Consumer Lender PayBright Lauches E-Commerce Instant Financing Solution in Canada

Consumer lender PayBright today launched an instant consumer financing for online purchases feature in Canada, just in time for the holidays.

PayBright started out this new financing solution as a three-month pilot. Following a successful trial, PayBright said it has already approved over $5 million per month in credit for consumer shopping. The feature is the first of its kind in Canada, according to reports.

The fintech has already been a success in the Canadian market in its core business of providing financing solutions for in-person purchases at more than 2,500 merchants in the country. So far it has approved over $250 million in consumer credit.

Wayne Pommen, CEO of PayBright, said in Tuesday statement:

We’re delighted with the launch of our e-commerce solution, which fills a key gap in the Canadian marketplace. While instant financing for online shopping is available in the U.S. and other countries, Canadian retailers and consumers have not had access to it – until now. The results so far have exceeded our expectations and the feedback from merchants and consumers has been very positive.

Read more at Finextra and MarketInsider.