Weave, Sunbit Partner to Bring Buy Now, Pay Later Options to Small Healthcare Practices

Rhea-AI Summary

Weave (NYSE: WEAV) has entered a multi-year partnership with Sunbit to integrate Buy Now, Pay Later (BNPL) technology into Weave's patient communications platform. This collaboration aims to alleviate financial burdens for patients, allowing them to pay for healthcare services over time with fair terms and no fees. Since launching its payment solutions in 2019, Weave has expanded its offerings significantly. Sunbit's BNPL service is accessible in over 13,000 U.S. locations, while Weave serves more than 23,000. This integration is expected to enhance patient experiences and improve revenue for healthcare practices.

Positive

• Strategic partnership with Sunbit enhances Weave's payments offerings.
• BNPL technology will attract more patients by easing financial burdens.
• Expected increase in financing revenue for healthcare practices.
• Weave's platform is utilized by over 23,000 locations across the U.S. and Canada.

Negative

• None.

Innovative partnership will integrate Sunbit’s BNPL technology with Weave’s patient communications platform

LEHI, Utah--(BUSINESS WIRE)-- Weave (NYSE: WEAV), the all-in-one customer communication platform for small business, has signed a multi-year integration partnership with Sunbit, the preferred buy now, pay later (BNPL) technology for everyday needs and services. Sunbit’s technology will power Buy Now, Pay Later solutions for healthcare practices across the U.S.

The partnership integrates Sunbit’s technology and Weave’s communications platform to help eliminate financial stress and enable patients to access needed care by paying for their treatment over time. The solution offers fair and transparent payment terms, without fees of any kind.

“Collecting payments is one of the most important patient interactions in a small healthcare practice,” said Branden Neish, Weave’s Chief Product Officer. “Bringing Weave’s communications platform and Sunbit’s Buy Now, Pay Later technology together creates a solution that helps practices provide a better patient experience while driving more financing revenue each month.”

The addition of Sunbit’s Buy Now, Pay Later technology is the latest expansion of Weave’s Payments offering, which launched in 2019 to help small practices streamline payment collection. Since launching Payments, Weave has expanded its offering for practices to include Text to Pay, digital wallets, card on file and wireless terminals.

“Too many patients are delaying dental care, new eyeglasses or necessary pet surgery because of the upfront cost,” said Oded Vakrat, Head of Platform Partnerships at Sunbit. “We’re excited to partner with Weave so that practices can focus on delivering top-notch care to more patients who now don’t have to worry about how they’ll pay for it. With Sunbit technology, 90% of patients are approved, and they can split their costs into manageable payments.”

Sunbit’s Buy Now, Pay Later solution is currently available in more than 13,000 locations across the U.S. The Weave platform is currently used by over 23,000 locations across the U.S. & Canada.

About Weave
Weave is the all-in-one customer communications and engagement platform for small business. From the first phone call to the final invoice and every touchpoint in between, Weave connects the entire customer journey. Weave’s software solutions transform how local businesses attract, communicate with and engage customers to grow their business. The first Utah company to join Y Combinator, Weave has set the bar for Utah startup achievement & work culture. In the past year, Weave has been included in the Forbes Cloud 100, Inc. 5000 fastest-growing companies in America, and Glassdoor Best Places to Work. To learn more, visit www.getweave.com/newsroom/

About Sunbit
Sunbit is the preferred buy now, pay later technology for everyday needs and services. Sunbit eases the stress of buying everyday things by offering access to fast, fair and transparent payment options to people everywhere. Our technology is offered in-store and online at more than 13,000 locations, including one in three auto dealership service centers, optical practices, dentist offices, veterinary clinics, and specialty healthcare services. All loans are made by Transportation Alliance Bank, Inc., dba TAB Bank, which determines qualifications for and terms of credit.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005331/en/

Kali Geldis

Director of Communications, Weave

pr@getweave.com

Source: Weave

FAQ

What is the new partnership announced by Weave and Sunbit?

Weave has formed a multi-year partnership with Sunbit to integrate BNPL technology into its patient communications platform.

How will the BNPL technology benefit Weave's customers?

The BNPL technology will help patients manage payments for healthcare services, reducing upfront cost concerns.

Where is Sunbit's BNPL service available?

Sunbit's BNPL service is currently available in over 13,000 locations across the U.S.

How many locations use Weave's platform?

Weave's platform is used by over 23,000 locations in the U.S. and Canada.

When did Weave launch its payments offering?

Weave launched its payments offering in 2019.