Mash announces Verifone pay later tie up

Mash has teamed with Verifone to provide a pay later solution for use in stores across Europe. This follows on from a pilot in Finland and taps Verifone Connect, which is available on all Verifone Engage, Carbon and select VX devices.

Consumers will be able to forego payment at the time of purchase by selecting the Mash option for instant onboarding and credit approval. Within 14 days, they will receive an invoice to pay the balance in full or choose to convert the payment into a monthly installment plan. Mash handles their financial obligations.

“Today’s in-store financing solutions are not seen as a source of competitive advantage by business owners because they are hard to use and create a large degree of friction at the Point of Sale,” says James Hickson Group CEO at Mash. “We believed this needed to change. Since we launched our initial pilot with Verifone in Finland, businesses have highlighted the service’s simplicity and their ability to secure larger basket sizes. We have seen excellent traction since the pilot in November and are now up and running with hundreds of merchants across a range of market segments. We are now focused on scaling significantly in 1Q 2018 and empowering businesses across Europe.”

“For both merchants and consumers, our partnership with Mash underscores our ability to deliver differentiated experiences through Verifone Connect, a fully integrated global product that enables merchants to start, run and grow their business well beyond accepting payments,” says Nathan Gill, Vice President of Digital Services, Verifone Europe.