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U.S. Bancorp (NYSE:USB) launched a multi-channel point-of-sale lending solution so that businesses can offer customers new ways to pay over time with loan options available during the checkout process, it said on Tuesday.
The new feature, called Avvance, is designed to drive up businesses’ sales as their customers’ payment experience will be streamlined.
“With Avvance, business owners have the ability to attract new customers while increasing their buying power, resulting in increased sales,” said Mia Huntington, executive vice president of Buy Now, Pay Later and Point-of-Sale Lending at U.S. Bank and Elavon.
“Our point-of-sale lending product allows business owners the ability to offer affordable financing while they receive full payment at the time of sale,” she added.