Verity Brain   31st Aug 2017

Deko goes live with its first credit card merchant

Today is an exciting day for us as we go live with our first merchant using our new point of sale credit card product! We’ve been working and talking to many high street retailers to introduce the proposition to the market and can’t wait to showcase the results of the launch in the coming months…so stay tuned.

Credit cards allow merchants to extend credit to consumers making higher frequency purchases using our excellence in point of sale technology. Credit card origination at the point of sale is a new innovative proposition in the market. Up to now, only the top few retailers in the UK have been able to afford a branded credit card and largely only in store with a cumbersome paper based process.

Now, we've built a solution that integrates, scales quickly and is cost effective to offer through any existing sales channel. Our smart conversion optimised application form enables the flow of information between the retailer and our tech engine that assesses the applicant based on the lender criteria, affordability, credit history and other variables to offer the applicant an ‘accept’ or ‘decline’ in seconds. One key benefit of the credit card technology is that it provides a soft credit check; meaning no footprint is made on a customer's credit file when they initially check their eligibility to apply for a card.

Retailers choose an attractive offer such as 3 months interest free on purchases as well as on-going promotional offers which can be delivered via the customer statement to drive loyalty and boost repeat spend. The card is a Visa card, which means the customer can use it anywhere. Retailers can also get powerful insights on spending behaviour, even with competitors, harnessing this data to tailor up-sell offers or target promotions to certain demographics. The credit card and application form can be a fully branded; meaning the user journey for customers is seamless and consistent. 

The power for retailers having their brand at the front of a customer’s wallet means they’re always at the forefront of their mind, and research has shown that branded credit cardholders spend 10x more than non-branded cardholders. A study by Mintel also shows that 33% of customers said the driver for taking retail credit was, ‘because it was offered,’ which shows the demand from customers is there. Retailers have a real opportunity to differentiate themselves from their competitors with the new credit card proposition.

We think that’s powerful stuff.

Which store would you like a branded credit card from?


If you’re a retailer and would like more information about our point of sale credit card product, contact us today.

Further reading: ‘The credit revolution’ whitepaper. Learn how credit delivers 70% of revenue for Next Directory.  

For press enquiries contact Vicki Scheele on marketing@dekopay.com