The partnership combines cloud-based financing with “Buy Now, Pay Later” payment plan technology to bring more payment options to consumers
NEW YORK--(BUSINESS WIRE)--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.”
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.