Best Credit Card/Lending Initiative 

Target audience 

PMs, Banks, Telcos, Schemes, Technology providers 

Detailed definition 

Best Lending Initiative in Payments is open to any company that offers credit, whether to a business or a consumer to fund a payment transaction. The loan may be secured, or unsecured for a fixed or variable term including revolving.  

Instalment payments, credit cards, point of sale lending, payday lending, salary lending, BNPL and pay as you earn solutions would all be considered a form of loan and applicable to this category. The credit may be loaded via a payment card to a recipient, or into an account, or paid directly to a merchant.  

All initiatives submitted must be live and out of the test phase at the time of submission. Pilot programmes will be accepted, but must clearly be described as such, and the judges will be looking for evidence of success in the pilot. 

The organisation may operate in any country, and there are no geographical restrictions on where the initiative itself is live.  

The initiatives may be running in any country/countries. 

Please provide the following information: 

Nominee and nominator 

  • Name of nominating organisation 
  • Solution name (entry title) 
  • Name(s) of nominated organisation(s) 
  • The nature of the business relationship between you as the nominator and the nominee company 

Initiative description 

The judges will assess your entry against the following criteria. You are free to describe the programme and support your case with additional material as you think appropriate. However, we strongly suggest that you do NOT submit generic promotional material and sales brochures. Please limit your submission to a maximum of 1,500 words.  

The criteria are: 

  1. How the use of lending has created the best possible payment solution.  
  1. How the solution offered stands out from their competition.    
  1. How the solution offered was either fundamental to individuals or organisations in the market or helped a wide range of companies to achieve their business objectives.  
  1. The payment solution has leveraged brand, channels or other capabilities and technologies to deliver innovative solutions to specific problems or opportunities. 
  1. How the loan provider had clear objectives of what it was looking to achieve and can demonstrate clearly how this was achieved by providing credit to enable payments in the year to the date of submission. 

Evidence of success/metrics 

Please provide as much information as you can and quote the source of that information. Such information might include the following, but this is not an exhaustive list and in each case the judges will be looking for evidence that supports your claims about the key benefits of the programme: 

  • Evidence of the successful delivery of valued solution over time (amount lent, amount of customers lent to, etc.) 
  • Evidence of tailoring products and services and the results of that investment 
  • How has this transformed the user experience?