Sunbit, the company that develops fintech for everyday spending, has expanded beyond point-of-sale lending with the introduction of its new credit card. The Sunbit card offers flexibility and a personalized APR for each approved consumer.
In addition to standard credit card functionality, cardholders can choose to pay in full or select a three-, six-, or 12-month payment plan at the individual transaction level, with no annual fees, no set-up fees, no late fees, no penalty fees, and no fees to add or remove a transaction from a payment plan at any time. This provides cardholders with an ideal way to manage their spending, all from a single card, managed through the MySunbit app.
“This is a continuation of our commitment to put the customer at the center of everything we do,” said Arad Levertov, CEO of Sunbit. “Customers know what’s best for their particular situation and they deserve to have complete control over how they pay for their day-to-day expenses. They already budget and make these transaction-based adjustments through various payment and funding methods; we make their job easier and more efficient.
With the Sunbit Card, consumers can add or remove individual transactions from a payment plan over time within a billing cycle – with no charges other than interest – providing budget flexibility and financial controls, all through a centralized app.
There are over 65,000 early access cardholders and already 400,000 more consumers are on the invite list. Additionally, the Sunbit Card is available to select retailers as a co-branded card program to enhance brand awareness and customer loyalty.
In 2016, Sunbit launched its first point-of-sale technology designed explicitly for in-person transactions, initially serving retailers, auto parts, and car dealerships. The company has already expanded to nearly 14,000 locations in 46 states, with consumers using the technology to pay for services such as dental care, eyeglasses and auto repair. Over 1.2 million point-of-sale transactions have been completed with Sunbit, which equates to over $1 billion in transactions.
Additionally, Sunbit has expanded its footprint through partnerships with communications management platforms, such as Weave, an all-in-one communication and customer engagement platform for small businesses. These partnerships enable Sunbit to reach millions of additional consumers, delivering pay-over-time technology at scale.
The development of the Sunbit card is a natural extension of the company’s commitment to helping consumers pay for what they need so they can focus on the important things in life.
A customer-focused philosophy runs through the company, which is reflected in the way it treats consumers. Sunbit does not charge customers any fees for any of its products. As such, it was essential to develop a true next-gen card that was truly free of any fees, other than a customer’s personalized APR.
“Sunbit uses cutting-edge technology, leveraging artificial intelligence and machine learning, to multiply the best parts of financial services products that have come before us by 10 times,” said Arad Levertov. “We believe that our customer-centric mindset will position us as the card of choice for consumers. When customers are happy, everyone wins.