TORONTO and MONTREAL, June 12, 2013 /CNW Telbec/ - Beginning in June, thousands of merchants across North America will be able to process loans directly at the point of sale, giving customers greater flexibility and control over their preferred method of payment. This new comprehensive payment and financing solution has been made possible through a partnership with Pivotal Payments, a longstanding leader in credit card payment processing solutions, and FinanceIt, a Canadian point of sale financing platform from CommunityLend Inc.
From automotive dealerships to furniture retailers, this new offering covers a wide spectrum of consumer transaction needs. "Our team strives to stay ahead of the curve, so our merchants have the latest tools and services to meet their clients' evolving demands," said Philip Fayer, president and chief executive officer of Pivotal Payments. "This new system will provide consumers with greater flexibility and ease at the check-out counter, while helping businesses close sales faster."
To date, FinanceIt has received over $320 million in loan applications from more than 2,240 merchant partners. The point of sale finance solution will integrate seamlessly with Pivotal Payments' merchant services, offering business owners a way to boost their sales and increase their cash flow.
"Consumer financing has long been an industry controlled by major financial institutions, but the industry is shifting and our partnership with Pivotal Payments is a step forward in the right direction," says FinanceIt COO, Casper Wong. "We've had great success in the market due to our uncompromising focus on delivering the best experience possible to our vendor partners and their customers."
FinanceIt is a sales financing tool for Canadian retail, vehicle, home renovation and healthcare companies that provides instant financing application approvals, a convenient online interface for submitting and tracking financing applications, and simple loan terms with lower interest rates than credit cards. For more information on FinanceIt, please visit www.financeit.ca.
About Pivotal Payments
Innovative, reliable and affordable, Pivotal Payments is a leading provider and processor of merchant services throughout North America. Pivotal Payments provides to both online and point of sale merchants a variety of services such as debit and credit card processing, electronic check conversion, merchant cash advance programs, loyalty/gift card programs and terminal management solutions. The company provides these services to small and mid-sized retail businesses, mail order/telephone order merchants, e-commerce, chain stores, franchises, restaurants and dealerships. Processing over US $10 billion in annual transactions, Pivotal Payments serves more than 60,000 customers. To learn more, visit http://www.pivotalpayments.com
For further information:
1 877 441-4729 x8001
1 866 337-3362 x24