FreedomPay and Citi Retail Services have partnered to revolutionize how consumers shop. By integrating with the products of Citi Pay, this collaboration will enhance the point of sale experience for merchants, thereby expanding the array of lending solutions available to shoppers.
This unique synergy combines the strengths of FreedomPay, a leader in commerce technology, and Citi Retail Services, globally recognized for their payment expertise. The result is a user-friendly association for both merchants and consumers. This collaboration marks a shift in point of sale (POS) lending introducing choices and flexibility. By joining forces, these industry leaders demonstrate their commitment to innovation and pave the way for an exciting chapter in improving the retail experience.
Key Takeaways:
- Revolutionizing Consumer Experience: The collaboration between FreedomPay and CRS signifies a groundbreaking effort to revolutionize the consumer experience at the point of sale. By integrating Citi Pay embedded digital payment products, this partnership introduces a new era of choice and convenience, elevating the overall journey for merchants and consumers.
- Empowering Consumer Financial Control: The strategic alliance empowers consumers with unprecedented control over their funding decisions by offering real-time choices in lending solutions at the point of sale. This flexibility not only enhances the shopping experience but also aligns with the growing demand for personalized and adaptable payment options.
- Diversification of Payment Offerings: With the integration of Citi Pay products, merchants can diversify their payment offerings, including options like Buy Now, Pay Later (BNPL), or credit cards. This transformative partnership aims to simplify Citi Pay solutions for merchants and customers, expanding the availability of financing options in the retail sector.
- Customer-Centric Shopping Experience: The collaboration emphasizes creating a customer-centered shopping experience by seamlessly integrating Citi Pay Credit and Citi Pay Installment Loan into merchants’ checkout experiences. This approach bridges the gap between flexibility and seamless digital transactions, aligning with the evolving expectations of modern retail consumers.
- Anticipation for Ongoing Opportunities: Terry O’Neil’s anticipation for ongoing opportunities reflects the commitment to continuous innovation and expansion. As the collaboration progresses, integrating embedded digital payment products is expected to unlock new avenues for both FreedomPay and Citi Retail Services, shaping the future of POS transactions in the retail industry.
FreedomPay and Citi Retail Services’ Strategic Alliance
Image source: FreedomPay
FreedomPay and Citi Retail Services are uniting to revolutionize the consumer experience at the point of sale through Citi Pay embedded digital payment products. This strategic alliance merges FreedomPay’s cutting-edge technology with Citi’s extensive payments expertise, culminating in a seamless and user-friendly journey for merchants and consumers. By introducing choice and convenience, the collaboration elevates the customer journey, offering diverse payment options and lending solutions at the point of sale.
This transformative partnership not only grants consumers the flexibility to choose their preferred lending solutions on the spot but also enhances overall shopping satisfaction. Empowering consumers with control over their funding decisions, the collaboration enables merchants to diversify their payment offerings, including options like BNPL or credit cards. This innovative venture signifies a pivotal step towards enhancing the dynamics of consumer transactions and establishing a more enriched retail market.
Chris Kronenthal, President at FreedomPay, expressed enthusiasm about collaborating with Citi Retail Services. He stated that working together to introduce Citi Pay’s products signifies their commitment to providing advanced commerce technology. This partnership aims to empower consumers with personalized choices for lending solutions. Kronenthal emphasized their dedication to enhancing consumers’ and merchants’ overall shopping experience.
The partnership aims to simplify Citi Pays by using digital payment products available to merchants and customers. This will help expand the availability of financing options in retail. This collaboration signifies a commitment to empowering consumers with informed buying decisions by allowing them to tailor their financing choices according to their financial preferences. Integrating Citi Pay’s products into the FreedomPays platform will create a customer-centered shopping experience. It will bridge the gap between flexibility and seamless digital transactions in the changing world of retail commerce.
Terry O’Neil, Head of Connected Commerce and Strategic Growth for Citi Retail Services, highlighted the partnership with FreedomPay to seamlessly integrate Citi Pay Installment Loan and Citi Pay Credit into merchants’ checkout experiences. This collaboration aims to simplify the process for merchants, irrespective of their scale or size, in offering new payment alternatives and increased choices to their consumers. O’Neil anticipated the ongoing opportunities this partnership would unlock as they expanded their ingrained digital payment offerings in the upcoming years or months.
About FreedomPay
FreedomPay offers a comprehensive commerce platform tailored for businesses seeking versatile cashless payment solutions. Founded by Tom Durovsik in 2000, the company has established itself as a trusted provider in various sectors, including retail, hospitality, gaming, healthcare, financial services, and education. Its white-label approach sets FreedomPay apart, allowing clients to customize the platform to align with their specific requirements.
Regarding security, FreedomPay has earned validation from the PCI Security Standard Council for P2PE. Additionally, the platform boasts NFC, DCC, and EMV capabilities, further enhancing its robust security features. These certifications underscore the company’s commitment to safeguarding transactions and customer data, providing peace of mind to its global clientele. Beyond security, FreedomPay enhances the overall customer experience by streamlining cafe operations and improving speed and convenience. The platform offers value-added services such as guest loyalty programs and online purchasing options. These features not only drive customer engagement but also contribute to increased sales and customer satisfaction.
About Citi Retail Services
Image source: Citi Retail Services
Citi Retail Services (CRS), a privately held company under the leadership of CEO Bill Johnson introduces a new era of private label and co-branded cards that transcend traditional buying power augmentation. Beyond financial transactions, these innovative programs prioritize communication and collaboration to forge lasting loyalty, foster community, and fulfill the commitment to elevated customer support.
Partnering with CRS extends beyond a transactional relationship; it establishes a strategic alliance that uplifts your consumer, commercial, specialty, or franchise-oriented business. With a track record of serving global giants, regardless of scale, CRS offers tailor-made solutions ranging from conventional plastic to cutting-edge digital wallets. Differentiating from competitors like Celerant Technology led by Ian Goldman, CRS epitomizes a commitment to uniqueness, ensuring that its solutions align seamlessly with your business and customer requirements.
Conclusion
The collaboration between FreedomPay and CRS represents a transformative leap in reshaping the consumer experience at the point of sale. By seamlessly integrating the products of Citi Pay into FreedomPay’s advanced commerce technology, this partnership introduces unprecedented choices and flexibility for merchants and consumers. The strategic alliance signifies a commitment to innovation, empowering consumers with personalized lending solutions and enhancing overall shopping satisfaction.
This groundbreaking venture not only streamlines the checkout experience for merchants but also brings forth a new era of consumer-centric transactions. The introduction of Citi Pay Credit and Citi Pay Installment Loan into merchants’ checkout experiences underscores the commitment to simplifying the process and providing increased payment options.
As both companies continue to expand their embedded digital payment products, this collaboration is poised to unlock ongoing opportunities, setting a benchmark for integrating technology, finance, and consumer choice in the dynamic landscape of retail commerce. Chris Kronenthal and Terry O’Neil’s enthusiasm reflects a shared vision of shaping the future of retail, where flexibility, innovation, and a seamless shopping experience are at the forefront.
