Amount, a leading fintech company helping financial institutions reinvent the retail experience, today announced Amount Pay, an installment point-of-sale (POS) financing solution launching in Q1 2020.
Amount Pay employs Amount’s best-in-class decisioning engines to support in-person and e-commerce applications for merchants, while using Amount’s industry-leading account-opening platform, Amount 360, to automate fraud prevention and verifications. The platform also includes Amount’s Partner Portal, which enables bank partners and merchants to manage and monitor POS program performance and gain insights through real-time reporting tools. Additionally, merchant integration is a seamless process accomplished via API.
“We have always been focused on enhancing digital products for our bank partners, and now we are using the same technology to expand those partnerships into additional products like point-of-sale,” said Adam Hughes, President & COO of Amount. “Amount Pay unlocks POS for our partners and enables them to go head-to-head with other leading fintech POS lenders while providing retailers with the credibility and stability that goes along with working with an established financial institution.”
Since its conception in 2016, Amount has grown rapidly with a portfolio of customers who collectively manage close to $1T in US assets and service more than 30 million customers.