MECHANICSBURG, Pa. – Wells Fargo Retail Services will begin deployment of Versatile Credit’s Snap Sign contactless self-service technology to participating Wells Fargo retail partners.
Snap Sign’s patent-pending technology blends traditional and digital signage to facilitate a secure, instant, transition-to-mobile experience for shoppers anywhere in-store. Snap Sign enables retailers to provide consumers with access to credit during their in-store shopping experience from the comfort and security of their own device.
“Wells Fargo recognizes the unique challenges facing consumers as they return to brick-and-mortar storefronts, including enhanced health and safety concerns about in-store payment devices such as kiosks, terminals and point-of-sales systems,” said Steve Jermier, senior vice president of relationship management for Wells Fargo Retail Services. He added that Wells looks to “help our retailers offer their customers a variety of payment options, including the convenience, safety and comfort of contactless mobile applications.”
To use Snap Sign solution, shoppers simply point their smartphone camera at the Snap Sign signage to be instantly taken to a credit platform on their mobile device. A retailer’s customer can then input their personal information on the platform and quickly transition that information to the credit application.
Versatile’s platform securely and seamlessly transitions the applicant to secondary and tertiary providers if the applicant is initially denied, which ensures retailers can offer financing opportunities to customers across the FICO spectrum. Retailers can place Snap Sign signage throughout the store and empower their customers to approach the financing program on their terms.
“We thought it was critically important to find ways for retailers to offer their shoppers options in this current environment of uncertainty,” said Vicki Turjan, president and chief operating officer of Versatile Credit.
Retailers can leverage Versatile’s comprehensive dashboard and analytics tools to gain actionable insights and benchmark the performance of their financing program down to the sales associate level.
Versatile’s omnichannel platform is currently in use in thousands of storefronts across North America. Since 2007, Versatile has facilitated more than $29 billion in approved retail credit including more than $5 billion in 2019.
I’m Powell Slaughter, senior editor at Furniture/Today. I returned to the publication in January 2015 after nine years of writing about furniture retail strategies and best practices at a monthly magazine focusing on home furnishings retail operations. Prior to that, I spent 10 years with F/T covering wood furniture, the last five of those as case goods editor. Upon my return to F/T, I developed coverage of the logistical and service aspects of the furniture industry as well as following the occasional, home office and home entertainment categories. In April 2018 I took over the upholstery category, with responsibility for coverage of the fabric and leather stationary and motion upholstery, recliners and massage chair categories.