TORONTO, April 5, 2018 /PRNewswire/ - Canadian fintech lender PayBright announced today that its e-commerce financing solution is now available for merchants operating the IBM Websphere Commerce platform.
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 finalize their purchases in a matter of seconds. Merchants receive their funds directly from PayBright the next business day with no credit risk. Customers then pay for their purchases in affordable monthly installments over time, with interest rates as low as 0%.
"PayBright's instant e-commerce financing solution is now available to more merchants and consumers," said Wayne Pommen, President & CEO of PayBright. "This integration makes it easy for large online merchants using IBM Websphere Commerce to offer PayBright as a payment method and grow their sales."
PayBright's integration with IBM Websphere Commerce adds to its existing support of e-commerce platforms including Shopify, Magento, WooCommerce, and Solidus. 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 of 10-25%, and average order values that are as much as 100% higher than orders that do not benefit from financing. Overall, offering installment payments drives 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. Unlike other financing options, PayBright does not require consumers to sign up for a credit card and does not charge hidden fees or punitive interest rates.
PayBright is a Canadian consumer lender focused on instant point-of-sale financing for both e-commerce and in-store 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
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