High customer volumes and recurrent purchases are two powerful factors behind a retailer’s decision to provide their customers with financial services, thus creating new sources of revenue and increasing customer loyalty.
Even with so many opportunities to tap into, lack of expertise in financial services is often a barrier for retailers to join this industry.
Not to mention the high cost of rolling out new financial solutions, making it harder for retailers to join an industry known for its innovation and agility.
When a retailer provides their customers with financial services, there is a number of benefits:
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