Data Age Business Systems introduces their newest product, PawnPortal, to enhance their cloud-based pawn shop management software, PawnMaster Ignite. PawnPortal is a mobile-friendly portal where pawn shop customers can log in to make secure payments for renewals, redemptions, or layaways. The new product will allow pawn shop owners to send out mobile payment reminders so customers can log in right from their cell phone to make payments. It was developed to help pawn shops have more touch-points with their customers and give them more opportunities to keep loan payments current.
One of the major benefits for pawn shop owners is that the system will identify debit cards and prepaid credit cards in order to safely accept remote loan payments. Mobile loan payments run the risk of compliance issues that Data Age’s Development team placed a lot of care into addressing when developing their mobile payment products. Credit card processors do not allow existing debts to be paid with credit. This is why Data Age has selected a processor that is able to determine the card type and will only allow loan payments to be made with debit cards or prepaid gift cards. Doing so removes the risk for the merchants, as many pawn shop owners are receiving chargebacks on loan payments being made with credit cards. PawnPortal eliminates that risk by confirming, before the payment is processed, that a credit card is not being used.
In addition to payments, the portal acts as a branded eCommerce site for the pawn shop so consumers can shop the store’s online inventory from anywhere. Pawn customers can also request estimates for new loans by answering a few short questions and uploading images of the item they would like to take out a collateral loan on. The pawn shop will receive a notification, including all of the information submitted, so they can reply directly to the customer. This new feature is expected to increase the number of new loans as well as improve customer experience, solidifying the relationship between the pawn shop and their customers. This is especially important because the pawn industry is extremely competitive.
“As the industry leaders, we’re paving the path for the future of our customers. PawnPortal is an enhancement to our cloud-based pawn shop software, PawnMaster Ignite, where pawn shop owners will be able to drive more revenue for their shops and create more loyalty with their customers. The portal will provide both mobile and desktop experiences for loan, redemption and layaway payments, e-commerce, branding, and even generating leads for new loans,” said Len Summa, CEO of Data Age Business Systems.
PawnPortal is accessed straight from the browser. No app is needed, so it doesn’t bog down the memory on users’ phones.