Bread Financial, a tech-forward financial services company that provides simple, personalised payment, lending and saving solutions, has announced it will offer installment loans through PayTomorrow, a financial technology company that provides a premier waterfall financing platform.
PayTomorrow’s single source platform uses a multi-lender approach to provide customers with accessible and affordable financing options. Participating merchant and retail partners integrate the PayTomorrow platform at the point of sale, giving customers access to multiple installment loan providers, including Bread Pay, as well as Lease-to-Own and Lease-to-Loan providers. Additionally, the platform is available both online and in-store, allowing customers more flexibility across financing options and shopping channel of choice.
“Bread Financial is proud to be working with PayTomorrow to give retailers more options for their customers to seamlessly finance their purchases,” said Val Greer, Executive Vice President and Chief Commercial Officer, Bread Financial. “We have data indicating nearly half of consumers have abandoned purchases because a retailer didn’t offer a preferred type of financing so having these options at the point of sale is critical for brands. We are pleased about this latest move to further diversify our product mix by offering our Bread Pay installment loans through the PayTomorrow platform and look forward to working together to help drive our mutual success.”