Sunbit has generated more than 2M loans through in-person transactions
LOS ANGELES, June 28, 2023 /PRNewswire-PRWeb/ -- Sunbit, the company building financial technology for everyday expenses, announced its point-of-sale technology is now available in more than 20,000 brick-and-mortar locations in the US, including nearly 40% of auto dealerships service centers and nearly 9,000 dental locations. By helping the broadest swath of Americans handle key unexpected expenses, Sunbit has become a marquee offering for auto dealerships and dental locations. As of Q2 2023, Sunbit has generated more than 2M loans through in-person transactions. Sunbit's expansion is a direct result of merchant and consumer adoption, a significant number of industry endorsements, and technology integrations with popular SaaS platforms.
"Sunbit's point-of-sale technology shines in real-world moments, where relationships are built, and unexpected expenses can be a stress. Offering access to a fair, accessible, and no fee pay-over-time option that stands to benefit virtually everyone is an enormous responsibility and a privilege," said Arad Levertov, CEO, Sunbit. He added, "Sunbit plays a vital role in helping consumers feel more comfortable in the face of critical, but high-value, recommendations."
With Sunbit technology, virtually every applicant is approved in 30 seconds. Of consumers who are offered a 0% interest offer, more than 30% accept. All of Sunbit's 0% interest loans are true no-interest. Consumers only pay what they agree to at the point-of-sale, and there are never any hidden fees or terms.
Sunbit's technology powers transparent and favorable loan terms, which is why over 60% of people who see their options move forward with taking a payment plan. In addition, 30% of current customers are repeat customers. The company's high Net Promoter Score ("NPS") of 82 is a testament to customer satisfaction with personalized offers, 24/7 US-based support, and no late fees, penalty fees, or origination fees.
Based on consumers' enthusiastic adoption of Sunbit, merchants realize better financial performance. Today 130,000 professionals have been certified by Sunbit and are offering Sunbit's point-of-sale technology to their customers.
Over the last 12 months, Sunbit's direct relationships with merchants have been augmented by significant technology integrations, as verticalized software solutions enthusiastically integrate pay-over-time options into their platforms. Today, these integrations include Xtime, Quik, UpdatePromise, Tekion, TruVideo, DealerTire, Weave, Workiz, Shepherd, Kenect, Zuub, and Everyware. And, in dentistry, where industry organizations hold significant influence, Sunbit's endorsements include Straumann, Dental Whale, Dental WOW, and DHP.
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About Sunbit
Sunbit builds financial technology for real life. Our technology eases the stress of paying for life's expenses by giving people more options on how and when they pay. Sunbit offers a next-generation, no-fee credit card that can be managed through a powerful mobile app, as well as a point-of-sale payment option available at more than 20,000 service locations, including auto dealership service centers, optical practices, dentist offices, veterinary clinics, and specialty healthcare services. Sunbit was included on the 2022 Inc. 5000 list. The financial technology company has also been named a Most Loved Workplace®, Best Point of Sale Company, A NA. Deloitte Technology Fast 500 company and a Top Fintech Startup by CB Insights.
Loans are made by Transportation Alliance Bank, Inc., dba TAB Bank, which determines qualifications for and terms of credit. The Sunbit Card is issued by TAB Bank, pursuant to a license from Visa USA Inc. Use of the card is subject to the cardholder agreement.
Media Contact
Briget Stasonis, for Sunbit, 813-300-2905, bridget@renderstrategies.com
SOURCE Sunbit
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