When customers face difficulties completing their applications, it can cause frustration for them and for your business. Snap Finance strives to provide a seamless and issue-free experience, but sometimes customers are unable to complete an application, often for avoidable reasons.
Don’t lose the sale. Review this checklist of the most common application issues and their immediate solutions. Count on Snap to help you navigate any bumps in the road swiftly and efficiently to ensure a smooth application process.
Ensuring that customers fill out their applications accurately is crucial for a smooth approval process. Errors in personal information, income details, or employment history can lead to delays or rejection of the application. Even a simple typo can derail an application.
Solution:
Ensure the customer is using a checking account number and not account information for a savings account or credit or debit card
Keep in mind that P.O. boxes cannot be used as an address
Remind customers they can use a government-issued ID, such as a passport, if they don’t have a driver’s license
Ask customers to carefully review their information for accuracy before submitting the application
Offer assistance in filling out the application. Sometimes a second pair of eyes can catch errors that the applicant might have missed.
During the application process, a verification code is sent by text to the mobile phone number provided by the customer. One of the most common issues customers encounter is not receiving the PIN or verification code needed to proceed with the application.
Solution:
Confirm the phone number is entered correctly
Ensure the customer provided their mobile phone number
Ask the customer to select the Didn’t Get the Code? link if they’ve verified their information is entered correctly
Customers may be concerned if the application asks for an additional payment amount. This typically happens when the invoice amount exceeds the approval amount. It’s important to remember that any additional payments requested in the Merchant Portal are due to the invoice being higher than the approval amount.
Solution:
Enter only the invoice amount the customer is financing on the invoice
Let customers know that any additional payment requested is due to the difference between the invoice amount and the approval amount
Provide a clear explanation to alleviate any concerns
Customers typically get a decision in seconds. After the customer selects Agree and Submit, a loading screen may display signaling the decisioning process is taking place. The results display when it is complete. If approved, the page displays the customer’s approval amount and their payment summary.
Solution:
If there is a delay in an application, help customers confirm the status of their application
Check for missing information if the application is incomplete or shows as Pending after the application has been signed
Remember, if the merchandise has not yet been delivered, the status will show as Pending Delivery
If a Pending Completion status shows, it means the customer’s initial payment failed
Clearly and proactively communicate any known issues with a customer’s application to manage expectations, reduce anxiety, and improve their overall experience
Snap strives to provide a convenient, easy, and seamless application process so customers can quickly get what they need and you can close the sale.
A smooth and efficient application process leads to increased customer satisfaction and helps increase sales. When customers are able to successfully complete their application, their loyalty to your business will likely increase and they may turn to you again when they need help getting what they need. Snap helps you quickly address common application issues so your team can focus on other important tasks to improve overall operational efficiency.
Customers also benefit from a smooth and efficient application process. Accurate and complete applications result in quicker approvals, allowing customers to make their purchases without unnecessary delays. Clear instructions and prompt support reduce customer frustration, leading to a positive shopping experience. Snap’s seamless application process helps build trust and reliability with your customers, encouraging them to return for future purchases.
At Snap, our goal is to provide a seamless and hassle-free financing experience for merchants and customers. By addressing common application issues promptly and accurately, you can help ensure more customers successfully complete their applications with Snap. Together, we can make the application process as straightforward and efficient as possible.
Snap-branded product offering includes retail installment contracts, bank installment loans, and lease-to-own
financing. Talk with your local Snap sales representative for more details on which product qualifies at your store location. For more detailed information, please visit snapfinance.com/legal/financing-options