Ecommerce site - offering Finance

[sam@PS]

Hi Guys,

Just after a bit of help if possible.
I'm part of ecommerce company with an annual turnover of £3m. We're just over 4 years old.
Our average sale is approx £600 but ranges from between £100 - £10k+

We've had plenty of customers ask about finance plans but as of yet we don't have this in place.
Can anyone advise the best companies to approach with regards to offering finance for my customers?

Thanks in advance!

Sam

 

[Bainzee]

Sam,

is your ecommerce business selling b2c or b2b?

 

[Mark T Jones]

Are your customers business or consumer?

In either case you will need FCA authorisation (probably limited authorisation).

 

[sam@PS]

Hi Guys,

Thanks for your reply.

Sorry our business is b2c

Thanks

Sam

 

[TotalWebSolutions]

Klarna offers Pay Now/Pay Later/Monthly options. Have you looked at their offering?

 

[Nico Albrecht]

We were thinking about the same but by just looking at the paperwork and process we gave up but keep in mind there are 3rd party provider who handle that finance option for you. Cs places order and gets redirected to 3rd party credit facility which is fca authorised and pays you on customer behalf. I just picked a random one here off google but we talked to a couple of them https://www.closeretailfinance.co.uk/

 

[Mark T Jones]

We were thinking about the same but by just looking at the paperwork and process we gave up but keep in mind there are 3rd party provider who handle that finance option for you. Cs places order and gets redirected to 3rd party credit facility which is fca authorised and pays you on customer behalf. I just picked a random one here off google but we talked to a couple of them https://www.closeretailfinance.co.uk/

You would still need limited FCA authorisation