Avvance
What is Avvance?
Avvance is an alternative payment option designed to offer quick and affordable financing terms at the
consumer checkout experience, issued by the 5th largest Bank in the U.S., and matched to each individual’s
financial needs.
Why Pay with Avvance
• Repayment terms in months (not weeks): 3, 6, 12, 18, 24, 36, 48, and 60 months
• Loans from $300 – $25,000
• 0% and APR-based offers available (life of the loan, no deferred interest)
• Maximum APR of 24.99%
Merchant Benefits
• Receive full payment at the time of transaction
• US Bank holds the risk and handles repayment and notifications
• Competitive MDRs and Zero Interchange processing costs with Avvance
Merchant Tools: Avvance Merchant Portal (AMP):
A merchant’s one-stop shop to manage their Avvance services
• Home: Access Merchant Dashboard
• Marketing Material: Access marketing materials
• Training Material: Access training videos, guides & FAQs
• Modify my Avvance: Modify loan options
| LENDING LANDSCAPE | PAY in 4 | Point-of-sale-lending (POSL) with Avvance |
|---|---|---|
| Loan Amount | Smaller purchases less than $1000 | Larger Purchases up to $25,000 |
| Repayment Duration | 25% now, 3 more instalments bi-weekly | Medium to long term 3 to 60 months |
| Approval Process | DTI based, no bureau reporting, soft pull only | Comprehensive credit assessment; all trade lines reported |
| Interest and Fees | Typically interest free. Late fees or deferred interest may apply | Interest rate based on credit worthiness. APR and zero percent offers. Usury cap 24.99% (Ohio charter) |
| Consumer Experience | Highly Convenient – Seamless integration, heavy focus on e-commerce | Seamless integration at checkout, heavy focus on higher ticket, in-person |
| Regulatory Environment | Increasing regulator interest | Operating under U.S. Bank charter, subject to instalment regulations and all state laws |
| Consumer Protections | Basic consumer protection | Transparent disclosures; disputes and refunds mirror credit card processes |
| Risk Management | Focus on rapid growth, seek higher yields | Follows all U.S. Bank Risk Management |
