But the opposite situation is also possible, when two parties seek to extract maximum benefit at the expense of the third. In this case, banks and stores take advantage of the spontaneity of the decision and the carelessness of buyers, who are often not ready to evaluate all the pros and cons of a POS loan. The key value for them is the chance to buy the item they like right now. Therefore, buyers are often happy to believe in “incredibly favorable” loan terms.
The terms of financing are formed by the lender. However, it is in the interests of the store to cooperate with those banks and microfinance organizations that can provide a quick loan and guarantee a high approval rate. Therefore, to apply for a POS loan, a minimum of documents is usually required - often only a passport and SNILS are enough.
The process itself mainly involves financing in 3 simple steps. This is the path that buyers most often take to get a POS loan: application, decision, agreement on terms. The questionnaire is filled out by a guangdong mobile number database bank representative, who also checks the documents and reports the final decision. If it is positive, then all that remains is to sign the agreement - after that, the money will be transferred to the store account and the buyer will be able to pick up the goods.
Alternative options for registration are also possible - for example, remotely. Then the process is transferred to the bank's mobile application. However, this format is usually available only to existing clients of the financial institution.
How profitable is a POS loan for a buyer?
The benefits of POS lending for banks and stores are obvious. But the buyer may not always feel its advantages. Let's consider the significant pros and cons of this form of financing for the average consumer.
Advantages
The main advantage of such a loan is the ease of registration. Minimum requirements are imposed on borrowers. A passport and a second document, such as a SNILS or a driver's license, are usually sufficient for the application.
Other benefits of POS loans include:
high approval rate;
simple design;
solution within minutes.
On average, the entire loan application procedure takes no more than 30 minutes. This is convenient for the borrower, who does not need to postpone the purchase: he can take the item he likes right now and pay for it later. In this case, a significant discount can be provided on the product, comparable to the amount of interest paid.
Important: POS lending is relevant not only for regular retail outlets, but also for online stores. In the latter case, financing is usually completely remote.