STAMFORD, Kan., March 8, 2023 – (NYSE: SYF), a leading consumer financial services company, today announced the new Outdoor Credit Card, now available at more than 5,000 Power Sports dealers in the United States. This card makes it easy and affordable for millions of Powersports fans to finance essential aftermarket purchases that ensure a safe and enjoyable ride.
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Enables adventure enthusiasts to purchase power sports equipment, parts, apparel, fuel, service and warranties to fuel their passion for the outdoors; The new credit card provides more than 5,000 dealer partners in the US with a financial solution to capitalize on the capital sports market, which will exceed $131 billion by 2028.
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The Outdoor Credit Card was developed in response to recent research that found two-thirds of dealers are interested in an aftermarket financing program to help expedite purchases.¹ Aftermarket includes parts, apparel, accessories and Services (PGAS) include, which often make. The largest and most profitable segment of dealer sales. Recent research has also shown that customers are more likely to spend more, spend sooner and spend more on aftermarket power sports products when presented with promotional financing options.
Insight Partners reports that by 2028, the global power sports market is expected to reach more than $131 billion. As consumers are eager to spend, outdoor credit cards allow dealers to capitalize on this growing market by offering financing options for important aftermarket vehicle purchases. At the same time, the card makes it easier for dealers to increase the loyalty of existing customers, attract new consumers and ultimately add new revenue.
“As part of the growing popularity of off-road vehicles, interest in power sports has never been stronger. But as sales continue to grow, dealers have struggled to find a financing option to support customers’ purchases of key aftermarket products,” said Darrell Owens, senior vice president. “As a partner in the outdoor industry for more than two decades, we are pleased to offer these dealers a financing program dedicated to power sports customers and the products and services that enhance their outdoor lifestyle. This new card enables us to better integrate with our growing list of dealer partners and provides them with a complete way to increase their sales of a wide variety of outdoor products and services. For consumers, the Outdoor Card provides quick and easy access to everything they need at an affordable price to ensure fun and safe experiences.
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Dealers like RideNow Powersports have been helping their customers finance off-road vehicles for nearly two decades. “For nearly 20 years, we’ve partnered to offer financing options that enable customers to buy the power sports products they want and need,” said Nick Hader, Regional Operations Director, Ridenow. “We are excited to launch the new Outdoor Card, which will make it more affordable for customers to continue their power sports lifestyle. It’s a real benefit to the customer and to us to be able to offer financing solutions not just on the showroom floor, but across our entire dealership.
Outdoor credit cards are issued and serviced by banks. The card joins the company’s other financial offerings, including the CareCredit® Credit Card for health and wellness purchases, the HOME™ Credit Card for home goods and home improvement, and the Car Care™ Credit Card for gas, auto parts and service stations. are included .
To learn more about the Outdoors Credit Card or to find a participating dealer that accepts the card, visit www.My/Outdoors.
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(NYSE: SYF) is a leading consumer financial services company that provides one of the industry’s most comprehensive digitally enabled product suites. Our experience, expertise and scale span a broad spectrum of industries including digital, health and wellness, retail, telecom, home, automotive, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buyer groups, industry associations and healthcare providers whom we call our “partners”. We connect our partners and consumers through our dynamic financial ecosystem and provide them with a variety of financial solutions and innovative digital capabilities to meet their specific needs and provide a seamless, comprehensive experience. We offer the right financial products to the right customers through the channel of their choice. For more information and visit Twitter @ If users can’t pay you, they can’t buy anything from you, so it’s clear that accepting a wide range of payment methods is a good idea to ensure that all users get money your way. can send
In fact, third-party payment methods are available on most sites, with 89% of our benchmark sites offering at least one credit card payment option.
Additionally, our 2021 Quantitative Study of Cart Abandonment Reasons found that 7% of users abandoned a checkout in the last three months because the site didn’t offer the payment option they wanted.
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However, during several rounds of payment testing, we found that offering multiple payment options without carefully designing the payment method selector interface could add complexity to the payment process and lead to selection paralysis.
Additionally, users misunderstanding the third-party checkout flow can lead to both premature abandonment and missed orders.
In this article, we’ll present some of the results of our extensive usability testing research that shows how to design payment selectors and interpret third-party payment flows, as well as outline why and which third parties. -Required payment methods;
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During testing, users were intimidated, faced choice paralysis, and significantly slowed down by payment interfaces that were cluttered with different payment options.
It was clear that the way different payment methods are presented to users has a big impact on how easy it is for the majority of people who still only want to pay with a credit card.
In fact, having “credit card” as the default payment method is especially important because many users are unfamiliar with third-party options.
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An optimal solution requires an advanced disclosure design, where users are only shown the description, fields and buttons of the selected payment method, and all content for non-selected methods is collapsed.
For users who do not know or do not fully understand the options provided by a third party, this will significantly impede the payment method selection process by requiring users to make an active choice; For example, proactively look for and choose a credit card option.
In testing, we’ve consistently found that most people will see the default choice as an obvious “safe choice” that the site advises users to make, and therefore spend little time and energy focusing on alternative methods. will do
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In addition to the most common option as the default option, the interface should take into account the fact that each payment method will have different fields, descriptions, and even associated flows that are only available to users. are applicable to those who choose that payment option.
For example, third-party payment options that direct users to a third-party site will require a clear description of the third-party following flow as well as custom primary button naming, see below.
In testing on both desktop and mobile sites, it has been observed that some payment selector design patterns work much better than others.
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In the one-column radio button interface used by AllPosters, most users gave a disproportionate amount of attention to the 4 alternative payment methods (shown in the eye-tracking graph here) despite the fact that they had already entered their credit card information. was recorded And although none of them chose any of the alternative methods. Note how a single column radio button interface with a default selection will often show the rest of the options as separate selections.
ASOS’s payment interface, where credit cards and third-party payment methods were mixed into one long line, was problematic for many users, with some ignoring the choice entirely.
“Initially it was one-click, something… I’m very surprised that later they don’t have PayPal as a payment method. Usually when I use PayPal, it’s when the site tells me to pay. The method asks to select.”
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This user explained believing that PayPal is not available on Wayfair. This was because alternative payment methods, including PayPal, were completely hidden in the dropdown as the default “Credit Card”.
Some design patterns cause unnecessary delays and hassles for users. For example, it’s nearly impossible to achieve radio button proximity when offering a default selection that expands to reveal a large portion of content placed inside.
For a vertical tabbed design, all payment methods and their labels are placed vertically in a short left-hand column, and the main center column contains detailed content for the selected option.
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For designs with horizontal tabs, all payment methods have a horizontal line at the top.