More than 600 online merchants offer consumers an open line of credit they can use for installment payments through privately held FuturePay. The company built its lending platform in-house and delivers a fraud risk and credit decision within three seconds, leveraging eight databases to analyze relevant data points to create a score. FuturePay holds all receivables on its balance sheet, supported by financing from Celtic Bank in Salt Lake City, Utah, which also funds loans for other alternative lenders including OnDeck and Kabbage. Online shoppers are introduced to FuturePay’s “Buy N...