QuadPay Partners with Mastercard Vyze to Make it Easy for Retailers to Offer Shoppers Buy Now Pay Later Installment Payments
31 August 2020 - 11:00PM
Business Wire
The partnership combines cloud-based financing
with “Buy Now, Pay Later” payment plan technology to bring more
payment options to consumers
QuadPay, a pioneer in the Buy Now, Pay Later (BNPL) market, and
recently merged with Zip Co (ASX: Z1P), announced today a
partnership with Mastercard Vyze, the leading alternative financing
platform, to provide businesses and customers with an installment
based payment shopping experience - online and in-store.
Vyze operates an end-to-end technology platform that connects
businesses and lenders to deliver more financing options to
consumers at checkout. Merchants on the Vyze platform include
national and regional retailers in the home improvement,
electronics, and home fitness spaces.
This partnership enables Vyze to offer a leading Buy Now, Pay
Later payment method to merchants, while providing QuadPay
distribution across the Vyze merchant network through a single
integration.
QuadPay and Vyze will grant consumers access to the simple and
transparent pay in four installments option through one application
form. QuadPay’s BNPL financing model is most commonly used for
purchases between $35 and $1,500, and includes no interest and no
stress on credit scores, which opens an abundance of options during
a time when every dollar needs to stretch.
QuadPay offers material benefits to merchants typically
delivering an average order value lift of 20% to 60% and conversion
rate improvements of up to 20% almost immediately after launch.
“As QuadPay continues to grow as a leader in the BNPL industry,
our team is thrilled to partner with Mastercard,” said Brad
Lindenberg, Co-CEO of QuadPay. “This partnership came at an
important time for both parties as Buy Now Pay Later becomes a must
have throughout the eCommerce landscape. We are excited to tap into
the Mastercard merchant base and scale our offering more
broadly.”
“This is a powerful partnership that we believe will grant
shoppers choice, assurance and simplicity at checkout and provide
businesses the opportunity to experience higher approval rates,
driving consumer loyalty,” said Mitch Ferro, CEO of Mastercard
Vyze. “We are excited to add QuadPay to our lender network and look
forward to introducing them to new and existing customers
alike.”
About QuadPay
QuadPay (ASX: Z1P) is a leading US-based installments platform,
providing consumers with a simple, transparent, and financially
responsible alternative to traditional credit. QuadPay is
reinventing the payments landscape with its focus on innovation and
customer-centricity, enabling more than 1.8 million customers to
pay in four interest-free installments over six weeks. The
company’s market-leading app, which has been downloaded over 2.3
million times, enables seamless integration for merchants and the
ability for customers to shop online and in-store interest-free,
not just with QuadPay’s 4,700 integrated merchants, but with
leading global retailers. For more information, visit:
www.quadpay.com.
About Mastercard Vyze, www.vyze.com
Vyze is Mastercard’s leading financial technology platform that
connects merchants with lenders to provide best-fit financing at
checkout in store and online. The waterfall solution matches
consumers with the best lending product for their needs, selected
from a number of different financial products. This enables
merchants to offer their customers choice, assurance, and
simplicity, while driving increased loyalty and approval rates.
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version on businesswire.com: https://www.businesswire.com/news/home/20200831005183/en/
QuadPay Shira Schwartz Shira.Schwartz@quadpay.com
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