QuadPay, a payment installment platform, has partnered with online payments company Stripe, to deliver advanced buy-now-pay-later option for its customers.
The buy-now-pay-later option, which is powered by Stripe’s issuing infrastructure, enables consumers to start shopping in installments anywhere Visa is accepted.
Powered by Stripe Issuing, the QuadPay app is said to provide the consumers with a balance of up to a $500 on Apple Wallet or Google Pay to spend either online or in-store.
Following an instant verification process, consumers will be issued with a virtual QuadPay card to be used with their phone and make payment for an order, which will be converted into four interest-free installments over six weeks.
QuadPay accelerated time to market for new product line with Stripe
By partnering with Stripe, QuadPay was able to speed up time to market for its new product line, without needing to partner with a separate providers, and avoid up-front costs and operational overhead.
Along with issuing, Stripe would also deliver payment acceptance for QuadPay installments, offering a closed loop experience that prevents fraud.
QuadPay is also leveraging machine learning-enabled fraud tools with Stripe Radar, to prevent fraud and manage risk at a granular level.
Radar is said to enable QuadPay manage risk by product, installment type and other factors.
QuadPay CEO Brad Lindenberg said: “With Stripe we’re making it easier for brands to access more consumers. And for consumers, the beauty of it is that it doesn’t matter where you shop—at any brand, online or offline—QuadPay gives you the flexibility to spend how you want.”
“With Connect Express’s pre-built onboarding flows, we were able to set up payouts for our merchants surprisingly quickly. We’re excited to use it to make the onboarding process entirely self-serve in the near future and expand into Canada and the UK, which will accelerate the rate at which global brands can join QuadPay.”
