RBC announces technology partnership with Alliance Data’s Bread

By Pavithra R

Alliance Data, a leading provider of data-driven marketing, loyalty and payment solutions for consumer-facing companies worldwide, has announced that its Bread division is licensing its payments technology platform to RBC, a premier global financial services provider. 

Bread was recently acquired by Alliance Data and is a technology-driven payments company transforming the way consumers shop. It powers seamless payment experiences and APIs that allow retailers and partners to offer shoppers more ways to pay over time.

“Canada is Bread’s first international expansion and is another example of how Bread continues to build merchant-focused point-of-sale payment solutions that give shoppers more convenience and choice. Our agreement with RBC accelerates Bread’s platform growth and enables us to continue bringing next-generation payment and checkout solutions to more consumers globally,” said Derek Joyce, president, Bread. 

Under the deal, RBC is leveraging Bread’s white-label digital payments platform to expand its payment solution offerings for Canadian merchants. Launched in 2020, PayPlan powered by RBC is an innovative way for Canadian customers to pay for big-ticket items over time. It is an end-to-end solution tailored for merchants. Using Bread’s robust API and customizable payment infrastructure, merchants will benefit from a fast and easy integration that creates a seamless user experience designed to grow sales and reduce shopping cart abandonment.

“Bread’s platform expands our payment capabilities, and enables us to deliver an innovative e-commerce solution that helps merchants unlock more revenue at the point-of-sale. This is another example of how RBC is working with fintechs to meet the evolving needs of Canadian merchants and customers,” said Amit Sadhu, vice president, personal lending at RBC.

“This announcement is evidence of the power of Bread’s modern payments technology to drive value to bank partners like RBC and its merchants through convenience and choice for today’s digitally-savvy consumers. With Alliance Data’s recent acquisition of Bread, we are excited about this opportunity for Bread to bring to bear its innovative technology, unique digital capabilities and exceptional talent to offer a white-label solution that augments RBC’s existing merchant payment suite,” said Val Greer, chief commercial officer, Alliance Data Card Services.