U.S. Bank, an industry leader in payment services, announces today the launch of Avvance, an embedded, multi-channel point of sale lending solution. „Avvance empowers businesses with the ability to offer consumer financing during checkout with a quick application and instant decisioning.” – according to the press release.
Payment methods are constantly evolving and so are consumer expectations. Avvance offers a transparent, convenient way to pay over time with loan options available during the checkout experience.
„Backed by U.S. Bank, offers are personalized providing flexibility while maintaining healthy spending habits. For business owners, Avvance is embedded in the checkout process, enabling them to offer convenience for their customers from a trusted provider without the hassle of managing payments after the sale.” the bank explains.
“Consumers like the certainty of knowing their payment amount and terms at the time of sale, with easy and instant access to credit. 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. U.S. Bank, the primary source of the consumer loans, manages all aspects from application to servicing, so business owners can focus on what they do best — running their business.”
„U.S. Bank Avvance™offers flexible alternatives to pay so customers can own the purchase and the process, and business owners attract more sales, more often, streamlining the payment experience.” -the bank added.
U.S. Bancorp, with approximately 75,000 employees and $668 billion in assets as of September 30, 2023, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management.
Elavon is owned by U.S. Bank (NYSE: USB), the fifth-largest bank in the United States, and provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, and Canada. As the leading provider for airlines and a top five provider in hospitality, healthcare, retail, and public sector/education, Elavon’s innovative payment solutions are designed to solve pain points for businesses from small to the largest global enterprises.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: