Case Study: Perpay increases conversion 29% with a Deposit Switch-powered express checkout
Key results
The challenge
Perpay, a digital lender with an e-commerce marketplace where customers pay over time and build credit, found that potential customers often would not set up automatic repayment from their paychecks. Before Pinwheel, repayment setup relied on customers manually configuring their payroll provider portal, which created friction, hurt conversion, and gave Perpay no visibility into customer behavior.
The solution
After implementing Pinwheel Deposit Switch, Perpay customers could set up repayments in a few clicks and Perpay could see whether a customer had attempted or completed setup. Building on that visibility, Perpay introduced express checkout, an incentive offered to qualifying customers who set up repayment via Pinwheel's Deposit Switch, and tested it against a control group.
The results, in context
In an A/B test, the express-checkout incentive increased conversion by 29% for the test group over the control group that did not receive the notification. Deposit Switch also let Perpay monitor direct deposit allocations and detect when a customer's allocations change.