FlexShopper and PayPossible Expand Consumer Payment Options Through Strategic Partnership
FlexShopper (Nasdaq: FPAY) has announced a strategic partnership with PayPossible to expand consumer financing options. The partnership integrates FlexShopper's lease-to-own (LTO) services into PayPossible's platform and implements PayPossible's waterfall solution on FlexShopper.com. The collaboration includes RANDYS Worldwide, with its 20,000-location retail network. This integration aims to match customers with appropriate financing solutions based on their profiles, potentially increasing marketplace conversions. The partnership supports FlexShopper's growth strategy by expanding payment options for its 500,000 monthly unique visitors and enhancing its competitive advantage in the LTO marketplace.
FlexShopper (Nasdaq: FPAY) ha annunciato una partnership strategica con PayPossible per espandere le opzioni di finanziamento al consumo. La partnership integra i servizi di leasing con opzione di acquisto (LTO) di FlexShopper nella piattaforma di PayPossible e implementa la soluzione a cascata di PayPossible su FlexShopper.com. La collaborazione include RANDYS Worldwide, con la sua rete di vendita al dettaglio in 20.000 location. Questa integrazione mira a abbinare i clienti con soluzioni di finanziamento adeguate in base ai loro profili, aumentando potenzialmente le conversioni del marketplace. La partnership supporta la strategia di crescita di FlexShopper ampliando le opzioni di pagamento per i suoi 500.000 visitatori unici mensili e migliorando il suo vantaggio competitivo nel mercato LTO.
FlexShopper (Nasdaq: FPAY) ha anunciado una asociación estratégica con PayPossible para expandir las opciones de financiamiento al consumidor. La asociación integra los servicios de arrendamiento con opción de compra (LTO) de FlexShopper en la plataforma de PayPossible e implementa la solución en cascada de PayPossible en FlexShopper.com. La colaboración incluye a RANDYS Worldwide, con su red de venta al por menor de 20,000 ubicaciones. Esta integración tiene como objetivo emparejar a los clientes con soluciones de financiamiento adecuadas según sus perfiles, lo que podría aumentar las conversiones en el mercado. La asociación apoya la estrategia de crecimiento de FlexShopper al ampliar las opciones de pago para sus 500,000 visitantes únicos mensuales y mejorar su ventaja competitiva en el mercado LTO.
플렉스쇼퍼 (Nasdaq: FPAY)는 페이포시블과 전략적 파트너십을 체결하여 소비자 금융 옵션을 확장한다고 발표했습니다. 이 파트너십은 플렉스쇼퍼의 임대 후 소유(LTO) 서비스를 페이포시블의 플랫폼에 통합하고, 플렉스쇼퍼.com에서 페이포시블의 워터폴 솔루션을 구현합니다. 이 협력에는 20,000개 매장 네트워크를 가진 랜디스 월드와이드가 포함됩니다. 이 통합은 고객의 프로필에 따라 적절한 금융 솔루션과 고객을 매칭하여 시장 전환률을 증가시킬 것으로 기대됩니다. 이 파트너십은 500,000명의 월간 고유 방문자를 위한 결제 옵션을 확장하고 LTO 시장에서의 경쟁 우위를 강화함으로써 플렉스쇼퍼의 성장 전략을 지원합니다.
FlexShopper (Nasdaq: FPAY) a annoncé un partenariat stratégique avec PayPossible pour élargir les options de financement des consommateurs. Ce partenariat intègre les services de location-achat (LTO) de FlexShopper sur la plateforme de PayPossible et met en œuvre la solution en cascade de PayPossible sur FlexShopper.com. La collaboration inclut RANDYS Worldwide, avec son réseau de vente au détail de 20 000 emplacements. Cette intégration vise à associer les clients à des solutions de financement appropriées en fonction de leurs profils, ce qui pourrait augmenter les conversions sur le marché. Ce partenariat soutient la stratégie de croissance de FlexShopper en élargissant les options de paiement pour ses 500 000 visiteurs uniques mensuels et en renforçant son avantage concurrentiel sur le marché LTO.
FlexShopper (Nasdaq: FPAY) hat eine strategische Partnerschaft mit PayPossible angekündigt, um die Finanzierungsmöglichkeiten für Verbraucher zu erweitern. Die Partnerschaft integriert die Mietkauf (LTO) -Dienste von FlexShopper in die Plattform von PayPossible und implementiert die Wasserfall-Lösung von PayPossible auf FlexShopper.com. Die Zusammenarbeit umfasst RANDYS Worldwide mit einem Einzelhandelsnetz von 20.000 Standorten. Diese Integration zielt darauf ab, Kunden basierend auf ihren Profilen mit geeigneten Finanzierungslösungen zu matchen, was potenziell die Conversion-Raten im Marktplatz erhöhen könnte. Die Partnerschaft unterstützt die Wachstumsstrategie von FlexShopper, indem sie die Zahlungsmöglichkeiten für die 500.000 einzigartigen Besucher pro Monat erweitert und den Wettbewerbsvorteil im LTO-Markt stärkt.
- Integration with PayPossible expands customer reach to 20,000+ retail locations through RANDYS Worldwide network
- Access to 500,000 monthly unique visitors through FlexShopper.com
- Enhanced conversion potential through tailored financing solutions
- Expansion into automotive segment through RANDYS Worldwide partnership
- None.
Insights
This strategic partnership represents a significant growth opportunity for FlexShopper. The integration with PayPossible's waterfall platform opens access to over 20,000 retail locations through RANDYS Worldwide alone, substantially expanding FPAY's market reach. The partnership should drive revenue growth through two key channels: increased conversion rates on FlexShopper.com due to better matching of customers with appropriate financing options and broader distribution of their lease-to-own solutions through PayPossible's merchant network.
The automotive aftermarket focus through RANDYS Worldwide is particularly strategic, as it targets a stable, high-margin sector with consistent demand for expensive parts and modifications. This diversification into automotive retail could help smooth out seasonal revenue fluctuations and provide more predictable cash flows. For a company with a market cap of just
FlexShopper to offer lease-to-own solutions within PayPossible’s waterfall to new merchants, including RANDYS Worldwide, with a retail network of over 20,000 locations
PayPossible to introduce new payment options on FlexShopper.com
BOCA RATON, Fla., Oct. 31, 2024 (GLOBE NEWSWIRE) -- FlexShopper Inc. (Nasdaq: FPAY), a leading national lease-to-own (LTO) retailer and payment solutions provider, has announced a strategic partnership with PayPossible, a top financing waterfall platform. This partnership will integrate FlexShopper’s LTO services into PayPossible’s platform, expanding consumer financing options for a wide range of retail merchants.
As part of this collaboration, FlexShopper.com has chosen PayPossible as its marketplace waterfall solution. Customers visiting FlexShopper.com will be matched with the most appropriate financing solution based on their unique profile. This approach is designed to maximize marketplace conversions while expanding payment options for FlexShopper’s customers. The integration of PayPossible’s advanced waterfall platform into FlexShopper.com will ensure consumers are presented with financing options tailored to their specific financial situation, enhancing their overall shopping experience. FlexShopper’s partnership with PayPossible supports its growth strategy by adding best-in-class partners that expand its competitive advantage and provide customers on FlexShopper.com with more financing options than other retailers.
“We are excited and honored to be the financing waterfall solution of choice for FlexShopper.com, the largest LTO marketplace in the U.S. This partnership allows us to expand the breadth of payment options available to the over 500,000 unique monthly visitors to FlexShopper.com,” said Lance Taylor, CRO at PayPossible. “We are equally excited to have FlexShopper integrated into our brick-and-mortar retail waterfall, allowing merchants to provide more flexible payment options, ultimately increasing sales and customer satisfaction.”
In addition to FlexShopper.com, this partnership supports a seamless customer experience by providing flexible payment options at major retailer and etailer locations, including RANDYS Worldwide.
RANDYS Worldwide, a premier automotive supplier in the U.S., with a retail network of 20,000 locations, boasts national distribution centers that ensure next-day order fulfillment. RANDYS has expanded from its origins to offering a full suite of automotive solutions, including suspension, wheels, and complete axles for trucks and off-road vehicles. RANDYS stands as the ultimate one-stop solution for undercar needs through brands such as:
- Yukon Gear & Axle®: Specializes in rugged, aftermarket drivetrain parts built for high performance
- USA Standard Gear®: A go-to for reliable, affordable OE replacement drivetrain components, for the DIY customer
- Zumbrota Drivetrain®: Renowned for high-quality remanufactured transfer cases, manual transmissions, and axle assemblies.
- ICON Vehicle Dynamics®: An industry leader in advanced performance suspension systems, shocks, and off-road armor.
- Dynatrac™: Known for its ProRock high-clearance off-road axles, engineered for extreme durability.
- Carli Suspension®: Delivers premium suspension systems for both street and off-road, including leveling kits and advanced lift systems.
- Cognito Motorsports: Specializes in suspension and steering parts for trucks and off-road vehicles, enhancing handling and stability.
“FlexShopper is thrilled to partner with PayPossible to offer enhanced financing solutions across a broader retail network,” said Russ Heiser, CEO at FlexShopper. “The launch of our LTO services at RANDYS Worldwide marks an important milestone in our mission to provide affordable payment options to customers nationwide. This growth reflects the success of strategies underway to expand FlexShopper to new brick-and-mortar and online retailers, and highlighting the continued growth in the automotive segment.”
Mr. Heiser continued “Additionally, adding PayPossible’s payment waterfall will allow any customer on FlexShopper.com to easily apply for a payment solution that fits their unique needs, which we believe will increase conversion on our website and align with our strategy to grow revenue and gross profit.”
PayPossible’s platform simplifies the lending process by ensuring consumers receive the best financing offer based on their credit profile. By integrating FlexShopper’s LTO services, PayPossible expands its reach to serve prime and nonprime customers alike.
The integration of FlexShopper into PayPossible's platform represents a major step forward in bringing accessible financing solutions to consumers and retailers. With this collaboration, PayPossible and FlexShopper are poised to offer more affordable, accessible, and convenient purchasing options to a broader audience.
About PayPossible:
PayPossible is a leading waterfall financing provider that enables businesses to offer consumers multiple financing and flexible payment options through a single application at the point of sale. PayPossible’s unique technology aligns lenders with customers based on their specific credit profiles, providing a seamless customer experience and maximizing merchant sales.
About FlexShopper, Inc.:
FlexShopper Inc. (Nasdaq: FPAY) is a financial technology company providing lease-to-own (LTO) and lending solutions to underserved consumers across the U.S. FlexShopper offers flexible payment options for consumers through its direct marketplace at FlexShopper.com and in partnership with retailers both online and in physical store locations.
Company Contact:
FlexShopper, Inc.
Investor Relations
ir@flexshopper.com
Investor and Media Contact
Andrew Berger
Managing Director
SM Berger & Company, Inc.
Tel (216) 464-6400
andrew@smberger.com
Source: FlexShopper, Inc.
FAQ
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