By founding Blispay, Greg Lisiewski simultaneously bolstered financing options for small mom-and-pop retail stores and empowered consumers to take their dollars where they choose.
Blispay allows merchants to offer instant financing to consumers through their smartphone, with technology enabling faster, more automated underwriting decisions. Blispay offers six months interest-free financing for customers who pay it back in full by the end of that time period. It is the only company to provide instant, flexible and anytime financing, plus 2% cashback, Lisiewski said.
“Once customers have our product they can now use it anywhere Visa is accepted. In many ways, we’re empowering consumers to take the financing with them and use it at any store,” Lisiewski said. “You’re not dependent on a store to offer financing program ABCD. And no one’s doing it.”
The product is available for merchants of any size, but Blispay was designed with small- and medium- sized businesses in mind who don’t have access to the same traditional bank products that big box stores do.
Lisiewski was vice president of marketing and products for Bill Me Later before it was acquired by PayPal and stayed on as head of global credit products. He founded Blispay in 2014 and it went public in March 2016. They piloted live in about 30 stores and have processed thousands of transactions across the country.
In 2017, Blispay plans to expand its merchant network and Lisiewski wants it to be a positive contributor to Baltimore’s start-up ecosystem.