PayBright to be Acquired by Affirm


Wayne Pommen

December 03, 2020

We built PayBright with a mission to give fellow Canadians a better way to pay for the things they love through our innovative buy-now-pay-later solutions. Today, PayBright is one of Canada's leading providers of installment payment plans for e-commerce and in-store purchases, and we’re excited to tell you what’s next.

We have reached an agreement to be acquired by Affirm, one of the leading payment solutions providers in North America and a pioneer in our industry. So what does this mean for our consumers and merchant partners?

The combination of Affirm and PayBright unites two innovators with complementary merchant relationships, a similar product approach, and deeply aligned cultural values, creating a payment solutions platform with expanded scale and reach.

By joining forces, we will offer our consumers flexible payment plans at an even larger network of leading merchants across the United States and Canada. For merchants, we can provide new support for cross-border commerce, new partner integrations, and the benefit of a combined product roadmap. Both companies also believe strongly in an all-channel approach that serves consumers online, in-store, in-app, and anywhere else they shop.

Perhaps most importantly, Affirm and PayBright share common values, including our belief that simplicity, transparency, and putting people first are the keys to building enduring and trusted relationships with our consumers and merchants.

The good news is, you don’t have to do anything. It is business as usual for our existing merchants, consumers, and channel partners. Between now and the close of the transaction, which we expect to occur in the first quarter of calendar year 2021, both companies will continue to operate independently. As we move forward, we’ll be sharing details about new product offerings and capabilities that will help merchants grow their businesses, and make life easier for consumers who take advantage of our payment solutions.

This combination with Affirm, a leader in our industry, is a great recognition of the value we offer our merchants and consumers, as well as the incredible people who make up the PayBright team. We wouldn’t be where we are today without our employees, our consumers and our merchant partners.

Thank you for the confidence you have placed in PayBright. We are extremely excited to embark on this new chapter, and we’re excited about the possibilities to continue making the everyday commerce experience simply better for Canadians.

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Wayne Pommen

President and CEO, PayBright

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