Instant Credit Kiosks

How retailers can increase average ticket and drive same-day sales with customer-friendly credit kiosks

Instant credit app on
IBM Anyplace Kiosk

The system works by placing touchscreen kiosks at strategic locations on the sales floor. Shoppers use the kiosks to enter their credit and contact info (such as name, address, and phone number), which is then sent to the issuing bank via a secure Internet connection. The bank determines creditworthiness in a matter of seconds, and instantly returns an account number and credit limit for those who are approved. The finance kiosk can even print a temporary paper card or permanent plastic card for immediate, same-day use, along with appropriate terms and conditions from your PLC bank.

Credit kiosks are available in various designs to accomodate diverse retail environments. Popular setups include freestanding kiosk units, tabletop systems, or wall-mounted terminals. Mall-based stores (such as soft-goods retailers) will typically have one or two kiosks per store, while larger venues may have up to five units (such as in the case of a furniture kiosk deployment).

In addition to driving sales, the instant credit system makes shoppers more comfortable by eliminating the stress and hassle of filling out paper forms. Plus, since your staff no longer has to process tedious paper applications, they can spend more time face-to-face with the customer to help close the sale.

In our clients' experience, even a modest increase in a shopper's credit line can motivate them to add high margin accessories or upgrade to more expensive products. In fact, several big-ticket retailers have found that shoppers using the instant credit kiosks spend 10-25% more on their purchases. At the same time, the user-friendly system has increased the number of customers that apply for store credit card accounts. Together, these factors have led to substantial increases in store revenue and margins.

To learn if in-store credit kiosks are right for you, please contact us to receive more information about how the system works, along with real-life examples of the sales uplift and ROI generated by the system.