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Stripe Partnering with QuadPay Offers New Buy Now, Pay Later Option

May 08, 2020 / Nilesh Kumbharkar
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  • Stripe will partner with QuadPay for the payment installment platform’s new buy now, pay later option.

  • Using a QuadPay card on their phone, the customer will then pay back the money they spent in four interest-free installments over a period of six weeks.

  • The QuadPay app will work with Stripe’s Connect Express service.


Stripe will partner with QuadPay for the payment installment platform’s new buy now, pay later option that lets customers access up to $500 to shop at a large variety of businesses, Stripe announced Thursday (May 7).

The QuadPay app gives consumers a balance of up to $500 on Google Pay or Apple Wallet, for spending online or in a store. Using a QuadPay card on their phone, the customer will then pay back the money they spent in four interest-free installments over a period of six weeks, Stripe said.
 

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Stripe Issuing, which recently launched out of beta, will power QuadPay, which can be used anywhere Visa is accepted, and the option to buy now and pay later tends to boost sales by 20 percent, according to the company.


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.

- Brad Lindenberg, CEO, QuadPay.

The QuadPay app will work with Stripe’s Connect Express service, per the announcement. Stripe listed Fashion Nova, Jenni Kane, Swell and Ugg among the brands that use Connect Express. The company said brands will see more orders overall with QuadPay and Stripe services.

Lindenberg said he wants to make the onboarding process for retailers completely self-serve in the future.

Aside from issuing, Stripe also provides payment acceptance for QuadPay installments, with closed-loop system to protect against fraud, the firm said. Stripe is also utilizing its Radar program to prevent fraud in other, more precise ways, using metadata to block transactions and helping QuadPay reduce risk through specific products, installment types or other factors.
 

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Lindenberg added that the company plans to expand into Canada and the U.K. in the future, too, which he said would only help more brands boost their sales.

Buy now, pay later options have been cropping up more in recent years, the form proving lucrative since it does away with the traditional metrics of determining whether someone is worthy of credit.
 

About QuadPay

At QuadPay, we want to transform the way shoppers pay for their purchases. We believe in choice and in giving shoppers the freedom and flexibility to manage their purchases in the way that best suits their finances. QuadPay’s payment platform gives shoppers the choice to pay for their purchases via 4 simple, interest-free installments. QuadPay is a platform built for shoppers, that empowers you to buy now, pay over-time and avoid interest repayments.
 

About Stripe

Stripe is a technology company that builds economic infrastructure for the internet. Businesses of every size—from new startups to public companies like Salesforce and Facebook—use the company’s software to accept online payments and run technically sophisticated financial operations in more than 100 countries. Stripe helps new companies get started and grow their revenues, and established businesses accelerate into new markets and launch new business models. Over the long term, Stripe aims to increase the GDP of the internet.