Wells Fargo Retail Services (Wells Fargo) and Versatile Credit Inc. (Versatile) announced they would begin deploying Versatile’s Snap Sign™contactless self-service technology to participating Wells Fargo retail partners. Snap Sign is a patent-pending technology solution which 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. “We are excited to help our retailers offer their customers a variety of payment options, including the convenience, safety and comfort of contactless mobile applications.”
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. “Snap Sign is a product of Versatile Credit’s continuous focus on fostering novel, innovative solutions to help our retail and lending partners succeed while addressing new, evolving challenges and opportunities in consumer financing.”
Snap Sign is the newest addition to Versatile Credit’s platform of in-store and online engagement points, including kiosks, tablets, e-commerce plugins and remote sales tools. 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.