Case Study: Perpay removes friction from its customer journey with Pinwheel, growing repayment rates 3x
Key results
The challenge
Perpay spent five years understanding payroll systems, originally using employee self-service (ESS) portals so customers could manually set up direct deposits toward their purchases. While ESS produced good results, the process remained manual for the user, and Perpay wanted to fully automate payroll connection to reduce cart abandonment and scale.
The solution
Perpay integrated Pinwheel's paycheck-linked lending solution so customers connect their payroll or income platform in a few clicks and authorize automatic repayment without leaving the Perpay app. Pinwheel's API also provides income and employment verification and recurring access to payroll data, letting Perpay respond to employment changes and monitor direct deposit allocations.
“When we first launched with Pinwheel, improving the direct deposit setup process was a way for us to increase conversion rates with first-time customers. That lowered our acquisition costs and it also increased the speed of conversion.”
CDChris DiMarcoFounder and CEO, Perpay
The results, in context
Perpay reported that automating direct deposit setup increased conversion with first-time customers, lowered acquisition costs, and increased speed of conversion by shortening the time from approval to repayment. The company also reported that repayment rates grew 3x, and that recurring payroll access improved customer retention.