PayBright Canada Review For 2023

If you can’t afford to make upfront payments for something expensive, PayBright, a buy now, pay later (BNPL) service can help you finance the purchase by breaking it up into smaller payments.

Buy Now Pay Later services mostly have no interest payment or purchase fees. And since BNPL apps don’t report to credit bureaus, you don’t have to worry about credit score hurting with BNPL.

In this article, we will take an in-depth look at PayBight Buy Now Pay Later financial services. 

At the end of this PayBright Canada review, you can determine if the app is suitable for you or not. 

Paybright Canada

What is PayBright?

PayBright is a Canadian-based fintech company that enables consumers to pay for purchases in biweekly or monthly installments. 

With PayBright, you can make purchases and choose between interest-free payment plans over a few weeks or longer-term payment plans that may include interest charges. 

Founded in 2009, the company is on a mission to simplify everyday commerce for Canadians. Since its inception, Paybright has gained significant popularity, with over 7,000 merchants offering access to its BNPL service. 

In 2019, PayBright was named Canadian FinTech Company of the Year, and by 2021, it had an approved consumer spending power of over $1.5 billion.

In early 2021, PayBright was acquired by Affirm, a US installment loan provider, for $340 million. 

How PayBright Works In Canada?

PayBright offers instant loans to consumers online and in-store. PayBright conducts an “instant credit check” to determine the borrower’s credit limit. The company offers two loan options: 

  • “Pay in 4,” in which the loan is paid off in four installments. The first installment is due at checkout while the 3 installments are to be paid over the next 6 weeks. PayBright doesn’t charge interest or processing fees on this plan.  
  • “Pay Monthly“: PayBright’s monthly payment plan gives you the flexibility to spread your payment between 6-60 months (particularly for larger purchases). In this plan, the borrower negotiates the payment terms and must pass a credit check to determine the APR. The interest rates APR for this plan usually ranges from 0% to 29.95%. This plan also charges processing fees ranging from $1 to $4 per month.

Note: If a payment is missed on either loan option, no late fee would be charged to the borrower. However, the buyer will be restricted from further using PayBright’s payment plans until all outstanding loans are cleared 

PayBright Canada Partner Stores

PayBright has over 7,000 partner merchants that support its BNPL service. Here is a list of the most popular stores that support PayBright in Canada 

  • Samsung
  • eBay
  • Sephora
  • Wayfair
  • SAIL 
  • Hudson’s Bay
  • Dyson
  • Garage and Dynamite clothing
  • Endy
  • Taylormade
  • Bowflex
  • Shop now
  • Sleep Country
  • Moose Knuckles

The partner stores of PayBright span different sectors ranging from electronics, fashion, home & furniture, beauty & wellness, sporting goods and auto.

Is PayBright Safe and Legit?

No doubt about that! PayBright uses physical, electronic and procedural security measures to protect your information on its database.

As a BNPL service provider, the company may disclose your information only to partner institutions that need to evaluate your eligibility for the pay-after-delivery service.

With over 600,000 active users and 7,000+ partner stores including Samsung and eBay, it’s obvious that PayBright is a legitimate pay-after-delivery service provider.

What are the Penalties For Late Payments on PayBright? 

While PayBright doesn’t charge late payment fees, you would be restricted from using their payment services in the future.

Under the Pay in 4 Plan, PayBright automatically reschedules late payments that occur due to changes in credit/debit cards.

The rescheduled date can be found when you log in to your PayBright account. I advise that you reconfigure your credit/debit card details before the scheduled date 

Under the Pay Monthly Plan, PayBright automatically reschedules late payments for the next Friday until the payment clears.

If you predict missing a payment, you can contact PayBrights support here and they will consider your case extension request. 

Does PayBright Canada Hurt My Credit Score?

It depends on the plan you used and your repayment habit. Using the Pay Monthly Plan will result in a hard credit check which can impact your credit score.

The hard credit check is carried out after you have pre-qualified for the loan on PayBright’s website and you are about to checkout on the retailer’s website. 

However, the ‘Pay in 4’ plan involves a soft credit check which will not appear on your credit report. 

That being said, missing a payment with PayBright can decrease your credit score, making it more difficult or costly to qualify for loans in the future.

PayBright Canada Eligibility for Shoppers

To use PayBright as a payment option, you must create an account. But before you can create an account with PayBright, you must meet the following requirements:

  • Be at least 18 years old and a Canadian resident
  • Provide proof of identity and address, such as a recent bank statement.
  • Have an active Canadian phone number and a Canadian debit card from Mastercard or Visa. 
  • Have a valid credit history in Canada.  

If you meet the above requirements, you can visit the PayBright sign-up page to create an account.

How Does Paybright Make Money?

PayBright generates revenue through multiple streams, including interest on loans, and merchant fees. 

As noted earlier, the Pay Monthly Plan of PayBright charges between 0% to 29.95% interest rate in addition to a $1-$4 monthly processing fee.

PayBright also makes money by charging its 7,000+ stores a merchant fee. This merchant fee is common among other  BNPL apps and it’s similar to the fees charged by credit card companies.

The fees that PayBright receives from merchants typically range from 2% to 5%, depending on the specific credit card provider.

Pros and Cons of PayBright Canada

If you plan to use PayBright Canada, it is important to properly weigh the pros and cons before doing so. Let’s explore the main pros and cons of PayBright below:


  • No purchase interest or late payment fees on Pay in 4 Plans
  • Access to over 7,000 stores 
  • Flexible payment terms
  • Presence of strong customer support 


  • Interest and processing fees on monthly payment plans 
  • Require the first installment payment at checkout

PayBright vs AfterPay 

PayBright is not the only BNPL financing company in Canada. Afterpay is one of the leading ones which we’re going to stick to here.

Afterpay is a financial technology company based in Australia that provides BNPL loans for customers in Australia, Canada, and the United States.

You can borrow up to $2,000 on Afterpay. Like PayBright, there are no interest, processing fees or late payment fees with Afterpay. 

Also, you can make four equal installment payments with Afterpay, with the first payment at checkout. 

The following table demonstrates the key differences between PayBright and Afterpay.

AccessibilityOnline and in storeOnline and in-store
Number of partner stores7,000+ in Canada63,000+ Worldwide
Late payment feesN/AN/A
Approval ratesHigher than AfterpayLower than Pay Bright
Installment payments method25% of the total checkout instantly deductible  with the remaining installments paid in 6 weeks 25% of the total checkout instantly deductible  with the remaining installments paid in 6 weeks 
Loan Interest None for Pay in 4None
Supported repayment optionsVisa Debit/MasterCard Debit, Visa Credit, MastercardEFT (Void Cheque or Pre-Authorized Debit form)Mastercard, AMEX, domestic VISA (excluding Interac e-Transfer and international-issued cards)
Mobile App availabilityYesYes

Which BNPL App to Choose?

With different BNPL apps out there, it may be challenging to choose the perfect one for your situation.

So what should you keep in mind when selecting a BNPL company? Here are the key factors to consider:

  • Partner stores: The major factor you need to consider is whether your partner store accepts the Buy Now Pay Later service you are using. The more partner stores a BNPL app supports, the higher the probability of accessing your favourite stores.
  • Interest and fees: Consider the applicable interest on purchases and processing fees before deciding.
  • Spending limit: All the companies offering “buy now, pay later” services have a maximum loan limit. Considering your credit score, you should choose a provider that fits your spending habits. 
  • Repayment options: Considering how to pay back a BNPL company before using their services is important. Check the available repayment options the BNPL company offers before you begin using their services.

Learn more


While it may seem convenient to split a $100 order of sweaters into 4 easy payments, it’s important to consider whether or not you need to do this. 

If you’re trying to manage your shopping effectively, reviewing and adjusting your budget may be more helpful than increasing your credit access.

While PayBright may be a good option in some situations, it’s important to evaluate its top pros and cons discussed above.

If PayBright doesn’t suit your needs, Aftpay, Klarna or other BNPL apps could. 

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About John Adebisi

John Adebisi is a CPA, FCCA and MBA holder with a Bachelor's degree in Accounting & Finance. He has over a decade of experience in writing personal and business finance content for audiences across North America, Europe, the UK and Africa. In addition to his writing experience, he also has a strong background in financial research and analysis, giving him a unique perspective of the financial markets. John derives pleasure in helping people make smart financial decisions, and he believes that knowledge and experience can be valuable resources for anyone who wants to learn how to manage their money.

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