Case Study: Perpay increases direct deposit conversion 2.19X for eligible users with Pinwheel PreMatch
Key results
The challenge
Having implemented Pinwheel Deposit Switch in 2020, Perpay wanted to make paying off installment plans as easy as possible by further reducing friction in the payroll-connection flow. It sought a frictionless digital experience that would connect directly to customers' payroll providers so users could set up automated repayment schedules with fewer drop-off points.
The solution
In 2023, Perpay became a beta partner for Pinwheel PreMatch, a next-generation Deposit Switch experience that proactively recognizes a user's payroll records from existing profile data, letting eligible users bypass payroll search and login to complete a credential-less switch in two clicks. Perpay began routing eligible users through PreMatch.
“The onboarding experience at Perpay, made possible by the help of Pinwheel PreMatch, has become a frictionless and delightful experience for our customers. Our conversion rates have doubled since we launched this feature.”
MBMichael BohsDirector of Product & Design, Perpay
The results, in context
Perpay implemented PreMatch in three weeks and reported an immediate performance uplift. For eligible customers, it saw a 2.19X increase to switch success rate and an 11% overall switch-conversion improvement, and stated its conversion rates doubled since launching the feature.