FuturePay, an e-commerce finance company, has made its MyTab revolving credit platform available to online merchants.

“The MyTab solution is an alternative to traditional credit cards and Buy Now Pay Later (BNPL) installment loan offerings,” FuturePay said in a Monday, August 22, press release.

The solution operates independently of credit card networks and can be integrated with various e-commerce platform shopping carts through a simple “plug and play” application programming interface (API). It allows consumers to make a single application and, upon approval, reuse their lines of credit indefinitely.

Read more: FuturePay Partners with Cross River for Credit Platform

“This has major advantages over ‘apply once/use once’ BNPL installment loans in terms of improving customer lifetime value,” the company said in the statement.

FuturePay said the reusable line of credit increases brand loyalty and provides merchants with recurring revenue through repeat and subscription-based purchases, while BNPL loans end the merchant/customer relationship once payments are made. staggered completed.

“MyTab’s cardless digital revolving credit platform combines the best of all worlds: instant decision-making, an integrated payment solution and the convenience of BNPL with the flexibility and proven business model of traditional credit cards,” said FuturePay CEO Tim Harris.

FuturePay gained access to MyTab in June following an agreement with technology infrastructure provider Cross River. Beyond the selling points mentioned by Harris, the company said MyTab also offers rigorous credit checking and fraud mitigation, similar to how traditional credit cards and store card companies work.

PYMNTS recently looked at a growing trend in the BNPL world: the idea of ​​BNPL companies providing their solutions directly to consumers rather than retailers, a concept some call BNPL 2.0.

See also: BNPL’s New Trick: Remove the ‘middleman’ from retail

“If you look [recognizable] BNPL [1.0] or point-of-sale funding buttons, these payment buttons, they interact directly with retailers,” said Philip Belamant, CEO and co-founder of Zilch. “Their customers are mainly retailers.

“Our objective [at Zilch] is to bring… an integrated financing solution to a customer and let that customer carry it and pay how they want, where they want, for what they want wherever they go, regardless of what the retailer has done .