MyTab™- How To Drive More Repeat Business With Revolving Credit



With the FuturePay® digital revolving credit solution — MyTab — shoppers have the freedom to apply once, buy often and pay later with flexible payment terms, without the hassle of credit cards or single-purchase BNPL installment loans.

For merchants, MyTab’s revolving credit line encourages repeat purchases and allows them to develop long-term engagements with their customers, building brand loyalty and increasing the customer lifetime value (LTV) of those relationships.

Here’s how it works

Digital Revolving Credit enables consumers to put purchases on a digital version of a “tab.”

When online shoppers are ready to checkout, they choose MyTab as the payment option, and apply for a revolving line of credit within minutes from any device.

79% of smartphone users have made an online purchase on their phone in the last six months. That’s why MyTab is designed for mobile users to have a fast, fun, and easy checkout experience on a device of their choice.

Merchants get paid within two business days, and shoppers can pay flexibly over time or pay their tab in full. MyTab’s flexible payment options allow shoppers to create a schedule that fits their budgets, compared to the more rigid fixed installment payment plans associated with traditional BNPL options.

Shoppers don’t have to reapply for additional financing every time they want to make additional purchases. And since digital revolving credit accounts are private, they can provide a credit line for discretionary purchases separate from credit cards.

Freedom and flexibility for shoppers

For customers who don’t have a credit card, prefer a flexible payment schedule, or want a faster and easier way to complete new and recurring online purchases, FuturePay is a shopper-friendly solution that is disrupting traditional payments.

Here are some of the key benefits for customers:

  • Flexible payment terms – with a minimum payment of $20/month, customers get the freedom to choose how and when they will pay back their purchases.
  • Apply once, buy often – MyTab allows consumers to reuse their credit on a long-term basis as long as their accounts remain in good standing.
  • Fixed finance charge – Transparent terms make it easy to understand and budget
  • Easy to use – Ongoing purchases only require user name and password for fast, frictionless experience.

Increased revenue and loyalty for merchants

One of the leading causes of cart abandonment (55% of shoppers) is being asked to enter a credit card a second time. Also, according to one source $145 Billion in sales are lost each year to credit card failures. Many of these failures come from users who simply have out-of-date credit card information stored on devices and sites. Skip the hassle of antiquated payment options with MyTab, a flexible revolving credit solution..

Some key benefits for merchants include:

  • Easy commerce platform integration – Easily integrates with leading commerce platforms and is now available[1]  as a pre-built integration for Bold Checkout.
  • Low merchant fees merchants are typically charged less than by credit cards and BNPL providers.
  • Drives growth – The ability for the shopper to apply once and make follow-on purchases with their credit line again and again enables repeat business and long-term customer relationships.
  • Reduced revenue loss – Stop losing revenue to cart abandonment, checkout abandonment and credit card failure with a reliable, single-click payment method.
  • Increased brand loyalty – Provide customers with a familiar way to make purchases to drive affinity for your brand.

A fashionable case for FuturePay

 JamieShow sells boutique couture dolls for fashion shows and collectors. A long-time FuturePay customer, JamieShow uses MyTab to provide shoppers with an easy, convenient way to shop new collections. The revolving, open line of credit allows collectors to apply once and then make repeat purchases without having to reapply. They have used MyTab to attract new customers while increasing the LTV of existing customers thanks to added convenience and loyalty.

 FuturePay + Checkout: A Bold integration

 Thanks to a recent integration with Bold Commerce, FuturePay is now able to better serve the needs of e-commerce brands and their customers. As a pre-built integration for Bold’s composable checkout suite, FuturePay enables innovative brands to offer a flexible and convenient buy-now-pay-later option within the checkout. Tim Harris, CEO of FuturePay said: “Together we can drive innovation in the digital checkout process by delivering an easy-to-use, flexible financing option that is an appealing alternative to traditional credit cards and BNPL offerings. We anticipate rapidly growing our merchant base through this relationship, delivering a premium financing experience that is fast, efficient, and secure.”

Get Started

 FuturePay’s MyTab is more than a digital payment method. Offer your customers a revolving line of credit that converts new shoppers, increases AOV and LTV, and drives customer loyalty and subscriptions.

Get started today with 50% off all merchant fees until Q2 2023.

Schedule A Call

Revolving credit is made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender.

This originally appeared on Bold Commerce and is made available here to cast a wider net of discovery.
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Steve has entrepreneurship in his DNA. Starting in the early 2000s, Steve achieved eBay Power Seller status which propelled him to become a founding partner of, a contact lens and eyewear retailer. Four years later through a successful exit from that startup, he embarked on his next journey into digital strategy for direct-to-consumer brands.

Currently, Steve is a Senior Merchant Success Manager at Shopify, where he helps brands to identify, navigate and accelerate growth online and in-store.

To maintain his competitive edge, Steve also hosts the top-rated twice-weekly podcast eCommerce Fastlane. He interviews Shopify Partners and subject matter experts who share the latest marketing strategy, tactics, platforms, and must-have apps, that assist Shopify-powered brands to improve efficiencies, profitably grow revenue and to build lifetime customer loyalty.

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