eBay Canada introduces PayBright financing solution to the platform, enabling shoppers to pay over time
- Canadian customers shopping eBay can now pay for their purchases in installments
- Shoppers can take advantage of PayBright’s market-leading instant credit approval process
- PayBright will be offering a 0% APR promotion on June 5, 2019, with other promotions coming soon
TORONTO, Jun 05, 2019, 05:00 ET – eBay Canada today announced its arrangement with PayBright to introduce the first ever installment payment offering for Canadian eBay customers. Toronto-based PayBright is Canada’s leading provider of installment payment solutions for e-commerce purchases.
Beginning June 5 at 10 am until June 6 at 11:59 pm, PayBright will be offering a 0% APR financing promotion to Canadian shoppers who make purchases on eBay.
“We share a mission with eBay Canada to create an outstanding experience for online shoppers,” said Wayne Pommen, President and CEO of PayBright. “We are excited to offer our fast and easy installment payment solution to more Canadians through this new arrangement, and to add another leading merchant to our platform for existing PayBright users.”
The offering on eBay will initially operate using PayBright’s virtual card solution. Canadian customers shopping eBay can receive an instant approval for a virtual prepaid VISA card to complete their purchase and repay PayBright in bi-weekly or monthly installments.
"We are excited to offer PayBright’s installment payments solution to our Canadian customers, the first-ever service of it’s kind on eBay in Canada,” explained Rob Bigler, COO and Director of Product for eBay Canada & Latin America. “eBay is focused on continually enhancing our shopping experience, and the introduction of this finance solution is just one of the many ways we are bringing more value to the millions of Canadians that shop our marketplace.”
PayBright has partnered with over 4,300 domestic and international merchants, allowing them to offer installment payment plans to their Canadian consumers in a quick and easy experience. 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 was the first integrated installment payment solution for e-commerce sales in Canada, and has been providing installment solutions to customers of Wayfair, Casper, Endy, Peloton, and now eBay. PayBright also offers installment payments in-store, providing a unified omnichannel experience.
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 installment payment 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 and payments platform focused on instant point-of-sale installment payment plans 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 4,300 merchants across all 10 provinces of Canada. Using PayBright’s platform, merchants can have their customers approved for affordable monthly payments online or on-location using desktop, tablet, or smartphone interfaces. PayBright has approved over $600 million in consumer credit since inception and is funded by leading Canadian investors and financial institutions. For more information visit www.paybright.com.
eBay Inc. (NASDAQ: EBAY) is a global commerce leader including the Marketplace, StubHub and Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity through Connected Commerce. Founded in 1995 in San Jose, Calif., eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2018, eBay enabled $95 billion of gross merchandise volume. eBay is visited by more than 8 million unique Canadians per month (comScore Media Metrix: March, 2019). For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
Nicole Macharacek, Communications Specialist
Courtney Wattie, Director of Marketing