U.S. electronics chain is opening its first Canadian stores around Toronto

In the wake of the shutdown of homegrown chain Factory Direct and the conversion of hundreds of The Source stores into smaller format locations, a new player from the U.S. is making a foray into the Canadian electronics retail market.

PayMore has a far different model than its competitors, dealing solely in used tech rather than new products, and offering buying, trading, selling and recycling services in a clean, professionl environment that offers a consistent experience across locations.

With three dozen existing stores south of the border and over 50 more on the way this year, the company is now looking to the Great White North for even further success, as reported by Retail Insider this week.

PayMore's told the outlet that its Canadian expansion will start with five outposts in Ontario from one franchisee — including at least one in the GTA — with a plan to eventually roll out to a whopping 120 locations across the country.

The first PayMore is set to open in just a few months, in August, followed by another later in 2024.