Katapult logo

Katapult

Develop by katapult.com
Free App

"Katapult: Lease-to-own checkout for underserved consumers, boosting retail inclusivity."

Api integration
Order management
Lease-to-own
Simple checkout
Fast approvals

About Katapult

Launched Aug 12, 2021

Categories

Built by katapult.com

Introduction Video

Description

Katapult No Credit Required lease-to-own checkout solution for ecommerce.

With Katapult, you can offer a lease-to-own checkout solution for the underserved subprime & no credit consumer market, allowing consumers who may not qualify for traditional financing find a path to ownership for the products they need. Katapult focuses on an omni-channel experience, partnering with both eCommerce and brick & mortar retailers nationwide.

Consumers experience a user-friendly checkout process with three easy steps and only 14 required fields, making the application simple and fast with approvals in less than 5 seconds. Additionally, Katapult utilizes proprietary algorithms for approvals and does not rely on consumer FICO scores. At Katapult, we pride ourselves on the transparency of our agreements and our award winning customer service and 24/7 chat support.

The Katapult app utilizes APIs to modify your payments page to accept Katapult as a payment option and is seamlessly embedded into your checkout flow via an iframe. Katapult handles all consumer application approvals, payment processing, and lease servicing. Our app also provides the functionality to manage post-origination functions from the BigCommerce admin portal, including cancel order/cancel item and order management through our APIs. In addition, we offer a full library of marketing assets, like pre-approval buttons and banners, for our retail partners as these are not natively built into the app.

Pros

  • Enables lease-to-own solutions for consumers with subprime or no credit.
  • Provides a fast and user-friendly checkout process with three easy steps.
  • Utilizes proprietary algorithms for fast approvals, often within 5 seconds.
  • Does not rely on consumer FICO scores for approval.
  • Offers transparency in agreements and award-winning customer service.
  • Provides 24/7 chat support for consumers.
  • Seamlessly integrates into eCommerce and brick & mortar retailer checkout flows via APIs and iframes.
  • Handles application approvals, payment processing, and lease servicing.
  • Allows management of post-origination functions from the BigCommerce admin portal.
  • Offers marketing assets like pre-approval buttons and banners for retail partners.

Cons

  • Relies heavily on integration with existing retail systems which might pose technical challenges.
  • May not be suitable for retailers who do not use BigCommerce or similar platforms.
  • The requirement of integration via APIs and modification of payment pages might be complex for some users.
  • Limited marketing tools natively built into the app, requiring retailers to utilize external assets.
  • Reviews are needed for a clearer picture of user-reported cons.

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