Buy Now, Pay Later financing

The problem

For Buy Now, Pay Later lenders, merchant onboarding and scaling poses significant challenges. It’s time-consuming to cultivate technology relationships and complete integrations. Lenders are looking for faster and easier ways to onboard new merchants, and more flexible ways to provide their customers a better user experience.

The solution

Lending solutions based on modern virtual cards work seamlessly with customers’ mobile wallets and merchants’ POS systems to fund purchases in real time.

POS lender app

Application submitted

Your customer applies for a loan to make an on-the-spot purchase.

Glasshouse Payments platform

Card issued

A prefunded virtual card is issued for that specific purchase.

Retail store

Card presented

The store runs the virtual card just as they would any other Visa or Mastercard.

Glasshouse Payments platform

Spend evaluated

Managed or gateway spend controls can be customized for the exact merchant and the start/end date of the installment loan to minimize fraud.

Retail store

Auth requested

Glasshouse Payments’ platform is contacted by the appropriate network for authorization.

POS lender app

Notification received

Glasshouse Payments webhooks allow real-time notifications upon transaction completion.

Glasshouse Payments platform

Funds released

Just-in-Time (JIT) Funding releases funds to the card on approval and in real-time to complete the transaction.

Retail store

Transaction completed

Authorization is successful and the payment is confirmed.

Instant issuance of virtual cards

Fund a prepaid virtual card for the exact amount and pay within seconds of the borrower’s approval, in-store or online.

Machine-to-machine transactions

Start payment cycles without the need to integrate beforehand with a merchant’s POS system wherever Visa/Mastercard is accepted.

Dynamic spend controls

Limit transaction approvals to a specific merchant or time using controls such as a date or a start and end time.

JIT (Just-in-Time) Funding

Ensure that funds are spent for a one-time transaction or an installment payment of an approved loan.

Inject metadata into each transaction record

Streamline the reconciliation of transaction records with the lender’s general ledger (GL) and loan management system (LMS).

Data insights

Get insights into customer spend and offer targeted funding options and grow loyalty.