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July 22, 2019 • Issue 19:07:02

Growing portfolios with new markets,

product opportunities

paying back money borrowed on a credit card intimidating,
whereas installment plans provide a clearer path and time
frame for repayment." Holmes said her research suggests
the product resonates strongly among debit cardholders.
Four in 10 debit cardholders surveyed said they would
consider using an installment plan for everyday purchases
like groceries.

"Bankcard agents are always looking for something to add
to their product mix to get their feet in the door," said Marc
Beauchamp, founder and CEO of Surv Credit, a consumer
finance platform. "This is the next frontier" in merchant
services.

Surv Credit has about 250 agents selling POS installment
lending to merchants in verticals as diverse as automotive
By Patti Murphy repairs, home improvements, and dental and medical
services. And they are earning residuals on all loans. The
erchant services may be a mature business, company works with banks and finance companies on the
but that's not to suggest it's bereft of oppor- back end, who employ artificial intelligence and other tools
tunities. "There are always opportunities," to make instantaneous decisions, Beauchamp notes.
M said James Shepherd, CEO of CCSalesPro,
an Altoona, Pa.-based firm that specializes in training for The benefits to merchants include more sales and higher
merchant level salespeople (MLSs) and ISOs. tickets. "You're not just fighting to save them basis points on
interchange," Beauchamp said. "Instead, you're offering to
Sometimes the opportunities manifest as new verticals, such give them [sales] lifts of 5 percent, 10 percent or 20 percent."
as the burgeoning market for cannabis-related products.
Other times they arise from new products and services for The opportunities presented by installment lending have
existing verticals, like subscription-based services and POS not been lost on the card brands, financial technology firms
installment lending. or large retailers. Last year, Square introduced Square In-
Installment lending: 'next frontier'

Retailers have been offering installment payment plans,
particularly on big-ticket items, for generations. However, Contributed articles inside by:
there's a growing appetite among consumers to use
installment plans to pay for everyday items, including Dee and Emily Karawadra .................................................................32
groceries. Adam Atlas ..............................................................................................34
Nicky Koopman .....................................................................................36
"Whether for purchases large or small, installment plans are Nick Starai................................................................................................39
redefining how consumers view affordability," said Jaclyn
Holmes, director of research at Auriemma Research. "Some
cardholders find the uncertainty and responsibility of TOC on page 3
Continued on page 30