8th Sep 2016

Pay4Later and Honeycomb process first consumer credit applications

Pay4Later (now Deko), the leading point of sale finance technology platform, and Honeycomb Finance, the specialist consumer lender, today announced point of sale loans are now being originated through partnership.

Honeycomb have joined Pay4Later's panel of lenders to extend available financing options, increase acceptance rates and secure even more sales for merchants. Pay4Later's finance technology gives Honeycomb the ability to originate finance at the point of sale to an increasing number of consumers.

The first applications came in just minutes after the solution went live last week. The very first consumer applied and was accepted for a 10-year loan for a high-value kitchen purchase. As consumers increasingly look to finance high-value items, point of sale finance is becoming increasingly important to a broad range of businesses.

Scott Law, CEO said "We're excited to add Honeycomb to our panel of lenders. They bring sophisticated credit assessment and an entrepreneurial, flexible mind-set that will allow us to provide great financing solutions to an increasing number of merchants. We're excited about the opportunities ahead looking forward to building a great long-term partnership".

Paul Noble, CEO of Honeycomb said "We are focused at Honeycomb on removing complexity for our partners and customers, making it easy to transact. That's why we choose to partner with Pay4Later. Their technology makes it easy for both the retailer and customer to access point of sale finance. We are looking to grow the relationship over the coming months and are really excited about this partnership".

Pay4Later are revolutionising the point of sale finance market by transforming lending into a payment method. Our unique AcceptPlus technology powers multi-lender risk-based pricing, enabling us to approve customers across the full credit spectrum. Combined with our obsessive focus on increasing conversion rate and reducing time to serve, it means that we are helping more people than ever finance the important things in life.