Below is our recent interview with Courtney Wattie, Director of Marketing at PayBright:
Q: What’s your mission at PayBright?
A: We’re here to make purchases easy for consumers. With PayBright, shoppers can pay over time, both online and in-store. We provide a seamless and convenient installment payment option available at over 4,200 retailers.We’re on a mission to be the most utilized e-commerce and in-store installment payment technology in Canada.
Q: What does it take to pay over time with PayBright?
A: For e-commerce, the process looks like this:
1. Select PayBright as your payment method.
2. Enter a few basic pieces of information and get a real-time decision.
3. PayBright will pay the retailer on yourbehalf, and your order will ship right away.
4. Pay PayBright for your purchase over the term of the payment plan – which can range from 6 weeks to 24 months.
Q: Why is now the time for a technology solution like PayBright?
A: PayBright has exploded across the Canadian market over the last two years as the first company in Canada to offer instant installment payments for e-commerce, building on our existing solution for in-store retailers.
We currently enable more than 4,200 Canadian retailers to offer point-of-sale installment payments, including merchants such as Wayfair, Peloton, Casper and Endy. Consumers are now asking their favorite retailers to offer PayBright, and we’re seeing a growing desire in the marketplace for this type of pay-later solution.
Q: How instant consumer financing can help grow a business?
A: Our merchants are seeing growth in customer traffic, increases in checkout conversion of 10-25% and average order values that are as much as 100% higher than orders paid for with other payment methods. Overall, by offering installment payments, we’re helping our merchants drive significantly higher revenue per visitor, as well as higher customer satisfaction.The customer gets more of what they love because they can pay over time, and the merchant sees an increase in their bottom line. It’s a win/win for both the merchant and the customer.
Q: What’s next for PayBright? Do you have plans to grow, expand or diversify?
A: We’re growing rapidly in Canada as more retailers and consumers learn about us. In the coming months we are continuing to launch with new merchant partners in the electronics, apparel, travel, furniture, and sporting goods sectors. We also have new product releases planned in 2019 for both our e-commerce and in-store solutions. It’s a very exciting time for our business… Stay tuned!