Point of sale finance: E shopping websites and now Retail Markets

Point of sale finance means a personal loan you would avail for buying high budget items that you otherwise cannot afford. The difference between Point of sale finance and a regular bank loan is that-

• It is much faster

• It does not require various documents and paperwork. It does not require approval from the authorities.

Point of sale finance was initially tested out by the e commerce websites and shopping applications. Upgradation from Cash on Delivery to Point of sale finance, the change has been immense. The e commerce websites tested the waters initially with the customers. They analysed the success rate and the number of customers who are willing and open in choosing the Point of sale finance as mode of payment.

Seeing the success of shopping websites and e commerce, retailers have also started the Point of sale finance process for their payments. The gradual shift from paying cash and finding the change, to the Point of sale finance, there has been a revolution in the sales and retail customer market.

The retail markets were slowly vanishing as customers were relying heavily on the online shopping. Let’s us discuss why –

• Various mode of payment

• Variety of options

• No hassle of driving to the markets and store

As the retailers observed the problem and their competition, they were quick to introduce the most widely used payment option of Point of sale finance which is currently the talk of the town.

As the retail stores have also started home deliveries of certain items in certain industries. They have also established their businesses online too. The only varied difference was the Point of sale finance mode of payment which gives the customers flexibility to pay in easy instalments.

There are various payment gateways and mobile finance applications, which offer the facility for Point of sale finance. Some applications are specially designed to be used in a particular store.

Point of sale finance is a very good option for making large purchases and if you do not plan on returning the item.