Versatile Credit Sees Continued Growth in Retail Promotional Financing during January

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Versatile Credit, a leading credit aggregation and customer acquisition tool for merchants and lenders, reported that recent news of a jump in January retail sales figures but also extended to use of promotional financing.

Versatile Credit’s data analysis is supported by sales and financing activity taking place across its network of over 1,400 merchants throughout the United States.

David Miller, Versatile’s lead business analyst, noted that in-store furniture financing programs experienced a rise in unique applicants by 10% and approved financing totals by over 26% compared to January of the previous year. In-store application volume increased by 8% from December 2023 and the total approved financing in January rose by 9.6% vs. December.

Prime and no credit needed providers showed the most growth. Prime-approved applications increased by (+8%) as well as average approved financing by (+18%). No credit needed was up by (+37%) in approved applications, with average approved financing growing by (+6%). While secondary, near-prime lenders saw growth in overall applicants (+14%) but a slight decrease in approvals.

“We are projecting to see a significant increase in the number of applications processed through our platform, with a target of 5 million total applications in 2023,“  says Ed O’Donnell, CEO of Versatile Credit. “It’s clear that our technology and focus on delivering a seamless and efficient financing experience is resonating with merchants and their customers.”

“Consumers are becoming more conscious and savvy about their spending habits, seeking out promotional financing and low-interest offers to help them budget in an uncertain economy,” O’Donnell adds. “Our technology and features like prequalification help connect shoppers with financing that works for them, without the hard credit checks for products they may not be eligible for. It’s exciting to see the positive impact our platform is having in the marketplace, and we look forward to facilitating an expected $10 billion in financing volume this year.”

Data from e-commerce transactions indicated there was a decline in total “prime credit” applicants, but that second look and tertiary credit providers showed significant growth across segments. Prime lenders had fewer applicants but were approving a higher percentage of them indicating the appetite for quality assets remains high.

“Our technology is empowering merchants to provide the right financing options to their customers at the right time, regardless of credit score, and making financing more accessible,” says David Miller.  “Making the data available to our merchant partners in real time allows them to quickly understand if the products they are making available to consumers are meeting demand, or if they are seeing application fallout which may indicate a product gap.  The feedback we have received from our merchant partners has been phenomenal.”



About Versatile Credit 

Privately held, Versatile Credit offers a technology platform that enables retailers to build a financing program with leading lending providers, innovative financing solutions and engaging customer experiences — leading to more finance applications, more approvals and more sales. For more information, visit


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