This type of financial technology enables consumers to access credit directly at the moment of purchase. It allows retailers and service providers to offer financing options to customers who may not have the immediate funds available, or who prefer to pay for goods and services over time. A common example is the option to “buy now, pay later” offered during online checkout or at a physical store register.
Offering immediate access to credit expands consumer purchasing power, potentially increasing sales volume and average transaction size for businesses. It provides an alternative to traditional credit cards, often with simplified application processes and transparent repayment terms. The rise of this technology reflects evolving consumer preferences for flexible payment solutions and the increasing integration of financial services into the retail experience.
