The Retailer - Issue 68

collaboration. Both brothers describe themselves as “calculated risk-takers with an entrepreneurial streak,” and they have capitalised on this to create an effective partnership that includes consistent and open communication. Piers and Myles encourage this with the broader Payright team and promote a culture of people empowerment within the business. This is something the brothers have been committed to from the outset, to create a clear and unique company culture. THERE IS A CLEAR GROWTH IN THE BUY NOW, PAY LATER SPACE IN THE ADDRESSABLE MARKET – THE OPPORTUNITY IS CLOSE TO $300 BILLION IN RETAIL ALONE.

“Consumers want more choice and flexibility in the way they shop and pay,” explains Piers. With an increasing societal trend for spreading the cost of purchases and larger expenses, building the Payright business was a natural progression for the brothers. In only a few years, the buy now, pay later market has grown exponentially, and the background and knowledge they bring to the business has been fundamental. “There is a clear growth in the buy now, pay later space in the addressable market – the opportunity is close to $300 billion in retail alone”, says Myles. Piers says he and Myles wholly share the CEO role, and either one can stand-in for the other at any given time. Both brothers are hands-on and oversee the details of the business while watching as the buy now, pay later revolution evolves. It was their keen eye on the sector that realised the gap with higher-priced products and services. In particular, Payright is developing the buy now, pay later category in the services market – a largely untapped space – enabling businesses such as plumbing, photography, and beauty, to name a few, the ability to offer buy now, pay later to their customers. “Being co-founders and joint CEOs, there is naturally a strong team dynamic, and as brothers, we are fortunate to have complementary skill sets and industry knowledge, having worked for some of the world’s largest payments corporations,” says Myles. “While we agree on most things, there are always going to be some things we don’t agree on, the fact that we are brothers makes this much easier to navigate. We are intimately aware of the challenges and opportunities within the buy now, pay later space, which is what prompted us to get involved in this business”, continues Piers. Piers and Myles truly show the power of teamwork with a winning combination of shared beliefs, diverse talents, and, most importantly,

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