Small and medium business owners in Canada who utilize the Clover POS platform can now avail of the buy now pay later option, after Fiserv partners with PayBright.
Fiserv has teamed up with Canada’s leading Buy Now Pay Later (BNPL) solution provider PayBright to allow small businesses in Canada to use the Clover point of sale (POS) platform for BNPL plans at checkout.
Small business owners in Canada who are using the Clover POS platform from Fiserv can avail of this feature and can enable PayBright by downloading its app in the Clover app market
Merchants provide flexible biweekly or monthly installment options to customers
Firms will then be able to offer their customers flexible biweekly or monthly installment payment options that better suit their budgets. Merchants that offer PayBright typically see immediate business results including increased sales, larger average order values (AOV), and growth in repeat business.
"Clover enables small business owners to simplify their day-to-day operations, drive revenue, and provide a delightful experience for their customers," said Brian Green, country head for Canada at Fiserv. "By pairing PayBright capabilities with the Clover platform, our small business clients can now have access to a market-leading BNPL solution that enables them to meet consumer demand and drive new sales and larger basket sizes at the point of purchase."
Late last year, Toronto-based PayBright agreed to be acquired by US’ BNPL giant American Affirm for CAD 340 million ($270.5 million).
Clover is a market-leading POS platform that processes more than $140 billion in annualized payment volume globally. Clover is a complete business management platform enabling businesses to maximize their operating efficiencies and grow while allowing customers to pay using a debit or credit card or via mobile payment options such as Apple Pay, Samsung Pay, and Google Pay.
"This complementary relationship brings a global perspective to the local market," said Steve McPhee, head of partnerships at PayBright. "Fiserv is constantly bringing innovation to merchants via Clover platform. We are thrilled to be working closely with the team at Fiserv to offer our instalment payment plans to an even wider audience of Canadian merchants and consumers."
PayBright is one of the first integrated installment payment solutions for e-commerce in-app, and in-store sales in Canada. The platform provides a unified cross-channel experience. Unlike other installment payment options, PayBright does not ask customers to sign up for a credit card and it has no hidden fees, interest, or revolving interest charges.