You can apply for a PayBright loan already at checkout at a participating merchant's store. You are supposed to get an instant real-time decision on your approval through your PayBright account in your mobile app.
If you are approved, you can choose one of the PayBright payment plans and split your purchase into several monthly installments and pay over time in the future.
You will see the interest rate and your monthly payment amount displayed on the screen before completing any transaction.
Eligibility requirements
To apply for a PayBright payment plan, you need only a credit card, an active Canadian phone number, and a PayBright account. Visa and Mastercard debit cards are accepted, while prepaid cards do not qualify as a repayment means.
Your PayBright spending limit is subject to approval based on a meticulous and swift assessment of your personal credit profile. You will be asked to provide a few details, including a government-issued ID, for the company to be able to get access to your file.
How to apply for a PayBright loan?
The PayBright application process consists of several stages:
- At checkout, select Paybright as a payment method.
- Download and open the PayBright app.
- Enter a maximum purchase amount.
- Enter your personal and contact information, such as your email address and telephone number. After that, click on the "Continue" button.
- An SMS with a PIN will be sent to your mobile phone number to verify your identity.
- Complete the order by confirming the payment plan.
Reasons for rejection
Unfortunately, you may not receive an instant approval decision and be denied a PayBright payment plan due to one or several following reasons:
- PayBright could not have gathered all the details we need about your credit file;
- Lack of solvency: A credit check showed you cannot be approved;
- The minimum purchase amount set exceeds your PayBright spending limit;
- Your history with PayBright has unsuccessful or late payments;
- The client is not a Canadian resident;
- Age less than 18 years old.