Canadian fintech lender PayBright announced on Thursday its e-commerce financing solution is now available for merchants operating the IBM Websphere Commerce platform.
According to PayBright, the e-commerce solution integrates with merchant’s e-commerce platforms and provides Canadian customers with an additional payment option at checkout. Upon selecting PayBright as a payment method, customers can finalize their purchases in a matter of seconds. Merchants then 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%. Wayne Pommen, President & CEO of PayBright, stated:
“PayBright’s instant e-commerce financing solution is now available to more merchants and consumers. 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 also reported that it 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. The company added:
“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.”