Shantel
Key Takeaways:
- Sunbit, a financial technology company focused on everyday expenses, has announced the availability of its point-of-sale technology in over 20,000 brick-and-mortar locations across the United States. This includes service centers in nearly 40% of auto dealerships and around 9,000 dental locations. Sunbit’s technology addresses unexpected expenses and has become a highly regarded offering in the automotive and dental sectors.
- Since its inception, Sunbit has facilitated over 2 million loans through in-person transactions, reflecting its successful adoption by both merchants and consumers. The company’s expansion is driven by strong industry endorsements, high merchant and customer acceptance, and integration with popular SaaS platforms.
Empowering Consumers, Delivering Transparent Financing
Sunbit’s point-of-sale technology ensures that almost every applicant is approved within 30 seconds. More than 30% of consumers offered a 0% interest option accept the offer. Importantly, all of Sunbit’s 0% interest loans are genuinely interest-free, with customers paying only what they agree to at the point of sale. There are no hidden fees or terms associated with the loans.
Sunbit’s technology provides transparent and favorable loan terms, leading over 60% of people who see their options to move forward with a payment plan. Repeat customers account for 30% of Sunbit’s current customer base, a testament to their satisfaction with personalized offers, round-the-clock US-based support, and the absence of late fees, penalty fees, or origination fees. The company’s impressive Net Promoter Score (NPS) of 82 further demonstrates high customer satisfaction.
Strong Merchant Relationships and Industry Integrations
Sunbit’s positive impact on consumers translates into improved financial performance for merchants. Over 130,000 professionals have been certified by Sunbit, offering its point-of-sale technology to their customers.
Furthermore, Sunbit has forged significant technology integrations over the past year, collaborating with verticalized software solutions to integrate pay-over-time options into their platforms. Notable integrations include Xtime, Quik, UpdatePromise, Tekion, TruVideo, DealerTire, Weave, Workiz, Shepherd, Kenect, Zuub, and Everyware. In the dental industry, where endorsements hold significant influence, Sunbit has received endorsements from Straumann, Dental Whale, Dental WOW, and DHP.
About Sunbit:
Sunbit develops financial technology solutions that alleviate the stress associated with everyday expenses, providing individuals with more payment options. Their offerings include a next-generation, no-fee credit card managed through a powerful mobile app, as well as a point-of-sale payment option available at over 20,000 service locations, including auto dealership service centers, optical practices, dentist offices, veterinary clinics, and specialty healthcare services. Sunbit has been recognized on the 2022 Inc. 5000 list, 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 provided by Transportation Alliance Bank, Inc., dba TAB Bank, which determines credit qualifications and terms. The Sunbit Card is issued by TAB Bank under license from Visa USA Inc. Card usage is subject to the cardholder agreement.
