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PayBright: Revolutionizing How Canadians Shop and Pay

PayBright: The New Age Buy Now, Pay Later Solution

Have you ever had your eye on an expensive item you couldn’t afford in one go? Perhaps you wanted to buy a new phone, a laptop, or even a piece of furniture, but the thought of paying full price upfront was daunting.

If you’re nodding right now, you’re not alone. Fortunately, an innovative solution has emerged to make your purchases more accessible – PayBright.

What is PayBright? PayBright is the leading Canadian provider of buy now, pay later payment solutions.

It allows customers to break down their purchases into biweekly or monthly payments, making them easier to manage and more budget-friendly. With PayBright, you can make the purchases you want today and pay for them over time.

It’s that simple.

PayBright was founded in 2009 as a subsidiary of Health Smart Financial Services and received a new lease of life when Wayne Pommen took over as CEO in 2015.

With his expertise, the company pivoted to providing financing solutions, and PayBright officially launched in 2017. Fast forward to now, and PayBright has become a leading payment provider in Canada, offering its services to a vast merchant base.

Let’s take a closer look.

PayBright’s Merchant and Partner Ecosystem

PayBright has partnered with over 7,000 Canadian merchants, including some of the most recognizable brands in the country.

From electronics to clothing, customers can use PayBright to purchase items from their favorite stores. Merchants such as Adyen, Magento, and Shopify have embraced PayBright’s payment method and integrated it into their systems.

In addition, PayBright has launched a partnership program that offers unique benefits to its merchants, including custom landing pages, campaign support, and digital marketing tools. By providing a turnkey solution that merges easily into the merchant’s existing infrastructure, PayBright allows its merchant partners to expand their customer base without any disruption to their business.

PayBright’s Financing Solutions for Businesses

PayBright’s financing solution for businesses is aimed at providing e-commerce merchants with a reliable and efficient tool to offer their customers financing options. With PayBright, merchants can offer their customers a loan through a simple approval process, enabling them to offer financing options to a broader audience.

The loan approval rate is high, and the entire process is automated, providing customers with an exceptional user experience.

How PayBright Works

PayBright’s payment option is available to customers at the checkout stage of their purchase. Customers can either sign up for an account beforehand or select PayBright as their payment option during the checkout process.

If customers choose the latter option, they’ll be prompted to register for an account, which will require some personal information. Once the registration process is complete, customers will receive an invoice outlining their payment structure.

They’ll receive reminders when their payments are due, and they can manage their account through the PayBright dashboard.

PayBright’s Partnerships with Leading Brands

PayBright has partnered with some of the most popular brands globally, including Apple, eBay, JACK & JONES, Samsung, and SEPHORA.

These merchants offer PayBright to their customers as a payment option, providing them with greater flexibility and affordability. Customers can buy their favorite products from these brands using PayBright’s buy now, pay later solution without any hassle.


PayBright is revolutionizing the way we purchase high-ticket items. Brands who partner with PayBright can offer their customers flexible payment options to help them manage their finances.

PayBright also provides a secure and simple platform to merchants, who can integrate PayBright’s financing solutions into their existing infrastructures, making it easy for their customers to pay for their purchases. Since its inception, PayBright has established itself as a trusted brand and provides its customers with a reliable payment option.

If you’re looking to buy big-ticket items, consider using PayBright for a simple, budget-friendly payment plan. PayBright’s Revenue Model and Funding History

PayBright, the rapidly growing provider of buy now, pay later solutions, has been making waves in the Canadian and global market for several years.

The company has revolutionized the way customers shop and pay for high-value items, offering merchants a powerful way to increase sales, minimize risk, and maximize revenue. In this article, we’ll explore PayBright’s revenue model, funding history, and valuation, giving you a comprehensive view of the company’s impressive rise and success.

PayBright Fees for Customers

PayBright offers an attractive buy now, pay later solution that allows customers to split their payments over time, making purchases more accessible and affordable. However, customers must pay fees for the privilege.

For example, customers may face interest fees if they pay in instalments, payment processing fees, and even late payment fees if they miss their payment deadlines. PayBright also offers Pay in 4 payment plans for those who prefer a shorter payment schedule.

If a customer fails to pay their balance, they may be banned from using PayBright in the future.

PayBright Fees for Merchants

PayBright offers merchants a range of benefits, including increased sales and revenue, without incurring significant risk. However, merchants must pay transaction fees for each PayBright transaction, and these fees can vary depending on the loan amount.

Merchants partner with PayBright because the buy now, pay later solution appeals to potential customers, allowing them to buy more costly items with better payment options. Meanwhile, PayBright offers merchants improved risk assessment, minimizing exposure to bad debt and fraud.

PayBright’s Business Model

PayBright’s business model centers around partnering with merchants to help them offer their customers a simple and affordable way to pay for big-ticket items. The company aims to make shopping more accessible and affordable for customers, reducing the financial burden of making expensive purchases.

Meanwhile, for merchants, offering PayBright’s payment solution can help them attract new customers, increase conversions, and minimize risk. In this way, PayBright’s business model benefits both customers and merchants, ultimately leading to increased sales and revenue for both.

PayBright’s Funding History

PayBright was founded in 2009, but it wasn’t until Wayne Pommen became CEO in 2015 that the company began to pivot toward providing financing solutions. Over the years, PayBright has received significant venture funding from diverse investors, including goeasy, iA Financial Group, and the Canadian Business Growth Fund.

In 2019, PayBright secured C$34 million in funding in a Series B round led by goeasy, with participation from iA Financial Group and substantial family offices.

PayBright’s Acquisition by Affirm

PayBright’s tremendous success caught the attention of Affirm, the US-based buy now, pay later company led by PayPal co-founder Max Levchin.

In November 2020, Affirm announced that it would acquire PayBright for C$340 million in a cash-and-shares deal, less than a year after Grizzly S&P, a firm that invests money on behalf of several Canadian pension funds, valued PayBright at C$600 million. The acquisition marks a significant diversification of Affirm’s business, bringing PayBright’s brand and vast merchant network into Affirm’s portfolio.


PayBright is a leading provider of buy now, pay later solutions in Canada, providing customers with an affordable way to pay for high-cost items while offering merchants a reliable way to increase sales and minimize risk. PayBright’s business model is centered around partnerships with merchants and benefitting both merchants and customers alike.

PayBright’s funding history reflects its significant impact on the market, with diverse investors pouring funds into the company. Finally, PayBright’s acquisition by Affirm highlights the leading position it has established and the potential synergies with one of the global industry’s fastest-growing players.

PayBright’s Growth and Future Outlook

PayBright continues to demonstrate impressive growth year-on-year, offering consumers a flexible way to pay for big-ticket items while enabling merchants to increase their sales revenue seamlessly. The company’s success can be attributed to several factors, including partnerships with leading brands, effective advertising campaigns, and recognized success with industry awards.

In this article, we will discuss PayBright’s growth and success, challenges and criticisms, and future prospects under Affirm.

PayBright’s Growth and Success

PayBright’s growth and success are evident in the widespread partnerships it has struck with top-tier merchants.

To drive further growth, the company recently raised C$14.2 million in a financing round led by M33 Growth, a US-based growth equity firm. The funds will be used to expand PayBright’s technology platform, develop new products, and launch new marketing campaigns.

PayBright’s commitment to exceptional service delivery has been recognized with industry awards such as Deloitte Technology Fast 50, National Best Workplaces in Canada, and the Canadian Business Excellence Award.

PayBright’s Challenges and Criticisms

While PayBright has been widely praised for its role in making it easier for Canadians to afford high-cost items, it has faced criticism from some quarters who believe that the company is promoting unhealthy spending habits.

Increased scrutiny of the buy now, pay later model, particularly in the wake of the COVID-19 pandemic, has prompted some to call for greater regulation. Technical issues with the PayBright system have also led to criticism in the past, highlighting the need for the company to maintain a robust and reliable platform.

PayBright’s Future Prospects Under Affirm

PayBright’s acquisition by Affirm marks a significant move for the global fintech leader to expand its customer and merchant base. PayBright’s strong relationships with leading Canadian merchants and Affirm’s extensive customer network hold immense promise to offer increased revenue diversification.

Going forward, Affirm plans to integrate PayBright’s offerings into its payment solutions platform, creating a diverse range of buy now, pay later options available to consumers. Affirm’s acquisition of PayBright will enable the combined entity to negotiate better deals with merchants, increasing profitability for both parties.

The acquisition builds on Affirm’s international expansion efforts and strengthens its position in Canada, positioning the combined entity to lead the buy now, pay later market in North America and beyond.


PayBright has been a popular payment solution in Canada, helping merchants increase their sales while providing consumers with a more accessible and budget-friendly way to pay for expensive items. Its growth and success have been attributed to its exceptional customer service, effective advertising campaigns, and strategic partnerships with top-tier brands.

However, the buy now, pay later model has faced increasing scrutiny from critics calling for greater regulatory oversight. The acquisition by Affirm positions PayBright to build on its success, leveraging Affirm’s extensive merchant and customer networks to provide diverse and innovative payment solutions that benefit both parties.

PayBright has emerged as a leading provider of buy now, pay later solutions in Canada, offering customers a flexible payment option and helping merchants increase sales revenue. With a strong merchant base, partnerships with top-tier brands, and a commitment to exceptional service, PayBright has experienced significant growth and success.

However, challenges such as unhealthy spending patterns and technical issues warrant attention. The recent acquisition by Affirm positions PayBright for even greater growth and diversification, enabling the combined entity to leverage a diverse merchant and consumer network.

The future prospects for PayBright under Affirm’s leadership are promising, setting the stage for continued success in the expanding buy now, pay later market.

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