By giving retailers the option to offer lines of credit and installment loans at the point of sale, Citi Retail Services is enhancing its embedded payments capabilities.
The first option is Citi Pay Credit, a credit card that can only be used online and a separate line of credit for customers to use at participating merchants. Customers can apply and receive instant approval at the checkout.
Following this in a short while will be Citi Pay Instalment Loan, which will allow customers to make purchases through regular payments spread out over a period of six to sixty months, depending on the retailer.
Read More: Citi builds embedded payments suite with POS instalment loans and lines of credit
