ECredit to streamline Gateway’s financing processes

Published November 14th, 2000 - 02:00 GMT

Gateway Europe, Middle East & Africa (EMEA), an international computer manufacturer, announced a contract with eCredit, an online provider of financing solutions, in an effort to improve the company’s customer financing program.  


“Implementing eCredit technology will streamline Gateway’s financing processes, enabling customers looking to purchase a PC to get a decision on finance at very competitive rates within minutes,” explained Lenia Iacovides, director of international markets at Gateway. 


The Gateway EMEA-eCredit partnership follows the roll out of eCredit technology in the US, where Gateway increased its customer financing from $377 million to $2 billion between 1997 and 1999, according to a company release.  


The release added that before appointing eCredit in the US, 20 percent of Gateway’s customers used installment-type financing with 60-70 percent using the then faster and easier option — credit cards. Today, the company disclosed, installment-type financing represents as much as 85 percent of financing in some channels — with costly credit card transactions falling below 50 percent of consumer sales. 


eCredit is a provider of automated credit, financing and receivables management solutions. Its software and services for B-to-B and B-to-C commerce run on the eCredit Global Financing Network, an Internet-based platform that connects businesses to financing partners and global information sources in real time at the point-of-sale. eCredit, headquartered in Dedham, Massachusetts. 


Gateway, a Fortune 250 company founded in 1985, and according to company releases ranked number one in US consumer PC revenue in 1999. In 1999, Gateway was also seventh in total return to shareholders among Fortune 500 companies and tenth in total shareholder returns over the past five years. — (Albawaba-MEBG)

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