With our lower FICO score requirement and the resulting additional approvals, we are able to help merchants increase sales by approximately 40% and reduce the overall monthly cost of their financing.
(PRWEB) October 15, 2013
Electronic Commerce International, the industry leader in payment processing solutions, today announced the roll-out of their new ECI Finance Solution program.
The ECI Finance Solution is an affordable replacement for the other consumer financing services commonly used by doctors, furniture stores, auto repair shops and myriad business in all industries that have high ticket sales.
The ECI Finance Solution is offered for a low flat monthly rate to the merchant, compared to the percentage of the sale charged by competitors. This could save thousands of dollars yearly and even monthly for high volume merchants.
ECI’s alternative solution gives financing to some of the more credit-challenged customers that merchants would otherwise have to turn away. For instance, the average credit score for consumers under the age of 54 today is 635-685*. Most financing companies demand a credit score upwards of 700 for approval. But with the ECI Finance Solution, merchants can approve credit for FICO scores as low as 600—more approvals means more sales.
“With our lower FICO score requirement and the resulting additional approvals, we are able to help merchants increase sales by approximately 40% and reduce the overall monthly cost of their financing,” said Jim Anderson, CEO of Electronic Commerce International. “This is an extremely exciting opportunity for merchants and their customers.”
ECI Financing Solution is able to approve lower credit scores by sending the credit application to multiple financing sources, allowing consumers to receive more than one option.
Rates can be as low as 0% for consumers with better credit, and unlike finance solution competitors, there is no “default” interest. If the consumer doesn’t pay the financing off in the required time for the 0% rate, they simply start paying interest at a previously agreed upon rate on the unpaid balance only.
To learn more about the services offered by Electronic Commerce International, please visit http://www.ecistore.com.
About Electronic Commerce International:
For more than a decade, Las Vegas-based Electronic Commerce International has been providing affordable, personalized payment processing solutions to merchants of all sizes in the United States and Canada, so business owners can focus on growing their company. ECI has more value added services for small, medium and large businesses than anyone, like Text Marketing, Business Lines of Credit, Merchant Cash Advance, Gift and Loyalty Program, Mobile Processing, 90 Days Same as Cash and Check Guarantee. ECI prides itself on superior customer service, offering support 24 hours a day, seven days a week. To learn more about Electronic Commerce and their extensive products visit them at http://www.ecistore.com.