PayBright, owned by San Francisco-based financial technology company Affirm, provides Canadian citizens with a buy-now/pay-later option for online and in-store transactions. PayBright has partnered with more than 7,000 retailers from around the world to make buy-now/pay-later a pain-free experience.

Canada’s first buy-now/pay-later transaction was powered by PayBright in 2017, and has since empowered Canadians with over $3 billion in purchasing power. In 2019 PayBright was voted Canada’s Fintech Company of the Year by the Digital Finance Institute.

PayBright lets merchants accept payments on their website and apps, as well as in-store. Once you have enrolled in the program, you will be assigned a dedicated account manager who will help you set up an account on PayBright’s secure website. From there, all you need to do is link your bank accounts and credit card accounts so they can process payments quickly and accurately each time someone makes a purchase using one of these accounts (which PayBright calls "funding sources"). 

The amount due from each purchase will then be automatically deducted from one of these funding sources and deposited into your business account, typically within 24 hours after each sale takes place.

For consumers making smaller purchases, PayBright's buy-now/pay-later plans start at 4 biweekly payments with no interest. For larger purchases, the payment plans might extend as long as 60 months (5 years!), are due monthly, and are charged interest.