U.S. Bank Avvance partners with Magwitch to expand its point-of-sale lending offering to more customers
U.S. Bank has announced a strategic partnership between its Avvance point-of-sale lending solution and Magwitch, a Jacksonville-based fintech company.
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Integration of Avvance to the Magwitch lending-as-a-service platform to help merchants meet consumer demand for flexible and trusted POS lending options
The addition of
“The integration of
Magwitch provides lending-as-a-service to 1,100 merchants directly, and more than 2,000 indirectly through its white label technology services across
“Merchants want a single platform to provide a range of financing options to their customers and clients, and we’re looking forward to
Avvance launched in October 2023 as
For more about Avvance, please click here.
About U.S. Bancorp
U.S. Bancorp, with more than 70,000 employees and
Deposit products are offered by
Services may be subject to credit approval. Eligibility requirements, restrictions and fees may apply. See a business banker for details.
About Magwitch
Magwitch is an open lending platform offering a holistic suite of LaaS (Lending-as-a-Service) capabilities to Financial Institutions, Fintechs, and Merchants. Magwitch's platform provides Banks and Credit Unions the ability to enhance their customer base and expand membership with on-demand customer acquisition through indirect and point of sale financing.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250130558282/en/
Media contact:
Joe Rauch,
joseph.rauch@usbank.com
Source: U.S. Bancorp