Canadian fintech lender PayBright announced today that its e-commerce financing solution is now available for merchants operating on Salesforce Commerce Cloud.
PayBright's e-commerce solution integrates with merchants' e-commerce platforms and provides Canadian customers with an additional payment option at checkout. After selecting PayBright as a payment method, customers can quickly finalize their purchases. Merchants receive their funds directly from PayBright the next business day with no credit risk. Customers then pay for their purchases in monthly installments over time, with interest rates as low as zero percent.
"We're excited to make e-commerce financing accessible to more merchants and consumers through PayBright's integration with Salesforce Commerce Cloud," said Wayne Pommen, President & CEO of PayBright. "This launch accelerates the rollout of our e-commerce solution designed for the Canadian market, reaching those online merchants who use Salesforce Commerce Cloud."
"Creating personalized, omnichannel experiences is now more important than ever for brands," said Mike Wolff, SVP, ISV Sales, Salesforce. "By leveraging the power of Commerce Cloud and the new integration from PayBright, customers in Canada will now be able to pay for purchases over time in a fast and easy process."
PayBright's integration with Salesforce Commerce Cloud adds to its existing support of the Shopify, Magento 1.x and 2.0, WooCommerce, IBM Websphere, and Solidus e-commerce platforms. Merchants using any of these platforms can rapidly deploy PayBright as a payment option for customers. PayBright will release additional platform integrations in 2018.
E-commerce merchants that partner with PayBright are seeing growth in customer traffic, increases in checkout conversion, and average order values that are significantly higher than orders that do not benefit from financing. Overall, offering installment payments is driving significantly higher revenue per visitor.
PayBright provides consumers with virtual credit accounts they can use to make purchases at participating merchants. Each purchase is paid for with a straightforward, easy-to-understand installment payment plan. PayBright does not require consumers to sign up for a credit card, and does not charge hidden fees or punitive rates of interest for late payments.
PayBright is a Canadian consumer lender focused on instant financing at the point-of-sale, whether at bricks-and-mortar locations or in e-commerce transactions. PayBright was the first company to launch instant financing for e-commerce purchases in Canada. Headquartered in Toronto, PayBright is partnered with over 3,000 merchants across all 10 provinces of Canada. Using PayBright's platform, merchants can have their customers approved for affordable monthly payments on-location or online using desktop, tablet, or smartphone interfaces. PayBright has approved over $300 million in consumer credit since inception and is funded by major Canadian financial institutions including iA Financial Group and CWB Financial Group. For more information visit www.paybright.com