The solution looks to enable an increased number of companies to successfully sell their products and services to customers who might otherwise not choose to or be able to pay for everything at once.
Based on the information provided in the press release, the product looks to help customers get the services they need whenever needed, with access to personalised and transparent payment plan options being available across multiple industries of the likes of healthcare, automotive, home services, eye care, dental and beyond.
Hosted within Everyware's secure Pay By Text format, applications take 30 seconds to complete once the customer selects Sunbit. Companies are enabled to get paid in an expedited manner and see an increase in revenue for high- and small-ticket items, and in turn, approved customers can leverage a three to 24-month loan option, as opposed to having to pay in full at once.
Commenting on this, Everyware Founder and CEO Larry Talley stated that merchants rely on payments to activate, and being able to have instant access to them is believed critical. Per their statement, the Pay-Over-Time option helps expedite the process in a safe and secure environment, as moving money fast is a requirement for success, and the payment solution looks to help achieve that.
Per the announcement information, Everyware and Sunbit aim to support businesses in transforming their customer relationships and offerings, exemplifying the automotive ecosystem where financing options are believed to be especially important. Sunbit VP of Platform Partnerships, Oded Vakrat, added that the companies provide merchants and consumers with great value, combining the pay-by-text with an advanced pay-over-time solution, stating that such partnerships bring pay-over-time choices to an increasing number of consumers, and help better bottom line outcomes for businesses.
A customer engagement, billing, and payments company, Everyware provides services to over 2,000 merchants throughout multiple verticals such as healthcare, travel, utilities, not-for-profit, and automotive. The platform offers a simple, fast, and secure way to move money while improving the merchant’s ability to communicate with customers in real time with text messaging. The company looks to help them save money by bettering cash flow and decreasing paper billing costs, chargebacks, and fraud.
Sunbit provides a next-generation no-fee credit card that can be managed through a mobile app and as a point-of-sale payment option available at over 19,000 service locations, including auto dealership service centres, optical practices, dentist offices, veterinary clinics, and speciality healthcare services.
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