The CEO of Quadpay lays out why the buy now, pay later fintech is pushing into the 'overlooked' world of browser extensions to get a leg up on the competition

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retail cyber online shopping gift card holiday black friday sale credit card Quadpay is launching a Chrome extension for online shopping.

  • Quadpay, the buy now, pay later fintech, is launching a Chrome extension.
  • It’s the first of the buy now, pay later products to launch a browser extension as another way to reach consumers. 
  • Most buy now, pay later players — Quadpay included — already have consumer-facing apps that facilitate their pay-in-time products.
  • While buy now, pay later providers have historically competed for exclusive merchant partnerships, they’re now looking to build more brand loyalty with consumers directly.
  • Visit Business Insider’s homepage for more stories.

For the crowded buy now, pay later space, competition has shifted from winning merchant partnerships toward consumer loyalty. 

That’s played out in a number of ways. Startups including Affirm, Afterpay, Klarna, and Quadpay have each launched their own consumer-facing platforms via apps, reward programs, and, in Affirm’s case, savings accounts

In the latest move to boost consumer stickiness, Quadpay is the first buy now, pay later player to offer a Google Chrome extension as another way for online shoppers to use its installment product. 

Until now, Quadpay offered two ways for shoppers to use its installments: at partner merchants who integrated a Quadpay button at checkout; and via its app, which issues on-demand digital cards to use at any merchant. With the Chrome extension, existing and new Quadpay users will see the installment option pop up while shopping online or at checkout.

“We made a really strong push to ensure that the Chrome extension was available for this [holiday] season,” Brad Lindenberg, co-CEO of Quadpay, told Business Insider.

Read more: Inside 2020’s buy now, pay later frenzy: the new twist on financing that is a must have for everyone in the lead up to the holiday season

Following the launch of Quadpay’s app in 2019, the Chrome extension was the next logical step in its consumer-facing product strategy, Lindenberg said.

Quadpay was acquired by Australian buy now, pay later company Zip Co in September. Quadpay currently has over 3.5 million customers in the US. 

Quadpay sees less competition in the Chrome extension space

At this point, most buy now, pay later companies have their own apps. But Quadpay sees an opportunity to stand out with its new Chrome extension.

“I think the Chrome extension ecosystem is somewhat overlooked,” Lindenberg said. “There are only 13 Chrome extensions in the world that have over 10 million live installs.”

Most online shoppers are aware of money-saving extensions like Honey, Capital One Shopping, and Rakuten Rewards. Quadpay is hoping that online shoppers will like having a similar automated experience when it comes to checking out with an installment plan.

“The really big extensions like Honey and Rakuten are designed to enhance that experience either by giving deals or coupons,” Lindenberg said. “We feel that buy now, pay later is very similar to those in terms of the ability to assist a shopper.”

Honey was acquired by PayPal for $4 billion late last year. In September, PayPal rolled out its own version of buy now, pay later called Pay in 4.

Similar to other browser plug-ins, Quadpay’s extension will automatically pop up when a user is on an e-commerce site or checking out online. And for existing users who have their card details saved, it will streamline the checkout process.

“We think that this is a product that’s going to be as substantial and significant as a Honey or a Rakuten has become to a shopper,” Lindenberg said. “And there’s no reason why they can’t use both.”

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