Benzinga | May 25, 2021 09:15AM EDT

Newegg Says Teams Up With Quadpay To Power Buy Now, Pay Later Installment Payments Reaching Customers In More Than 80 Countries

Quadpay, a Zip Company (ASX:Z1P), the fastest growing Buy Now, Pay Later company in the U.S., announced today a partnership with Newegg Inc. an online retailer of computer hardware and consumer electronics. The partnership will give Newegg access to Quadpay's innovative Buy Now, Pay Later installment payment service.

Newegg, whose name invokes the egg as a symbol of birth and unlimited potential, is the leading tech-focused e-retailer in North America with a global reach in Europe, Asia Pacific, Latin America and the Middle East. Founded in 2001, the company offers its more than 40 million registered customers a comprehensive selection of the latest consumer electronics, as well as entertainment, smart home and gaming products.

Newegg offers competitive pricing with a firm commitment to on-time order fulfillment. The e-retailer empowers customers to make the best purchasing decisions by offering detailed product information, peer reviews, expert opinions, product tutorials and the opportunity to network with other members of the Newegg community. Customer satisfaction is Newegg's top priority, which it achieves by delivering superior service and putting the customer first.

Today's announcement is part of Newegg's strategy to build out the capabilities and services of its global digital ecosystem to offer customers a broad spectrum of payment options to quickly and affordably purchase products online.

Quadpay Co-CEO Brad Lindenberg said, "We are still seeing a growing demand in eCommerce shopping for the home and home office, even as people return to the workplace. With more smart home purchases and tech appliances for their home offices, Newegg can provide shoppers with all their tech needs. We are thrilled to be partnering with Newegg to offer their customers a simple and flexible way to pay for these every-day purchases over time."

Quadpay lets consumers split any purchase into four interest-free installments paid over six weeks using their existing credit card or debit card when they shop online or in-store.

"The success we enjoy as a company is made possible thanks to strong collaboration with our extensive network of partners and service providers," Montaque Hou, Chief Technology Officer of Newegg, said.

"At Newegg we take an innovative approach to leveraging existing technology and platforms, while keeping sight of the future and emerging technologies to make Newegg the best site with the greatest shopping experience. As we continue to find new ways to expand the purchasing choices for our customers, we are pleased to partner with Quadpay to offer a new flexible payment option that will enable customers to affordably purchase the products they want from us," he said.

Newegg joins Quadpay's network of integrated merchants and global retailers. Within days of implementing Quadpay, merchants typically see an increased conversion rate up to 20 percent, and average order values increase up to 60 percent.