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Versatile Credit has announced that the technology behind their contactless “Snap Sign” technology has been granted a patent by the U.S. Patent Office


Versatile Credit Inc. (Versatile) recently announced that the technology behind their transition-to-mobile technology, Snap Sign and Snap to Apply, has been officially granted a patent from the U.S. Patent Office. U.S. Patent Number 11,089,031 for “Methods for switchable matrix barcodes for secure website access” encompasses technology that Versatile Credit has deployed to retailers across the country to help their shoppers apply from the safety and security of their own mobile device.


“With this technology Versatile can embed dynamic, cryptographically-signed, and time-constrained QR codes, which customers can simply scan with their smartphone camera to launch on their mobile device”, said Bill Krazter, Chief Innovation Officer at Versatile Credit. “This helps lenders and retailers validate an applicant’s in-store presence while reducing risk of fraudulent use and malicious tampering.”


“While the technology was initially developed to address the demand for unobtrusive methods of validating the location of a customer, the pandemic began to change the way retailers and shoppers looked at the shopping experience,” said Vicki Turjan, President and Chief Operating Officer of Versatile Credit, “Because of this renewed focus on safety, Snap Sign’s contactless, self-service nature became even more relevant in today’s retail environment.”


Versatile’s secure QR code technology is not limited to only the credit application process.  It can also be leveraged for other parts of the sales, financing, and check-out process — from learning more about products to mobile check out and beyond.


“Snap Sign is an illustration of Versatile’s focus on fostering and building new, innovative solutions to help our retail and lending partners address the evolving challenges and opportunities they are facing in building seamless, omnichannel shopping and financing experiences for consumers”, Turjan said.


Snap Sign is the newest addition to Versatile Credit’s platform of in-store and online engagement points, including kiosks, tablets, e-commerce plugins and remote sales tools. Versatile’s platform seamlessly transitions applicants to secondary and tertiary providers if the application is denied, providing shoppers across the FICO spectrum with multiple opportunities to receive a financing offer. Retailers can leverage Versatile’s comprehensive dashboard and analytics tools to gain actionable insights and benchmark the performance of their financing program down to the sales associate level.


About Versatile Credit


Privately held, Versatile Credit offers a technology platform that enables retailers to build a financing program with leading lending providers, innovative financing solutions and engaging customer experiences — leading to more finance applications, more approvals and more sales. For more information about Versatile Credit, visit versatilecredit.com