PayPoint acquires Aperidata

PayPoint’s acquisition of AperiData is a signal that consumer financing is moving toward real-time credit decisioning. For retailers and operators, this means the 'black box' of credit approvals is becoming more transparent and faster. AperiData specializes in Open Banking. Instead of relying solely on old credit scores that might be weeks out of date, this technology looks at a customer’s actual bank account activity in real-time. This is a win for your conversion rates. Open Banking allows lenders to say 'yes' to customers who might have thin credit files but healthy bank balances. It reduces the need for manual document uploads like pay stubs. PayPoint plans to integrate these tools across its retail and digital platforms. This will streamline how you offer credit at the point of sale. Faster approvals mean fewer abandoned carts and higher average order values. As more lenders adopt these Open Banking tools, expect a shift away from traditional bureaus. Your business will benefit from a more accurate picture of a customer's ability to pay, which can lead to lower default rates and more sustainable financing options for your client base.

Source: Finextra — Lending

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