BUY NOW. PAY LATER.
The Payment Solution for Tomorrow’s Largest Spending Segment.
As one of the fastest-growing fintech retail payment innovators in the US, QuadPay is forging the future of purchase payment for the 80+ million millennials that currently account for almost 30% of all daily per-person consumer spending, projected to reach $1.4 trillion of collective spending power by 2020.
QuadPay empowers consumers with the option to pay for their purchases in four equal and interest-free installments over six weeks; the customer gets the product upfront while QuadPay’s brand partners are paid immediately. As the millennial population enters their prime spending years with less than 50% having access to credit, QuadPay is disrupting the field of payment solutions as the most innovative provider of affordable purchase in North America — buy now, pay later.
Adam Ezra, Co-Founder of QuadPay, said the key to QuadPay’s rapid success has been focusing on building the most consumer-centric payment option in market. “Traditionally, companies offering installment payments have focused on making money from the consumer, either by charging APR or claiming to be interest free while charging punitive late fees. When we set up QuadPay, we had one ambition: to always put the customer first.”
This prioritization of transparency and consumer benefit has been a major contributor to QuadPay’s rapid growth since their US launch in February. The first three days of October saw the processing of more transactions through their platform than in the first three months of operation, clearly demonstrating the previously unmet demand for a fair and affordable payment solution. Looking ahead, QuadPay is forecasting that it will facilitate more than $20m in sales over the coming Black Friday and Cyber Monday shopping period.
For Johannes Quodt — co-founder of the fast growing, millennial-focused brand Koio — unlocking new customers is critical in the highly competitive ecommerce industry. “There’s no question that for a large number of our customers, using QuadPay is the difference between making or delaying a purchase. Since offering QuadPay as a payment solution we’ve seen AOV and conversion both increase noticeably, all with zero risk to us.”
Similarly, Katie Grose, Head of eCommerce at leading fashion brand For Love & Lemons, was surprised by the level of latent demand there was for QuadPay. “"When our customers realize there are no strings attached and it’s completely free to use the platform, the uptake was dramatic. It’s not uncommon for QuadPay to be processing 15% of all of our payments - which is close to the same percentage as PayPal.”
QuadPay will launch with a selection of new enterprise clients in Q4 of 2018, including one of the largest shoes brand in the US and eBags.com, part of The Samsonite Group and the largest online retailers of bags in the US, with brands including Patagonia, Under Armour, Nike and The North Face.