Innovative Payments Shape the Customer Journey 

By Christine Roberts, EVP and President of Citizens Pay


The current economic landscape, marked by inflation and escalating prices, has had a direct impact on consumer spending habits, giving way to the adoption of a more cautious approach to spending. With 76% of consumers concerned about rising prices for everyday purchases*, the popularity of installment lending and point-of-sale (POS) financing will continue into 2024 especially among younger consumers.


Consumer demand involving their shopping experience is constantly evolving, often more quickly during periods of economic uncertainty – ultimately influencing the retail sales landscape and profitability. Navigating these shifts requires retailers to remain agile and responsive, with increased openness to innovation.


Adopting an embedded lending solution – one tailored to their specific goals and needs – can help retailers differentiate themselves and strengthen the relationship with their customers.

POS installment financing solution will increasingly become a key factor in motivating customers to purchase, today and in the future. They give customers more buying power to purchase the items they love, while also inspiring upgrades and add-ons.

By Christine Roberts, EVP and President of Citizens Pay

Enhancing The Customer Omnichannel Shopping Experience

Driving Repeat Purchases and Customer Loyalty

Ensuring a seamless and positive shopping experience across all channels – online, in-store, and mobile – is a must for retailers looking to stay competitive. This includes the checkout experience and payment options available to consumers.


Simplified checkouts, hassle-free applications, and instant credit approvals are essential features for a POS financing solution to effectively engage customers. Making it easier to shop, regardless of channel, is the priority as consumers are much more likely to purchase when their checkout experience is simple and straightforward. By seamlessly integrating technology into the shopping journey, retailers can meet the expectations of today’s consumers and succeed in an omnichannel retail environment.

In a highly competitive industry, a strong focus on customer loyalty is vital. Retailers can increase engagement and brand loyalty with tailored installment financing solutions. Successful POS financing programs make purchases more accessible and give customers more buying power to purchase the items they love, while also inspiring upgrades and add-ons. Promoting low monthly payments can help drive higher conversion rates and average order value (AOV) by increasing the affordability of products and services.


Retailers should also explore financing solutions that are embedded into the customer journey to maximize sales, drive repeat purchase and customer loyalty, both in-store and online. The more sophisticated installment financing solutions of today are branded and built to complement a retailer’s complex commerce strategies to grow brand awareness and customer loyalty, rather than simply be tacked on during the checkout process. Look for a provider that offers a broad set of product capabilities, is focused on seamless customer experiences, and offers strategic support that best aligns with your objectives.


Ever-changing consumer demands can present significant challenges for retailers. Payment alternatives that are fast, digital, and omnichannel – offering flexibility and configurability – are helping retailers navigate expectations by creating greater cross channel sales, subsequent purchase activity, and a deeper customer relationship. An agile and user-friendly POS installment financing solution will increasingly become a key factor in motivating customers to purchase, today and in the future.

The State of the Retail Industry 2024

JAN 2024