Best for
Merchants that desire a way to allow their customers to shop now and pay later.
Specializes in
PayBright specializes in offering Buy Now, Pay Later plans to Canadian merchants for their customers. The company accepts 100% of the fraud risk and allows two different types of payment plans for customers.
Pricing Summary
Setup Fee: Unknown
Monthly Fee: Unknown
Swipe Rate: N/A
Keyed-in Rate: Unknown
Early Termination Fee : Unknown
Contract Terms:
PayBright was founded in 2009 with the goal of creating a better commerce experience for Canadians.
The President and CEO of PayBright is Wayne Pommen.
More than 7,000 merchants have signed up to utilize PayBright’s services, and the company has approved more than $1.5 billion in sales.
PayBright is not a merchant account provider. Rather, this company offers a Buy Now, Pay Later program to merchants in Canada, which they can offer to their customers.
This company was founded in 2009, and its president and CEO is Wayne Pommen. In 2019, PayBright was made FinTech Company of the year. The company has more than 7,000 merchants that have signed up to use its services and has completed more than $1.5 billion in sales.
PayBright actively seeks merchants to bring on as customers for the purpose of empowering them to offer their customers Buy Now, Pay Later as a payment option.
PayBright provides another payment alternative for merchants that may help increase their sales conversions and volume.
Head Quarters
155 Wellington St W Suite 3740, Toronto, ON M5V 3H1, Canada
Year Founded
2009
CEO
Wayne Pommen
Employees
52
Merchant Provider Risk Tolerance
Open about terms and pricing.
Offers Buy Now, Pay Later system for customer transactions.
No monthly or yearly fees charged to merchants.
Setup takes a few minutes.
Customer applications can also be processed fast enough to work at checkout.
Does not provide a POS system.
No value-added services.
Accepts very limited payment types.
Not an actual merchant processing company.
Only available in Canada.
Hardware & Software
PayBright offers software that seamlessly integrates with a merchant’s current payment processing system. This company does not offer its own POS systems or payment gateways. The PayBright website lists the following platforms:
Shopify
Magento 2
WooCommerce
LightSpeed
Salesforce
iOS SDK
Android SDK
Value Added Services
PayBright does not offer any additional, value added services.
Supported Payment Types & Services
When a merchant sells a product or service to a customer who chooses PayBright, that customer has the option of paying for their purchase on one of two plans. They can opt to pay in four biweekly payments, or for larger purchases, they can pay monthly for six to sixty months.
PayBright accepts the following methods of payment:
Visa
Mastercard
Debit cards (Visa or Mastercard only)
EFT payments
The following methods of payment cannot be used:
Capital One credit cards
PayPal
Online bill payments
E-transfers
Pre-paid credit cards
Mailed checks
American Express
Discloses All Important Terms
No
Public Pricing Available
No
PayBright includes information about its pricing and fees directly on its website. The company offers two different payment plans for merchants’ customers.
Pay in 4 Plan - Customers make four bi-weekly payments. These plans have 0% interest and there are no processing fees.
Equal Monthly Payment Plan - This plan may include a term length of anywhere from three to sixty months. The interest rate for this plan can range from 0% to low or regular interest.
PayBright charges its merchant customers transaction fees only if the merchant chooses to offer a promotional interest rate to their customers. This might include 0% or low interest financing.
The company does not charge a monthly or yearly fee to merchants and there are is no minimum amount of transactions required.
Pricing Model
Unknown
Swiped Rate
N/A
Keyed-in Rate
Unknown
Mobile Payment Rate
Unknown
Virtual Terminal Rate
Unknown
Monthly Fee
Unknown
Payment Gateway Fee
Unknown
Batch Fee
Unknown
Early Termination Fee
Unknown
PCI Compliance Fee
Unknown
Equipment Lease Terms
Unknown
Address Verification Service (AVS)
Unknown
Application Fee
Unknown
Account Setup Fee
Unknown
Gateway Setup Fee
Unknown
Annual Fee
Unknown
Monthly Minimum
Unknown
Statement Fee
Unknown
Merchants that are interested in offering PayBright payment options to their customers can access the entire Global Merchant Agreement on the company’s website. This agreement is available in English and French.
Contract Length
Unknown
Early Termination Fee
Unknown
Merchants that wish to integrate with PayBright can do so by filling out the company’s sign-up form. The company will contact the merchant right away and setup can be completed in just a few minutes.
Merchant’s customers who choose to use a PayBright payment plan for their purchases can apply during the checkout process and receive an almost immediate response regarding their approval.
The PayBright website offers a helpful FAQ page for merchants to get their questions answered. Merchants can also submit a contact form with any questions they have. There is no dedicated phone number for sales or technical support available on the PayBright website.
BBB Rating
There are two listings for PayBright on the Better Business Bureau website, but it is not clear if those listings are for the Canadian company because they have addresses in the United States. Because of this, it seems as though this company is not listed on the BBB website.
Other Online Reviews
PayBright has a 4.6-star on Google with more than 6,000 reviews, and most of them are from merchant’s customers and not from the merchants themselves.
Overall, people seem to be very pleased with the PayBright service. They mention quick approval, low interest rates or no interest at all, and excellent customer service in their reviews.
There are also several other reviews available online for PayBright, and reviewers highlight the same benefits.
BBB
N/A
4.6 Stars / 6275 Reviews
N/A
Yelp
N/A
Total Online Reviews
6330+
Total Online Complaints
156+
Lawsuits
Unknown
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