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.
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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.”
