- Canadian customers shopping boohoo.ca can now pay for their purchases in four bi-weekly interest-free payments
- Follows boohoo's highly successful 'buy now, pay later' launches in other markets
- Enabled seamlessly through PayBright's technical integration with Klarna, building on Klarna's successful partnership with boohoo in the US and Europe
TORONTO, May 12, 2020 /CNW/ - boohoo, a leading global online fashion e-tailer, today announced a partnership with PayBright to offer an interest-free installment payment option for Canadian shoppers. Toronto-based PayBright is Canada's leading provider of installment payment solutions for e-commerce purchases.
Canadians are now able to use PayBright as a payment method when ordering a minimum of C$35 from boohoo. Customers selecting PayBright at checkout will benefit from PayBright's "Pay in 4" payment option, making four interest-free biweekly installments to pay for their purchases.
"We've seen strong results from offering our customers installment payment options in other markets, including the US and Europe," said Justin Lodge, International Director of boohoo group. "Bringing this payment option to our fast-growing Canadian business was the next step, and we are pleased to partner with PayBright as the leading buy now, pay later provider in Canada. This will help us cement customer satisfaction and loyalty and bring the full boohoo shopping experience to the Canadian market."
PayBright is partnered with over 6,000 domestic and international merchants, enabling 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 completed with other payment methods.
"We are thrilled to be partnering with boohoo to bring their Canadian consumers a pay-later option at checkout," said Wayne Pommen, President & CEO of PayBright. "Interest-free installment payments are especially helpful with budgeting during difficult economic times. The addition of boohoo also enables us to expand our roster of leading fashion and apparel retailers for our rapidly growing base of PayBright users."
With a focus on improving every part of the consumer shopping experience, boohoo continues to push boundaries by giving their customers financial choice at checkout together with PayBright and Klarna. PayBright and Klarna joined forces in March 2019 to give Klarna's more than 200,000 global retailers the ability to turn on installment payments for their Canadian shoppers quickly and easily. Through PayBright, global Klarna retailers can offer alternative payment solutions to their Canadian customers, which help boost average order value, increase checkout conversions and improve customer loyalty.
PayBright was the first integrated installment payment solution for e-commerce sales in Canada. PayBright also offers installment payments in-store, providing a unified omnichannel experience. Unlike other installment payment options, PayBright does not require consumers to sign up for a credit card and does not charge hidden fees, retroactive interest, or revolving interest charges.
Leading the fashion e-commerce market and founded in Manchester in 2006, boohoo.com, an inclusive and innovative brand targeting young, value-orientated customers. For over 13 years, boohoo has been pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7. boohoo has grown rapidly in the UK and internationally, expanding its offering with range extensions into beauty, curve and menswear, through boohooMAN.
boohoo.com is one of the fastest growing international retailers. The product is trend-led, accessible, and wearable; the business is agile and fast paced with a swagger in its step. With 100 new items dropping onsite daily - boohoo.com has quickly evolved into a global fashion leader of its generation.
PayBright is Canada's leading provider of installment payment plans for e-commerce and in-store purchases. Through partnerships with over 6,000 domestic and international retailers, PayBright allows Canadian consumers to buy now and pay later in a quick and easy experience. PayBright is fully integrated with leading retail partners including Steve Madden, Bestseller, Wayfair, Samsung, eBay, TaylorMade, Endy, Casper, The Source, and Lenovo. PayBright's installment plans range from 4 bi-weekly payments for smaller purchases up to 60 months for larger purchases, with interest rates as low as 0%. Headquartered in Toronto, PayBright has provided Canadians with over $1.5 billion in spending power since inception. For more information, visit www.paybright.com.