instalments

Partner Management Workbench

<A new set of products, separately licensed>

This new workbench extends the WAY4 Partner Management solution. It benefits issuers who sell instalments at POS in partnership with retail stores. 

Now the issuer’s employees have user-friendly web interfaces to configure the sales finance scheme/model. The workbench allows them to view and edit partner contracts, commissions you pay to partners or fees they pay to you, and instalment transactions.

partnership management.png

Grace Period for Instalments

<Enhancements to the existing product>

To attract new incentive-driven customers or motivate your existing cardholders to make a purchase on instalment, you can offer them a grace period. The WAY4 instalment scheme allows you to set the N number of periods when the grace rate is applied instead of the base rate.  The portion amount for the grace period can be smaller than for other periods, or be the same. 

To reward an existing instalment user, the issuer can apply the grace conditions in the middle of the instalment annuity plan. This can be done via the Change Instalment Plan procedure.

You can also pre-approve the grace conditions for the cardholders who are converting their revolving credit into instalment via self-service channels (WAY4 Digital Banking, WAY4 Wallet, etc.)

In case of partially early repayment, the defined rates and number of periods will stay the same.

Instalments and Partner Management update

sales partnership

Gross Transaction Reimbursement

<New set of product options, separately licensed>

Now when you run a partner scheme but do not use WAY4 Acquiring, you can reimburse to your merchant the principal amount of transactions made within the partner scheme – in addition to regular scenarios when merchant partners are only settled for partner fees.

Partner Management is intended for card issuers to create consumer finance partnership schemes for retailers, e.g. for those who promote and sell the issuer’s instalment loans and cards at POS. This is particularly relevant when the issuer is not the merchant’s acquirer. Through the new option, issuers can reimburse the retailers directly for the gross amount