NEW YORK & SUNNYVALE, Calif.--(BUSINESS WIRE)--Quadpay, a Zip company (ASX: Z1P), a global payment technology pioneer that gives consumers a simple, transparent, and financially responsible alternative to traditional credit cards, today announced a new partnership. ChargeAfter, the leading network of personalized point-of-sale consumer financing options for merchants, will add Quadpay and Zip’s Buy Now, Pay Later installments to its portfolio of consumer financing lenders and options for online and in-store shopping.
“We are thrilled to bring installment payments to ChargeAfter’s merchant network - in-store and online,” said Quadpay Co-CEO Brad Lindenberg. “Buy Now, Pay Later empowers retailers to provide their customers with flexibility to pay over time, which ultimately fosters customer loyalty, increases conversions and a better customer experience.”
ChargeAfter is the market-leading BNPL network that connects retailers and lenders to offer consumers personalized point-of-sale financing options during shopping and at checkout from multiple lenders including Quadpay and Zip globally. Merchants on the ChargeAfter platform include leading iconic national retailers across home appliances, furniture, mattresses, consumer electronics and automotive, amongst other verticals.
“As we continue to build the leading Buy Now, Pay Later financing network, we’re always looking for innovative financing products that can be used by global merchants to help them sell more, and provide consumers with more control over their spend,” said ChargeAfter CEO Meidad Sharon. “Consumers and merchants alike are increasingly demanding flexible payment options, and we believe that this partnership is another step towards our continued effort to further democratize credit, while placing the power of payment options back into the hands of the consumer. We are creating the next wave of credit.”
Through this partnership, ChargeAfter will enable merchants to offer Quadpay’s and Zip’s transparent “pay in 4” installments product using ChargeAfter’s one step financing application. Consumers can split purchases into four payments with no tricks or hidden fees. There is no hard inquiry to the consumer's credit record and consumers are approved on a case by case basis. The approval process is fast and consumers can set up automatic deductions from their debit or credit card. An initial payment equal to 25 percent of the total purchase price is due to complete the transaction. Merchants that have implemented Quadpay for e-commerce have often seen a 20 percent increase in conversions and 60 percent increased average checkout value.
About Quadpay, A Zip Company
Quadpay, A Zip Company (ASX Z1P), is a leading US-based installment payment 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 millions of customers to pay in four installments over six weeks. Quadpay is part of ASX-listed Zip Co. Limited global operations across Australia, New Zealand, South Africa, the United Kingdom and the US. The company’s market-leading app enables seamless integration for merchants and the ability for customers to shop online and in-store, not just with Quadpay’s thousands of integrated merchants, but with leading global retailers. For more information, visit: www.quadpay.com.
About ChargeAfter
ChargeAfter is the leading multi-lender buy now pay later financing platform connecting retailers and lenders to offer shoppers personalized financing options.
With its data-driven decisioning engine and network of global lenders, ChargeAfter delivers the most relevant financing offers to consumers from multiple lenders based on credit type – resulting in credit approvals for up to 85% of customer applications. ChargeAfter streamlines the distribution of credit into a single platform that retailers can implement swiftly both online and in-store. The company’s growing lender network offers seamless integration to lenders seeking to grow their customer base while expanding into new retail markets.
ChargeAfter investors include Visa, MUFG, BBVA, Synchrony Financial, Propel Venture Partners, PICO Venture Partners and Plug and Play VC and.
Headquartered in Sunnyvale, California, ChargeAfter has offices in Atlanta, Dallas, New York, and Tel Aviv. For more information, visit: https://chargeafter.com
