Industry: Home Improvement Revenue: $88B+ Website: Products: Vyze Point-of-Sale

The Challenge

The Home Depot learned that about one-third of its customers didn’t qualify for its store-branded credit card. As a result, sometimes shoppers didn’t complete their purchases. These lost opportunities didn’t just cost sales; they also created an undesirable checkout experience. The Home Depot set out to fix this.

With a strong customer service culture built solidly on the principles of simplification and putting the customer first, Home Depot wanted to make certain the program did not complicate the checkout process or interfere with the customer–associate relationship.

Their Checklist

  • More affordable, consumer-friendly credit options
  • A fast, simple application process
  • No delays at the checkout register
  • Handle a large volume of credit application transactions
  • Bullet proof system with the highest levels of security

The Solution

First, Vyze set out to understand The Home Depot’s customer base. Vyze then introduced THD to multiple lending partners. Home Depot selected 3 revolving credit lenders from the Vyze Lender Network to be a part of the solution. Vyze provided the API documentation to integrate to The Home Depot’s Point-of-sale system and guided the team along the way.

How it works

  1. When a customer applies for the Home Depot credit card at point of sale and is declined, they are automatically prescreened for credit offers from lenders with different credit requirements—no additional application is ever needed
  2. When a customer receives a credit offer, they use the credit card signature pad at the register to read through the disclosures and accept the offer, which is a process that takes less than a minute.
  3. The customer is then able to instantly complete the purchase. Later, the physical card is sent to their home.

The Result

Customers Getting A Credit Offer:
Incremental Revenue:
Repeat sales as % of total sales:
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We knew we made the right choice when one of our lenders exited the retail market.

Scott Anderson – General Manager

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