Sunbit is a fintech on a mission – easing the stress of paying for life’s expenses by giving people more options on how and when they pay. Headquartered in Los Angeles, the company is among the fastest growing private companies in the US, landing on the Inc. 5000 list four years running, with repeat wins on Deloitte’s Fast 500 Tech list, the Los Angeles Business Journal’s record of leading companies, and the coveted Forbes Fintech 50.

Processing nearly $2B in loans per year at a 30% YoY rate of growth, Sunbit needed to broaden its payment processing and more effectively support future scale. Through its successful engagement with Checkout.com, Sunbit has improved payment efficiency and lowered its cost base. And, due to superior account management and advanced technology, Sunbit has expanded the Checkout.com partnership significantly over the past two years.

Sunbit has built the leading pay over time technology for auto dealership services, and within healthcare markets including dental, as well as a co-branded card for retailers that has no fees. In addition, its technology is embedded in nearly 20 leading SaaS, CRM and market platforms.  

To support scaling, Sunbit needed smarter, more cost-efficient payments. That’s where Checkout.com came in. Going live with Intelligent Acceptance, Real-Time Account Updater, and Network Tokens, Sunbit has increased acceptance rates and unlocked additional revenue.  

Bill Walsh, Sunbit’s Chief Customer Officer, said, “At Sunbit, we believe in getting to ‘yes.’ We have reached millions of people with financing choices that our customers love and merchant partners value. In order to deliver on our promise of great terms, transparency, and competitive value, we need partners that can help us to squeeze every bit out of the entire payments lifecycle. Checkout.com’s smart technology gave our team an easy and early reason to engage, but their collaborative and consultative approach and hands-on account management is what led us to expand the relationship.”

Challenge: Expanding and saving in the competitive world of fintech

As a high-growth financial technology company helping consumers, every basis point counts. Consumer demand for BNPL is growing at pace, with global transaction volume set to rise from $349.4bn in 2023 to $565.8bn in 2027, and demand in key verticals is well demonstrated. 

Sunbit understands customers need fast, fair access to flexible payment options. The challenge was to continue building out a payments setup with future scale in mind. To accelerate this mission, Sunbit tapped Checkout.com to lift its payments performance.