Daily News

From Home Furnishing Business

Versatile Credit Offers Preferred Terms for NAHFA Members

August 10, 2015  by in Furniture Retailing, Industry   

Versatile’s existing partnership with the association’s preferred primary lender Synchrony Financial provides easy integration for members.  
“Versatile Credit provides our members a solution to help their customers gain access to the credit they deserve,” said Sharron Bradley, CEO of NAHFA. “And the NAHFA provides Versatile Credit greater access to many of North America’s leading home furnishings retailers.” 
Kevin Lawrence, vice president of marketing and sales for Versatile Credit, said the the self-service capability of the company’s credit solution makes it ideal for NAHFA members. 
“Our kiosk-based solution is so simple to use customers require no assistance from store personnel,” he said. “Sales associates are free to spend more time on the floor selling merchandise. Also, we’ve found when the merchant is not involved in the process customers are more willing to apply for credit and consider sub-prime lending options."
The Versatile’s Credit Cascade, sends applications denied by a primary lender to secondary lending sources, helping retailers reduce credit denials by up to 40 percent. Retailers using the Versatile Credit solution typically see a 20 percent increase in credit applications.