COLUMBUS, Ohio — Alliance Data's card services business has launched IntelApply, a customer-initiated prequalification capability for retail private label credit cards.
IntelApply allows shoppers to determine whether they prequalify for credit and what their expected credit limit will be before they apply — without affecting their credit scores. New accounts are immediately available for use, subject to final approval. Retailers can leverage the prequalification capability to increase the purchase power of up to 20% more customers by reaching more credit applicants, including those who have previously opted out of credit prescreens.
Signet Jewelers last month became the first retailer to launch IntelApply.
“Major consumer purchases typically have a longer shopping path to purchase. When customers are confident in their financing options, they accelerate their buying decision. IntelApply is simple and helps brands give their customers a seamless way to pursue a store-branded credit solution as they shop for the things they love most,” said Sheryl McKenzie, VP of product and capabilities for Alliance Data's card services business. “IntelApply demonstrates Alliance Data's commitment to providing the capabilities our brand partners need to reach their customers with the right solutions in the moments that matter.”
Retailers can quickly launch the capability in-store through sales associate tablets, and can also integrate it into their point-of-sale systems and e-commerce sites, Alliance Data explained.