Vyze is how modern financing works
Consumer demand for retail financing is estimated to be $1.1tn annually1
64% of U.S. consumers seek financing regardless of where they shop—in-store, online or mobile2
However, consumers are challenged with finding the right financing option and getting approved at checkout, leading to higher cart abandonment, lost revenue and decreased loyalty.
Mastercard Vyze’s optimized lending model connects supply and demand, leading to higher approvals, faster checkout and a consistent user experience.
The multi-lender, multi-product solution matches consumers across the credit spectrum with a lending product that fits their needs.
White Label Omnichannel Access
Maintain ownership of customer relationship and enable consumers to apply, receive approval and shop on all the channels they prefer.
Consumers provide their information 1X and are matched with the right lender seamlessly.
Back Office Processing
Streamlines the financing process from application to settlement.
How It Works
Mastercard Vyze uses multiple lenders to increase approval rates.
Mastercard Vyze protects a major retailer from market volatility through the flexibility to add or change financial institutions.
A big box retailer was working with a single lender that could only approve consumers with prime and near prime credit scores for their private label credit card. This retailer could not address a large segment of sub-prime consumers with its existing solution, leaving a significant amount of sales unrealized. Credit denials from the primary credit program led to negative buyer perceptions and were also a source of cart abandonment and decreased purchase volume.
To address the credit sales fallout issue, the organization sought out a solution from Vyze. As an end-to-end provider of multiple lenders on a single technology platform, Vyze can address the full spectrum of credit seekers while reducing integration and process flow-related costs. Without Vyze, business continuity would have required the organization to host multiple lenders and implement tedious processes to mitigate risk.
With Vyze, the retailer experienced3:
1. Scenarios for US Payment Industry Revenue, and Implications, McKinsey Digital Commerce Benchmark, May 2020
2. Mastercard-Beesy, September 2019
3. The Total Economic Impact™ Of Vyze’s Retail Credit Loyalty Platform, a commissioned study conducted by Forrester Consulting, March 2018