Lorex Technology adds new PayBright payment option to help Canadians buy now, pay later
TORONTO: PayBright, Canada’s leading provider of installment payment plans, today announced its partnership with Lorex. With this move, Canadians investing in secure and smart home and business monitoring systems on lorex.com, now have the option to pay over time in easy biweekly or monthly installments, with select plans starting at 0%.
According to a recent report by Global News, buy now, pay later (BNPL) services are growing in popularity in 2020 as Canadians make more use of them to pay for purchases both large and small. To meet this increased consumer demand and expectation for installment payment options, Lorex is committed to offering customers the flexibility to pay for secure, high-quality, accessible smart monitoring solutions at a pace that works with their budget.
“When it comes to smart home and business monitoring, we know the importance of providing our customers with options to help them to find a solution that best suits their needs,” says Steve Hong, Vice President of E-Commerce at Lorex. “With this principle in mind, partnering with PayBright was an easy decision. Providing our customers with payment options enables us to offer our customers even more flexibility and makes our products accessible to more Canadian consumers.”
Lorex joins a growing list of Canadian electronics retailers offering PayBright’s popular buy now, pay later option at checkout. To date, more than 7,000 domestic and international merchants offer PayBright’s Pay in 4 or Monthly plans to consumers shopping in the electronics, home goods, fashion, and sporting goods industries.
“Making Lorex’s smart home monitoring products more accessible with our flexible payment plans is what PayBright is all about,” said Wayne Pommen, President and CEO, PayBright. “PayBright is proud to partner with Lorex to ensure more Canadians can pay over time for the cutting-edge security technologies they need right now. We welcome Lorex to our growing Shop Directory of retailers who already see the benefits of offering PayBright to consumers.”
PayBright was the first integrated installment payment solution for e-commerce, in-app, and in-store sales in Canada, providing a unified omnichannel experience. Unlike other installment payment options, PayBright does not require consumers to sign up for a credit card and does not charge hidden fees, retroactive interest, or revolving interest charges.