FlexShopper Partners with PayTomorrow to Enhance Consumer Payment Options
FlexShopper (Nasdaq: FPAY) and PayTomorrow have announced a strategic partnership, integrating FlexShopper's lease-to-own (LTO) services into PayTomorrow's financing platform. The collaboration has successfully launched with Monro Inc., a leading tire and automotive chain with about 1,300 locations across the U.S. This partnership has already added over 100 incremental locations, bringing the total to over 1,400 retail locations served.
FlexShopper's CEO, Russ Heiser, highlighted the success of the initial rollout and the potential for growth, with a pipeline of over 4,000 potential locations to be added within the PayTomorrow platform. The integration aims to provide consumers with flexible payment options and merchants with comprehensive financing solutions, streamlining the checkout process and potentially increasing sales.
FlexShopper (Nasdaq: FPAY) e PayTomorrow hanno annunciato una partnership strategica, integrando i servizi di lease-to-own (LTO) di FlexShopper nella piattaforma di finanziamento di PayTomorrow. La collaborazione è stata lanciata con successo con Monro Inc., una catena leader nel settore degli pneumatici e dell'automotive con circa 1.300 sedi negli Stati Uniti. Questa partnership ha già aggiunto oltre 100 sedi supplementari, portando il totale a oltre 1.400 punti vendita serviti.
Il CEO di FlexShopper, Russ Heiser, ha sottolineato il successo del lancio iniziale e il potenziale di crescita, con un pipeline di oltre 4.000 sedi potenziali da aggiungere all'interno della piattaforma PayTomorrow. L'integrazione mira a fornire ai consumatori opzioni di pagamento flessibili e ai commercianti soluzioni di finanziamento complete, semplificando il processo di acquisto e potenzialmente aumentando le vendite.
FlexShopper (Nasdaq: FPAY) y PayTomorrow han anunciado una asociación estratégica, integrando los servicios de lease-to-own (LTO) de FlexShopper en la plataforma de financiamiento de PayTomorrow. La colaboración se ha lanzado con éxito con Monro Inc., una cadena líder en llantas y automotriz con aproximadamente 1.300 ubicaciones en EE.UU. Esta asociación ya ha añadido más de 100 ubicaciones adicionales, llevando el total a más de 1.400 puntos de venta atendidos.
El CEO de FlexShopper, Russ Heiser, destacó el éxito del lanzamiento inicial y el potencial de crecimiento, con un pipeline de más de 4.000 ubicaciones potenciales que se añadirán en la plataforma de PayTomorrow. La integración tiene como objetivo proporcionar a los consumidores opciones de pago flexibles y a los comerciantes soluciones de financiamiento completas, agilizando el proceso de pago y potencialmente aumentando las ventas.
FlexShopper (Nasdaq: FPAY)와 PayTomorrow는 FlexShopper의 리스 투 오운(LTO) 서비스를 PayTomorrow의 금융 플랫폼에 통합하는 전략적 파트너십을 발표했습니다. 이 협력은 미국 전역에 약 1,300개 매장을 둔 선도적인 타이어 및 자동차 체인인 Monro Inc.와 함께 성공적으로 출범했습니다. 이 파트너십을 통해 100개 이상의 추가 매장이 추가되어 전체 매장 수가 1,400개를 넘었습니다.
FlexShopper의 CEO인 Russ Heiser는 초기 론칭의 성공과 성장 가능성을 강조하며, PayTomorrow 플랫폼에 추가될 4,000개 이상의 잠재적인 매장 파이프라인이 있다고 밝혔습니다. 이 통합은 소비자에게 유연한 지불 옵션을 제공하고 상인에게 포괄적인 금융 솔루션을 제공하여 결제 프로세스를 간소화하고 매출을 증가시킬 수 있는 잠재력을 목표로 하고 있습니다.
FlexShopper (Nasdaq: FPAY) et PayTomorrow ont annoncé un partenariat stratégique, intégrant les services de location-achat (LTO) de FlexShopper dans la plateforme de financement de PayTomorrow. Cette collaboration a été lancée avec succès avec Monro Inc., une chaîne de pneus et d'automobiles de premier plan comptant environ 1.300 emplacements aux États-Unis. Ce partenariat a déjà ajouté plus de 100 emplacements supplémentaires, portant le total à plus de 1.400 points de vente desservis.
Le PDG de FlexShopper, Russ Heiser, a souligné le succès du lancement initial et le potentiel de croissance, avec un pipeline de plus de 4.000 emplacements potentiels à ajouter au sein de la plateforme PayTomorrow. L'intégration vise à fournir aux consommateurs des options de paiement flexibles et aux commerçants des solutions de financement complètes, simplifiant le processus de paiement et augmentant potentiellement les ventes.
FlexShopper (Nasdaq: FPAY) und PayTomorrow haben eine strategische Partnerschaft angekündigt, die die Leasing-Optionen von FlexShopper (LTO) in die Finanzierungsplattform von PayTomorrow integriert. Die Zusammenarbeit wurde erfolgreich mit Monro Inc., einer führenden Reifen- und Automobilkette mit etwa 1.300 Standorten in den USA, gestartet. Diese Partnerschaft hat bereits über 100 zusätzliche Standorte hinzugefügt, sodass insgesamt über 1.400 Einzelhandelsstandorte bedient werden.
Der CEO von FlexShopper, Russ Heiser, hob den Erfolg des ersten Rollouts und das Wachstumspotenzial hervor, mit einer Pipeline von über 4.000 potenziellen Standorten, die in die PayTomorrow-Plattform integriert werden sollen. Die Integration zielt darauf ab, Verbrauchern flexible Zahlungsoptionen und Händlern umfassende Finanzierungslösungen anzubieten, um den Checkout-Prozess zu optimieren und potenziell den Umsatz zu steigern.
- Successful integration of FlexShopper's LTO program into PayTomorrow's platform
- Partnership launched with Monro Inc., adding approximately 1,300 locations
- Over 100 incremental locations added, totaling over 1,400 retail locations served
- Pipeline of over 4,000 potential locations for future expansion
- Initial customer origination totals exceeding expectations
- None.
Insights
FlexShopper's partnership with PayTomorrow marks a significant strategic move in the consumer financing landscape. The integration of FlexShopper's lease-to-own (LTO) program into PayTomorrow's platform has already yielded impressive results, with over 1,400 retail locations now offering FlexShopper's services. This rapid expansion, coupled with a pipeline of 4,000 potential new locations, signals strong growth potential for FlexShopper.
The partnership's success with Monro Inc., a major player in the automotive service industry, demonstrates the scalability and market demand for flexible payment options. This could lead to increased revenue streams and market share for FlexShopper. Investors should note that while the initial results are promising, the long-term impact on FlexShopper's financials will depend on consumer adoption rates and the performance of these new retail partnerships.
The collaboration between FlexShopper and PayTomorrow taps into a growing trend in consumer finance: the demand for flexible, accessible payment options. This partnership strategically positions both companies to capture a larger share of the underserved consumer market, particularly those with credit options.
The successful rollout with Monro Inc. is especially noteworthy, as it opens up the automotive service sector—a high-ticket, essential services market—to LTO financing. This could potentially increase average transaction values and customer retention for participating retailers. The rapid addition of over 100 incremental locations suggests strong merchant interest, which could accelerate FlexShopper's market penetration and brand recognition among consumers.
The integration of FlexShopper's LTO services into PayTomorrow's platform represents a technological synergy that enhances the value proposition for both merchants and consumers. By seamlessly incorporating LTO options into existing point-of-sale systems and eCommerce platforms, this partnership reduces friction in the purchasing process.
The technology behind this integration likely involves API-driven solutions and real-time decision engines, allowing for instant credit decisions and a smooth user experience. This technological edge could be a significant differentiator in the competitive fintech space. However, as the partnership scales to thousands of locations, ensuring system stability, data security and scalability will be important for maintaining service quality and protecting sensitive financial information.
FlexShopper announces the successful integration of their LTO program into PayTomorrow’s platform
Successful rollout with Monro Inc., one of the nation’s leading automotive service and tire providers with approximately 1,300 locations
FlexShopper’s partnership with PayTomorrow has quickly added over 100 incremental locations with additional retailers, supporting a robust pipeline of over 4,000 locations
BOCA RATON, Fla., Aug. 19, 2024 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (Nasdaq: FPAY), a prominent national online lease-to-own retailer and payment solutions provider, and PayTomorrow, a leading financing waterfall platform, are pleased to announce a strategic partnership. This new collaboration integrates FlexShopper’s robust lease-to-own (LTO) services into PayTomorrow’s flexible financing platform, enhancing consumer financing options for a wide range of retail merchants.
In a recent milestone, PayTomorrow and FlexShopper have successfully launched their financing platform with Monro Inc., one of the nation’s leading tire and automotive chains that has approximately 1,300 locations across the U.S., demonstrating their commitment to provide consumers with access to flexible payment options.
FlexShopper specializes in providing flexible LTO solutions tailored for underserved consumers and retail merchants across various sectors. By integrating FlexShopper’s LTO services, PayTomorrow further expands its payment offerings to include FlexShopper’s current and future financing options. These solutions are seamlessly integrated into a merchant’s point-of-sale systems and eCommerce platforms and provide customers with a spending limit for multiple purchases through FlexShopper’s retail partners.
"FlexShopper is excited to partner with PayTomorrow to offer enhanced financing solutions that empower consumers and merchants alike," said Russ Heiser, CEO at FlexShopper. "This collaboration underscores our commitment to provide accessible financial products and services that meet the diverse needs of today's consumers.”
Mr. Heiser continued, “I am pleased to announce that we have already launched our LTO solution with one of the largest tire and automotive chains in the U.S. through the PayTomorrow platform. Initial customer origination totals from these locations are exceeding our expectations, with almost 1,300 new partner locations enabled with FlexShopper LTO offerings. Based on the success of our initial rollout, our partnership with PayTomorrow has already added over 100 incremental locations with additional retailers and we are now serving over 1,400 retail locations through our partnership with PayTomorrow. We see significant opportunities for additional retailers, and our current pipeline consists of over 4,000 potential locations to be added within the PayTomorrow platform. As a result, we believe our new partnership with PayTomorrow represents a compelling growth opportunity for FlexShopper."
PayTomorrow’s platform simplifies the process for consumers to access financing options, including LTO, directly through merchant channels. This integration streamlines the checkout process, providing a frictionless experience for shoppers, while enabling merchants to offer comprehensive financing solutions.
"We are thrilled to partner with FlexShopper to bring expanded financing choices to our network of retail merchants," said Tony Amitrano, Chief Revenue Officer of PayTomorrow. "Our combined strengths will empower merchants to cater to a broader customer base, from prime to nonprime consumers, fostering increased sales and customer satisfaction."
The partnership between PayTomorrow and FlexShopper is set to drive innovation in consumer finance, by leveraging technology to make affordable payment solutions more accessible to all through an easy customer application process. In addition, the partnership supports flexible funding options for customers who have fewer options to purchase goods that they want and need, while providing an easy to integrate platform for retail partners to increase their sales.
If you are a merchant interested in offering FlexShopper’s LTO solution through the PayTomorrow platform, please contact sales@paytomorrow.com.
About PayTomorrow:
PayTomorrow is a trusted financial waterfall provider enabling businesses, both in-store and online, to provide consumers with multiple financing and flexible payment solutions through a single application at the point of sale. PayTomorrow’s unique technology aligns lenders with customers, ensuring customers receive the best available offer based on that specific customer’s credit profile, helping customers access financing and helping merchants maximize sales. PayTomorrow integrates into most off-the-shelf eCommerce platforms, custom platforms/shopping carts, in-store POS systems and standalone applications.
About FlexShopper, Inc.: FlexShopper, Inc. (Nasdaq: FPAY) is a leading national financial technology company that provides payment options to consumers. FlexShopper provides a variety of flexible funding options for underserved consumers through its online direct to consumer marketplace at Flexshopper.com and in partnership with partner merchants both online as well as at brick-and-mortar locations. FlexShopper’s solutions are designed to meet the needs of a wide range of consumer segments via lease-to-own and lending products.
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
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