The MyTab solution represents an alternative to traditional credit cards and installment loan offerings like BNPL services. MyTab operates independently from other credit card networks and can be easily integrated with ecommerce platforms’ shopping carts through a plug-and-play API. Merchants who use the service will provide their clients with an intuitive, cardless online credit option for consumers, with advantageous terms and conditions.
Why is it different?
The new digital credit solution allows consumers to apply once and, if approved, reuse their line of credit for an undetermined period of time. MyTab’s take on digital loans means that customers can have access to a credit line, without worrying about applying for a new credit every time they end paying a recurring one. Ultimately, the company aims to improve customer lifetime value and provide an alternative to regional credit card loan firms that have less flexibility in their terms and conditions.
Benefits by loyalty
By offering a reusable credit line, MyTab claims it will increase brand loyalty and deliver recurring revenue to trustworthy merchants and their clients by enabling repeat and subscription-based purchases. By comparison, BNPL loans only focus on the relationship with the client throughout the instalment payments and, once the credit is fully paid, both the contract and the relationship terminate.
At the same time, the online credit platform provides merchants with competitive rates and fast payments, while allowing customers increased flexibility of structuring their payment plans. The solution can be easily integrated with a wide array of online ecommerce platforms, including Shopify and Shift4Shop.
The launching of the new programme comes with a special offer for interested clients who can benefit from an introductory 50% discount on merchant fees for six months by choosing the Charter Merchant Programme. The discount will be offered once MyTab is launched and is intended for selected ecommerce merchants that sign up for MyTab.
About FuturePay
Headquartered in the US, FuturePay offers a variety of online digital products, including a mobile wallet and MyTab, its proprietary innovative digital revolving credit card platform. It combines instant decisions, embedded payment solutions, and the flexibility and convenience of BNPL instalment payments to create a unique product that caters to the financing needs of merchants and their customers.
The financing option is secure, cost-effective, and easy to implement, with recurring revenues that generates brand loyalty and establishes an enhanced relationship between the creditor and the customer.
FuturePay’s digital credit platform available for ecommerce merchants & Latest News Update
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