Mash and Verfone partner for delayed payment
Finnish fintech company Mash and Verifone are to provide a pay-later solution for use in physical stores across Europe.
The service will provide consumers with an easy option to pay later, while still processing merchant payments instantly.
“We think of ourselves as the third option at point of sale,” statesJames Hickson, Group CEO of Mash. “Today’s in-store financing solutions are not seen as a source of competitive advantage by business owners. They are hard to use and create a large degree of friction at point of sale.”
The solution thus works at the same speed as a credit card, providing consumers with an easy way to delay payment. After on-boarding and seeking credit approval via a Verifone device, the consumer is able to pay the balance in full within 14 days or choose to convert to a monthly instalment plan.
Mash is currently one of only two companies in Europe that offer both an in-store and online payment solution, with this latest development part of a rapid scaling up across Europe.