By Kymberly Martin
Delivering innovative payment option to fund purchases.
In an Australian first, SocietyOne, marketplace lender and Canon Australia, have partnered to integrate personal loans direct into the payment process for online purchases through the online Canon Store portal.
Customers now have the option to pay for their goods with a low-interest personal loan tailored to their individual credit histories, rather than relying on a credit card or other forms of payment.
Available through Canon’s online store (store.canon.com.au), and taking approximately eight minutes to submit an initial application, the SocietyOne finance option provides customers with a potentially better deal on interest rates, and the certainty of payments over a fixed term.
Canon Australia director of consumer imaging, Jason McLean said SocietyOne’s e-payment option provides Canon the opportunity to create a more convenient point-of-sale process for its customers.
“We’ve put a lot of time into helping our community members advance in their photography journey through inspiration and skills development, and helping them get the right equipment in their hands at the right time is critical to their advancement. With this new e-payment solution, as people advance in photographic skill, they can now purchase what they need and avoid the frustration of having to wait,” McLean said.
“Delivering more than expected is something we strive for in everything we do, so we’re proud to provide Canon Store consumers an additional payment option that is quick, convenient and doesn’t interrupt the shopping experience.”
SocietyOne co-founder and chief operating officer, Greg Symons said that as shopping has evolved to include online options for just about everything, it was time for the funding of these purchases to follow suit.
“Shopping in 2017 is a fundamentally different process than it was 10 years ago. Consumers expect immediate outcomes. High-value purchases often need to be financed as credit card balances either don’t fit the purchase or, if they do, they are likely to cost you dearly at over 21 per cent per annum. Using the simple logic of SocietyOne’s personal loan, the higher your credit score, the better your rate so marketplace lending can now help consumers finance goods at a much better rate,” he said.
The e-payment option can also be integrated with most e-stores or e-retailers looking for an alternative to more traditional forms of payment, similar to the new Canon e-payment option. The checkout process is seamless; when a customer chooses to purchase an item using a SocietyOne payment option, they are provided a personal loan quote using their credit profile, and will know immediately if they are likely to qualify, before going through a formal application process.