Fairstone Financial Inc. chooses REPAY to offer SMS repayment options for loans
ATLANTA – (COMMERCIAL THREAD) –Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically integrated payment solutions, partners with Fairstone Financial Inc. (âFairstoneâ), Canada’s leading provider of responsible lending solutions for high-risk borrowers, to enhance the Fairstone customer experience through REPAY’s opt-in SMS payment technology. Matching the growing preferences of Fairstone customers for mobile and contactless payment options, REPAY’s payment solutions will provide customers with even greater loan repayment flexibility, including using the global Visa and Mastercard networks.
Making loan payments via mobile SMS is easy and secure. Using a single payment link sent by text or email, customers can make debit card payments through any mobile device. Once the initial registration and authorization process is complete, all subsequent loan payments can be made via SMS with tokenized card details which are stored securely, providing continued convenience to customers.
With deep experience and expertise in the alternative finance industry in Canada, REPAY provides personalized payment technology to lenders and their borrowers. Providing a reliable, PCI-compliant payment platform, REPAY’s solutions can help Fairstone deliver more convenience to customers and reduce the overall complexity of accepting electronic payments through the expansion of payment methods. automated self-service payment.
âWe are committed to continuing to improve the satisfaction of our customers’ mobile preferences with an opt-in SMS payment option,â said Grant Wyard-Scott, Executive Vice President, Direct Lending at Fairstone. âWe are constantly on the lookout for innovative technologies to serve consumers, while maintaining the exceptional experience they expect from Fairstone throughout their customer journey. With its market leadership and repayment technology, REPAY was a natural fit as a trusted partner to further our mission of providing the best borrowing experience with more contactless payment options.
âSmart lenders and businesses are always looking for ways to further improve their customer experience, and it is clear that the market is increasingly favoring contactless mobile payment options for flexibility and convenience,â added Susan. Perlmutter, Director of Revenue at REPAY. âBy offering SMS payment options to its customers, Fairstone can confidently respond to their mobile payment requests to improve the customer experience and achieve their business goals.
About Fairstone Financial Inc.
Fairstone Financial Inc. is Canada’s leading provider of responsible lending solutions for sub-prime borrowers with over $ 3 billion in assets on a consolidated basis. Fairstone, including through its predecessors, has provided Canadians with access to responsible credit for almost 100 years. The Company has two key lines of business: direct lending to consumers through its branch network and online; and the financing of consumer car and retail purchases through retailers and dealers. Based in Montreal, Fairstone is an operating subsidiary of Duo Bank of Canada and is ranked among Montreal’s Top Employers for 2021. More information at www.fairstone.ca.
TO REIMBURSE provides integrated payment processing solutions to industry verticals with specific transaction processing needs. REPAY’s proprietary integrated payment technology platform reduces the complexity of electronic payments for merchants, while improving the overall experience for consumers and businesses.