Everyware, a leading customer engagement, billing, and payments company, and Sunbit, the company building financial technology for everyday expenses, have joined forces to make the popular Pay-Over-Time integration available to clients, now in the form of Pay By Text where payments can be conveniently, quickly, and safely processed. The solution enables more companies to successfully sell their products and services to customers who may otherwise not choose or be able to pay all at once. Customers can now get the services they need, when they need it. Access to personalized and transparent payment plan options are applicable across multiple industries including healthcare, automotive, home services, eyecare, dental and beyond.
Seamlessly hosted within Everyware’s secure Pay By Text format, applications take only 30 seconds to complete once the customer selects Sunbit. Companies get paid quickly and can see a boost in revenue for high and small ticket items. Approved customers in-turn benefit from a three to 24-month loan option instead of having to pay all at once.
Latest Fintech News: Roc360 Further Expands its Leading Portfolio of Brands with Acquisition of Origination Assets of Civic Financial Services
“Merchants rely on payments to survive, and being able to instantly have access to them is critical,” said Everyware Founder and CEO Larry Talley. “The Pay-Over-Time option speeds up that process but in a safe and secure environment. Moving money fast is critical to success and this payment solution does just that.”
Everyware and Sunbit are helping businesses to transform their customer relationships and offerings. One such example is in the automotive ecosystem, where financing options are especially critical and surprise bills can be exceptionally high. Early demonstrations of “Auto Service Now, Pay-Over-Time” were well-received recently at the 2022 annual SEMA Show, the premier trade show for the automotive industry, with good reason. The average cost of an auto repair bill is $500 – $600 (AAA) and 6 in 10 drivers skip automotive repairs for cost reasons (xtime.com). Auto Service Now, Pay-Over-Time makes financing easy for dealerships, and customers, offering access to personalized payment plans for each approved customer with no hard credit check to apply.
Latest Fintech News: Zoe Financial Selects BridgeFT’s WealthTech API to Power Its Data Connectivity and Infrastructure
“Together, Everyware and Sunbit offer merchants and consumers incredible value, combining pay-by-text experience with the most advanced pay-over-time solution on the market. Partnerships such as these bring pay-over-time choices to exponentially more consumers, and improve bottom line outcomes for businesses,” said Sunbit VP of Platform Partnerships Oded Vakrat.
The solution also expands options in the healthcare industry, where approved patients can take advantage of the flexible payment option. With 58% of U.S. adults saying they delay or decline medical care due to cost (Morning Consult), “Care Now, Pay-Over-Time” means patients can access the care they need most from medical providers, when they need it. This is an important solution for eyewear and vision providers as well, given that 30% of Americans avoid going to the eye doctor due to cost, and 63% of Americans don’t have vision insurance (NVision).
Sunbit’s streamlined application process and ability to provide access to financing for virtually any applicant make for a perfect match with Everyware’s technology.
Latest Fintech News: OpenFin Secures $35 Million in Series D Investment
[To share your insights with us, please write to sghosh@martechseries.com]
