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US Bank launches POS lending tech

US Bank launches POS lending tech

US Bank has launched an embedded, multi-channel point-of-sale lending platform that lets firms offer customers financing at the checkout.

Called Avvance, the bank-backed option promises a quick application process and instant decisioning for personalised loans.

US Bank says that Avvance provides shoppers with convenience and flexibility while giving businesses a new payment option from a trusted provider without the hassle of managing payments after the sale.

Mia Huntington, EVP, BNPL and POS lending, US Bank and Elavon, says: "With Avvance, business owners have the ability to attract new customers while increasing their buying power, resulting in increased sales.

"Our point-of-sale lending product allows business owners the ability to offer affordable financing while they receive full payment at the time of sale. US Bank, the primary source of the consumer loans, manages all aspects from application to servicing, so business owners can focus on what they do best — running their business."

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