January 19, 2001, 12:00 AM

Next Card's instant financing for big-ticket purchases

NextCard, the leading issuer of consumer credit on the Internet, today announced the launch of its consumer finance division, the NextCard Instant Finance Network. NextCard's prohgram will provide advanced technology and innovative financing platform for click-and-mortar retailers to offer consumers instant credit for big-ticket purchases. IFN will launch initially with nine charter retail partners including Egghead.com, Inc., Diamond.com, GetPlugged.com, Guild.com, Homes.com, Alienware Computers, Lan-Plus Computers, iDot Computers, and Etronics through the end of the year. "By capitalizing on our deep understanding of web technologies, proprietary profile-based pricing and real-time database marketing, we are expanding beyond our core credit card product to offer superior financing for big-ticket purchases," said John Hashman, president and CEO of NextCard. "At over $100 billion, the market for this type of consumer financing is considerable, and because retailers increasingly choose to outsource the financing function, NextCard is uniquely positioned to seize this significant opportunity." NextCard's IFN offers retailers the ability to present customers with three payment options on a single revolving line of credit: promotional financing such as 90 days same-as-cash, budgeted monthly payments, and everyday credit purchases. IFN financing is available for purchase amounts between $500 and $10,000 in five product categories: computers, high-end electronics, luxury items and jewelry, home and office furnishings, and luxury vacations.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From The IR Blog

FPO

Jen McCoy / E-Commerce

7 tips for a successful Halloween social media strategy

Did you know that there are already 273 million Halloween Pins on Pinterest?

FPO

Jeff Oxford / E-Commerce

Is your SEO ready for Q4 2016?

Changes to Google’s ranking scheme puts more emphasis on serving mobile shoppers well. Links and ...

Advertisement