by The partner you pick can make a difference in your bottom line.
In today’s challenging environment, customers are becoming more price-conscious, which can often make it difficult for your team to close sales. That’s why it’s more important than ever to offer a comprehensive financing program that’s easy for both your customers and your team to use, backed by a name your customers know and trust.
You may be saying, “I already accept credit cards… why do I need a financing program?” Industry research shows, however, that by only accepting general-purpose credit cards, you’re probably leaving money on the table. In fact, in a survey conducted by Ipsos on behalf of Wells Fargo, 1 in 4 Wells Fargo Retail Services customers would not have made their purchase without financing.¹
And when Wells Fargo compared furniture purchases made with general-purpose credit cards to those made with the Wells Fargo Retail Services financing program, they found that customers spent over twice as much when using their financing program.² Why? Because customers using the financing program were often approved for a line of credit greater than their original purchase price. In fact, Wells Fargo found that furniture customers were approved for an average of $3,509 more than their requested amount,³ making it possible for them to consider an upgrade, an add-on, or even furnishing another room. It’s the kind of extra purchasing power for your customers that can help your team close more — and bigger — sales.
So once you’ve decided to offer a financing program, how do you choose one? Ask around! Find out what programs other successful businesses are using, and how they feel about the partner they’ve chosen. Do they find the program easy to use? How do their customers like it? And most importantly, how long have they been with the same program? Tenure says a lot about the strength and stability of a financial services provider — after all, in a crowded field of financing options, businesses don’t have to stick with a provider if it doesn’t meet their needs.
Wells Fargo asked their merchants and customers exactly these questions, and here’s what they found:
- 86% of merchants agreed that Wells Fargo is a stable and experienced financial institution.⁴
- 92% of merchants agreed that Wells Fargo is easy to do business with.⁵
- 94% of Wells Fargo customers were satisfied with their financing.⁶
And on the question of tenure, Wells Fargo’s internal data shows that 84% of Wells Fargo Retail Services merchants have been with the program for over a decade!⁷
Choosing the right customer financing partner isn’t just about offering payment options — it’s about creating opportunities. A trusted, easy-to-use program can empower your customers to buy more confidently and help your team close more sales. With proven merchant satisfaction, strong customer approval ratings, and long-term program stability, Wells Fargo Retail Services stands out as a financing partner that can truly support your business growth. When your financing program works for both your team and your customers, everyone wins.
Want to know more? Talk to a Wells Fargo representative today!
Reach out online or call 1-800-577-5191.
1. Percentage of Wells Fargo Retail Services customers who responded “No” to the statement “Would you have made the purchase if the Wells Fargo retail store credit card was not offered” when surveyed by Ipsos on behalf of Wells Fargo, July 18 – September 11, 2024, and November 14 – December 9, 2024. Sample included 263 WFRS merchant customers within the home improvement, home furnishings, outdoor living, and jewelry industries who are decision makers or users of WFRS consumer financing programs.
2. Comparison of furniture transactions over $250 using Wells Fargo private label credit cards versus Wells Fargo general purpose credit cards from January 1 – December 31, 2023.
3. First transaction amount and average credit requested and received for Wells Fargo Retail Services accounts opened within the furniture industry from April 1, 2024 – March 31, 2025.
4. Percentage of participants who indicated “Agree” or “Strongly Agree” with the statement “Wells Fargo Retail Services (WFRS) is a stable and experienced financial institution” when surveyed by Ipsos on behalf of Wells Fargo, March 27 – April 22, 2024. Sample included 263 WFRS merchant customers within the home improvement, home furnishings/appliances/electronics, outdoor living, and jewelry industries who are decision makers or users of WFRS consumer financing programs.
5. Percentage of participants who indicated “Agree” or “Strongly Agree” with the statement “Wells Fargo Retail Services (WFRS) is easy to do business with” when surveyed by Ipsos on behalf of Wells Fargo, March 27 – April 22, 2024. Sample included 263 WFRS merchant customers within the home improvement, home furnishings/appliances/electronics, outdoor living, and jewelry industries who are decision makers or users of WFRS consumer financing programs.
6. Percentage of WFRS finance customers indicated “Satisfied” or “Very Satisfied” with the statement “Overall, how satisfied are you with your Wells Fargo retail store credit card” when surveyed by Ipsos on behalf of Wells Fargo, July 18 – September 11, 2024, and November 14 – December 9, 2024. Sample included 263 WFRS customers within the home improvement, home furnishings, outdoor living, and jewelry industries who are decision makers or users of WFRS consumer financing programs.
7. Includes all active Wells Fargo Retail Services merchant relationships as of June 26, 2024, that were initiated prior to December 31, 2018.
