Payright wins two Silver Stevies for its Fintech Solution and Achievements in Finance in the International Business Awards

August 19, 2021

Melbourne, Australia – 16 August 2021 – Buy now pay later (BNPL) provider, Payright, has won two silver Stevie Awards for its Achievements in Finance and Fintech Solution in the 18th Annual International Business Awards.

The International Business Awards is the world’s premier business awards program. The 2021 IBAs received entries from organisations in 63 nations and territories. More than 3,700 nominations from organisations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories.

Payright was nominated for its Achievement in Finance, running an Initial Public Offering (IPO) in December 2020 to list on the Australian Stock Exchange, raising $18.5m following an oversubscribed pre-IPO raise of $7m in convertible notes, totalling more than $25m..

The funds enabled Payright to invest in their people, marketing and technology to support the business’ growth strategy. In FY21, Payright increased its workforce by 141% with the addition of more than 44 people across technology, sales and marketing teams in Australia and New Zealand.

Payright was also nominated for its Fintech Solution in the Business Technology category. Throughout 2020/21, Payright introduced several new portal improvements to enhance the customer and merchant experience when using Payright’s buy now pay later service for higher-value purchases.

Payright’s platform overhaul dramatically streamlined the application process, improving application times and useability for both customers and merchants. The core insight and innovation for customers was enabling the capture of the necessary details, without ‘form fatigue’. By reducing the number of form fields displayed per step and simplifying language, applications for customers from beginning to end have been reduced by 50%, resulting in fewer abandonments and quicker application times. This greatly improved convenience at the point of sale and increased the propensity of the customer to use Payright as their payment option.

Stevie Award winners were determined by the average scores of more than 260 executives worldwide who participated in the judging process from June through early August. The feedback from judges has been overwhelmingly positive and focussed on the scale and amount innovation that has taken place.

Payright’s Co-Founders and Co-CEOs, Myles and Piers Redward thanked the team for their involvement over the past 12-months in achieving these awards on an international stage. They said, “Listing on the Australian Stock Exchange has been a milestone achievement for the company and has been a big part of the company’s journey. Our fintech solution has been built for our customers who are seeking genuine payment options for high-value products and services, and we have built an experience that is leading the way in the industry and continues to improve. These two awards are a fitting tribute to what the company has successfully become today and the determination of the team behind our mission.”

Stevie Awards President, Maggie Gallagher, said, “What we’ve seen in this year’s IBA nominations is that organizations around the world, in every sector, have continued to innovate and succeed, despite the setbacks, obstacles and tragedies of the ongoing COVID-19 pandemic. All of this year’s Stevie Award winners are to be applauded for their persistence and their resilience. We look forward to celebrating their achievements with them during our 8 December virtual awards ceremony.”

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