Thryv Enhances Its Fast-Growing ThryvPaySM With Consumer Financing Option

Rhea-AI Summary

Thryv Holdings (NASDAQ:THRY) has enhanced its ThryvPay payment solution, enabling service businesses to offer consumer financing in partnership with Wisetack. This feature allows clients to pre-qualify for financing early in the customer journey, benefiting both consumers and business owners. ThryvPay has seen significant growth, with a 235% increase in processing volume and a $150 million annual run-rate. Additional features include new payment options like Apple Pay and Google Pay. These enhancements aim to increase purchasing power for consumers and revenue for businesses.

Positive

• 235% year-over-year growth in ThryvPay processing volume.
• $150 million annual run-rate for ThryvPay.
• Potential for small businesses to see a 20% increase in average ticket sizes.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Thryv Holdings, Inc. (NASDAQ:THRY), the small business platform for growing small- to medium-sized businesses (SMBs), today announced new enhancements to its fully-integrated payment solution, ThryvPay^SM, which now enables service-based businesses to offer consumer financing, in partnership with Wisetack, as a new payment method.

Businesses using ThryvPay, the company’s proprietary payment processing solution, can now invite their clients to pre-qualify for financing early in the customer journey. The consumer can pre-qualify for services* such as home services, auto services, veterinarian services, dental services and medical services financing before agreeing to a proposal. The invitation to apply for financing is processed through the Thryv® platform, allowing the business owner the transparency to see which customers have been prequalified and for how much.

While customers gain the benefit of paying for services in more affordable installments once the service is complete, business owners immediately receive full payment (minus a nominal transaction fee), allowing them to exponentially expand their total addressable market and not only rely on customers who can afford cash-and-carry services.

“We’ve seen tremendous growth in ThryvPay since we launched 18 months ago, with 235% year-over-year total processing volume growth and a current $150 million annual run-rate,” said Ryan Cantor, Chief Product Officer at Thryv. “The market has embraced ThryvPay, and this is another opportunity for small businesses to take further control of how and when they get paid. At the same time, Thryv users can provide their customers with more purchasing power while increasing their bottom line. On average, small businesses can expect to see upwards of a 20% increase in average ticket when offering convenient financing options.”

To facilitate the easy integration of consumer financing, Thryv has partnered with Wisetack, a leader in the service-based business financing industry.

“Wisetack and Thryv will enable thousands more businesses to offer simple, consumer-friendly financing to their customers,” added Bobby Tzekin, CEO and co-founder of Wisetack. “Now, Thryv users can give their customers a better way to afford the services they need, all while growing their business.”

In addition to consumer financing, ThryvPay has also added Apple Pay and Google Pay as new convenient payment options for consumers, along with client focused improvements to the user interface that make it even simpler and more intuitive. ThryvPay now enables SMBs to accept payment via credit card, ACH/Bank Draft, and through consumer financing.

Learn more about ThryvPay consumer financing options and how to take advantage of them here.

*All loans are subject to credit approval. Your terms may vary. Wisetack loans are issued by Hatch Bank. For example, a $1,000 purchase could cost $45.18 a month for 24 months, based on a 7.9% APR. See additional terms at wisetack.com/faqs.

About Thryv Holdings, Inc.

Thryv Holdings, Inc. (NASDAQ:THRY) is a global software and marketing services company that empowers small- to medium-sized businesses (SMBs), franchises, and agencies to grow and modernize their operations so they can compete and win in today’s economy. Over 46,000 businesses use our award-winning SaaS platform, Thryv®, to manage their end-to-end customer experience, which has helped businesses across the U.S. and overseas grow their bottom line. Thryv also manages digital and print presence for over 400,000 businesses, connecting these SMBs to local consumers via proprietary local search portals and print directories. For more information about Thryv Holdings, Inc., visit thryv.com.

About Wisetack

Wisetack makes it easy for in-person businesses to offer financing to their consumers. Through its suite of APIs, Wisetack embeds financing options into software platforms that businesses are already using in their day-to-day operations. In-person businesses can start offering financing to consumers in minutes and boost their sales. Consumers can pay over time for purchases that will better their lives, without surprises or unexpected fees. All loans are subject to credit approval. Your terms may vary. Wisetack loans are issued by Hatch Bank. See additional terms at wisetack.com/faqs.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220628005494/en/

Charity Lacey

Gregory FCA for Thryv, Inc.

Mobile: 619.36.4373

thryv@gregoryfca.com

Source: Thryv

FAQ

What recent enhancements were made to ThryvPay by Thryv Holdings?

Thryv Holdings announced enhancements to ThryvPay, enabling service businesses to offer consumer financing through a partnership with Wisetack.

How does consumer financing affect small businesses using ThryvPay?

Consumer financing allows clients to pre-qualify for services, enabling small businesses to expand their market reach and potentially increase average ticket sizes by 20%.

What is the current processing volume growth for ThryvPay?

ThryvPay has experienced a 235% year-over-year increase in total processing volume.

What new payment options have been added to ThryvPay?

ThryvPay has added Apple Pay and Google Pay among other payment options for consumers.

What is Thryv Holdings' mission regarding small businesses?

Thryv Holdings aims to empower small- to medium-sized businesses to grow and modernize their operations through its software and marketing services.