TORONTO, May 3, 2019 – Steve Madden, a leading designer and marketer of fashion footwear and accessories, today announced a partnership with PayBright to offer an interest-free installment payment option for Canadian e-commerce shoppers. Toronto-based PayBright is Canada’s leading provider of installment payment solutions for e-commerce purchases.
“We are excited to be launching an installment payment solution for Canada through PayBright,” said Jeff Silverman, President – Global E-Commerce at Steve Madden. “We have seen strong results and positive customer feedback from offering pay-later payment options in other markets, and we’re delighted to now have this available for Canadians.” PayBright’s bi-weekly interest-free installment payment option is now available for shoppers visiting Steve Madden’s Canadian e-commerce store.
PayBright has partnered with over 4,300 domestic and international merchants, allowing 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 other orders. Overall, offering installment payments drives significantly higher revenue per visitor.
“We’re delighted to offer a quick and easy installment payment option for Steve Madden’s Canadian customers and to enhance the ecommerce checkout experience,” said Wayne Pommen, President & CEO of PayBright. “This partnership also allows us to bring a leading international fashion and apparel retailer to our fast-growing base of PayBright accountholders.”
PayBright was the first installment payment solution for e-commerce sales in Canada, and is partnered with leading merchants including Wayfair, Casper, Endy, Peloton, and now Steve Madden. PayBright also offers installment payments in-store, providing a unified omnichannel experience.
PayBright provides consumers with virtual credit accounts they can use to make purchases at participating merchants. Each purchase is paid for with a straightforward, easy-to-understand installment payment plan. Unlike other installment payment options, PayBright does not require consumers to sign up for a credit card and does not charge hidden fees or punitive interest rates.