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30 November 2020

Help your customers gift now, pay later with LendCare

It’s starting to feel a lot like Christmas…

With that being said, COVID-19 is bound to make Christmas feel a lot different this year. With many provinces and cities heading back to lockdown status, and retail stores being forced to shut down, many consumers will not be shopping in-store this season.

Online sales and reduced budgets

Statistics Canada says that 2020 is on track to beat 2019’s total e-commerce sales of $305 billion. With the lack of retail stores being open throughout the country, it’s quite apparent that online sales will be this year’s go-to for gift purchases. At the same time though, the financial constraints and job-losses plaguing Canadians, due to the pandemic, might render consumers more cash-strapped than in previous years.

A recent PWC survey of 1,000 Canadians, revealed that 57% of respondents said the pandemic has had a negative impact on their spending capabilities. This means that businesses need to focus on providing their customers with cost-effective ways to get into the giving spirit of the season, without blowing their budget.

Gift now, pay later

According to PayPal, the number of buy now, pay later transactions increased by 39% in 2019 and is expected to double by 2023. The buy now, pay later model isn’t anything new, but the demand for these services always increases when the economy is facing uncertainty. Giving your customers the option to break up the cost of their purchase with affordable installment payments can greatly increase your revenue this holiday season.

LendCare has supported over 6000 business partners across Canada, by providing flexible payment plan solutions for over 12 years. Using our newly launched, FrontLine technology, we offer a completely online financing process with express approval status decisions that you can integrate directly into your website’s checkout experience.

Financing applications can be accessed right on your website, or can be texted/emailed, directly to customers. The application can be filled out on any device and takes only minutes for a customer to complete. Customers can also verify their identity, simply by scanning their ID and taking a selfie. Your customers sign everything digitally, make their purchase on-the-spot, and then LendCare transfers the funds, directly into your bank account.

We provide financing for retail purchases, cosmetic procedures, veterinary services, and so much more. With the holiday season quickly approaching, there is no better time to sign up for FREE with LendCare, and ensure that even customers with limited funds can afford to get into the gift giving spirit this Christmas. To learn more about our quick and easy online financing solutions, or to sign up today, head over to our FrontLine for businesses page to get started!

LendCare to be acquired by goeasy Ltd.

LendCare to be acquired by goeasy Ltd.

On April 12, 2021, we announced that LendCare has entered into an agreement to be acquired by goeasy Ltd. goeasy is one of Canada’s leading providers of non-prime leasing and lending services offering a wide variety of financial products that help put Canadians on a path to a better financial future.

We are excited about what this strategic acquisition means for LendCare, our employees, customers and our partners. We will continue to build on the incredible growth we have achieved to date and accelerate our growth strategy as goeasy makes investments in the LendCare business.

LendCare will continue to operate as it does today, so there are no changes to how you work with us. Our existing leadership team will remain in place and you will continue to work with the team as you always have, business as usual. Our teams will continue to provide the high level of support you are used to receiving.

Read more about this announcement.