are instrumental in informing customers about their financing options. Accessing this information on mobile devices enables associates to advise on finance plans based on that customer’s specific product selections.

“Customers have chosen whether to finance their purchase before, not during checkout, as credit determines the consumer’s total buying power. As such, this was integral to how we designed financing within our STORIS NextGen Mobile POS UI/UX workflow.” Mark Braun, STORIS NextGen Product Manager

While shopping, the sales associate will guide the customer in selecting their desired plan based on the term length and interest rate that meets their ends. STORIS NextGen will automatically present them with eligible plan options based on order minimums, products on order, or discount compatibility. At checkout, the sales associates can authorize the chosen finance plans as payment.

Another complementary feature will be launching soon. STORIS NextGen’s Signature Capture will record digital signatures on mobile devices. In this application, once financing is authorized, the customer will be presented with the lender’s required Terms and Conditions to sign in a seamless experience.

Synchrony’s 2023 Major Purchase Study confirms RSA’s pivotal roles with 55% of respondents having researched financing through their retail sales associate. STORIS teamed up with primary finance lender, Synchrony, for this rollout. Retailers leveraging its widely used Synchrony HOME™ credit card program can use these plans as payment in STORIS NextGen. Additionally, STORIS now uses the Synchrony Home Network’s API web services across their STORIS ERP, STORIS APIs, and eSTORIS eCommerce platform.

Finance mobile sales with STORIS NextGen to increase home furnishings close rates and satisfy the needs of more customers. Request a Product Tour today or call 888-478-6747 to speak with the STORIS team.

Pymnts. (2022, April 13). 58% of durable goods buyers use financing or leasing programs. PYMNTS.com. https://www.pymnts.com/news/retail/2022/58-pct-durable-goods-buyers-use-financing-or-leasing-programs/

Synchrony’s 2023 Major Purchase Study: Research & Trends. (n.d.). https://www.synchrony.com/contenthub/insights/major-purchase-journey-2023