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PROG Holdings, Inc. (NYSE: PRG) is a leading financial technology holding company based in Salt Lake City, Utah. The company offers innovative and transparent payment solutions designed to meet the needs of consumers and retail partners across the United States. Founded in 1999, PROG Holdings has grown significantly and now operates primarily through two key segments: Progressive Leasing and Vive Financial.
Progressive Leasing provides point-of-sale lease-to-own solutions through an in-store, app-based, and e-commerce platform. This segment collaborates with over 15,000 retail locations in 46 states, offering a flexible lease-purchase option that allows customers to obtain merchandise while making manageable payments. Progressive Leasing contributes the majority of the company's revenue and continues to expand its footprint in the retail industry.
Vive Financial, the company’s other major segment, offers second-look revolving credit products through an omnichannel approach. Vive Financial enables customers who may not qualify for primary financing options to access credit and purchase essential products and services.
In a recent strategic move, PROG Holdings announced a partnership with Infosys, a global leader in digital services and consulting. This collaboration aims to enhance PROG Holdings’ technology operations, focusing on cloud and AI-driven innovation. By leveraging Infosys' expertise, PROG Holdings expects to achieve greater operational efficiencies, accelerate technology modernization, and improve its speed to market. This partnership is anticipated to further solidify PROG Holdings' leadership in the virtual lease-to-own market.
As PROG Holdings continues to grow, the company remains committed to providing competitive and transparent payment solutions while pursuing new opportunities for innovation and expansion. More information about PROG Holdings and its subsidiaries can be found on their official website.
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