Bringing digital financing to physical channels with QR codes

Here at APPROVE, we believe…actually…we know, from experience and performance data, that when you proactively present affordable monthly finance estimates at the beginning of every buyer’s journey, you will convert more sales.

Many businesses either can’t afford to spend capital on expensive equipment all at once or simply prefer the benefits of conserving cash and offsetting expense with equipment utilization and revenue generation. Presenting a monthly finance payment option next to products and purchase prices makes your customers immediately aware there is an affordable alternative to paying in full.

Most of the tools we’ve built for APPROVE users are designed to make it easy and efficient for equipment vendors to embed monthly financing payment estimates and digital finance applications next to products and purchase prices on digital channels where customers may be reviewing products and pricing, Including:

• E-commerce website product pages
• Customer quotes
• Emails and texts sent to customers

Then we realized sometimes business is still done face-to-face. We decided to develop a way for equipment vendors to present financing options and enable customers to apply for financing when in physical locations, like in stores or at trade shows.

Enter the finance application QR Code
While more and more equipment sales transactions are taking place online and over the phone, there are still plenty of deals done in brick and mortar store locations and on trade show floors. 

APPROVE’s APP Link Generator makes it easy for equipment vendors to create a custom finance application in about 30 seconds by completing 4 fields: Equipment Description, Purchase Price, Quantity, Condition.

The App Link Generator automatically calculates the estimated monthly payment, creates a preconfigured application and generates a QR code, which is linked to the application. The QR Code can be copied and pasted along with the estimated monthly payment on product spec sheets or any type of physical signage that gets printed. 

Scan and Apply

Now customers and prospects can simply scan the QR Code with their mobile device and it will open their digital application, which is already preconfigured with the equipment model and estimated monthly finance payment. The customer can complete and submit the application in 1 - 2 minutes directly from their device. Here are three practical ways APPROVE equipment vendors are using QR Codes to sell more equipment offline:

Financing options in your stores
With scannable QR codes on equipment and signage, APPROVE empowers your business to present affordable monthly payments at your in-store points of sale and makes it easy for customers to apply in about a minute.

Financing on trade show floors

Many APPROVE customers place application QR codes directly on equipment being showcased at industry trade shows. Booth visitors can apply on the spot in about 60 seconds with their mobile devices.

Financing QR codes on product spec sheets and brochures

APPROVE’s Application QR code generator spits out a QR code associated with an itemized equipment finance application. Add the QR code to the appropriate product spec sheet and customers can scan and apply with their mobile devices in about a minute.

QR codes linked to hosted finance applications connect the physical world and physical products to the ease and efficiency of digital technology.