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LendingArch is offering what amounts to installment payments for Canadian health care expenses, hoping to take a bite of the credit card market for consumer-direct health care payments.
LendingArch will offer point of sale lending at clinics in Canada to cover the portion of health care expense that's not covered by national systems or health insurance. In a press release, LendingArch said the product is designed to offer personalized credit and repayment plans of 12 months to three years for individual consumers, with online or onsite preapprovals before treatment or procedures.
The company hopes to undercut the credit card market for health care services in the expanding out-of-pocket health care market in Canada.
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