PublicSquare Announces Partnership with Credova, the Leading Buy Now Pay Later Solution for the Parallel Economy
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Insights
The integration of Credova's Buy Now Pay Later (BNPL) technology into the PublicSquare platform represents a strategic move to capitalize on the growing trend of alternative payment options in e-commerce. The BNPL model has been gaining traction, especially in niche markets such as outdoor recreation and firearms, where Credova has established a strong presence. This partnership could potentially increase PublicSquare's market share by leveraging Credova's established customer base of 2.8 million and 4,000 vendors.
From a market research perspective, this collaboration is poised to enhance customer retention and acquisition for PublicSquare by offering financial flexibility and addressing the specific needs of consumers in this sector. The mention of 'uncancellable payment ecosystem' hints at creating a reliable and secure transaction environment, which is particularly relevant given the social and political sensitivity surrounding the Second Amendment. Such a value proposition could resonate well with the target audience, strengthening brand loyalty and potentially increasing sales volume.
Examining the financial implications of the partnership between PublicSquare and Credova, it's essential to consider the potential impact on PublicSquare's revenue streams. The BNPL solution could lead to an increase in transaction volumes and higher average order values, as customers might be more inclined to make purchases with the option to pay over time. This could result in an uptick in PublicSquare's financial performance, which investors should monitor closely as the partnership unfolds.
However, it's also important to consider the risks associated with the BNPL model, such as increased exposure to consumer credit risk and the potential for higher default rates. While BNPL options can attract more customers, they also require robust risk management systems. The long-term success of this partnership will depend on how effectively PublicSquare and Credova can manage these risks while maximizing the benefits of the BNPL model.
The partnership between PublicSquare and Credova is indicative of broader economic trends, such as the shift towards digital marketplaces and the integration of fintech solutions in traditional business models. The BNPL model, which allows consumers to defer payments, reflects changing consumer preferences towards more flexible payment methods and could stimulate consumer spending within the platform.
On a macroeconomic level, this alliance could contribute to the growth of the 'parallel economy'—a term referring to a market ecosystem operating alongside the mainstream economy, often with a focus on specific values or principles. In the case of PublicSquare, this includes a commitment to Second Amendment rights. The creation of such ecosystems can diversify economic activity and foster innovation in payment processing, which is essential for economic resilience.
Partnership Implements Credova Technology into PublicSquare Marketplace and Expands Second Amendment Access for Consumers
First Step in Building the Uncancellable Payment Ecosystem for the Parallel Economy
Michael Seifert, Chairman and Chief Executive Officer of PublicSquare, commented, “Our partnership with Credova is an important next step in the maturation of the PublicSquare ecosystem and helps solidify the parallel economy's economic engine. The partnership supercharges the PublicSquare platform with an immediate customer value proposition, plus immediate access to Credova’s formidable client base, particularly in the firearms, recreational, and personal defense industries. Through the integration of the capabilities of Credova’s Buy Now Pay Later payments technology, we open the door for both our consumers and merchants to explore sales and financing opportunities that may have been previously unavailable. Further, this partnership ensures that purchases in the PublicSquare marketplace remain secure from cancellations, helping to protect Second Amendment rights, a crucial and necessary safeguard for the parallel economy. We are excited for our partnership with the excellence-driven Credova team.”
Credova Highlights
- Credova is the leading BNPL solution for the firearms industry
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Exclusive partnerships with over
60% of the top online shooting sports retailers - Over 2.8 million customers
- More than 4,000 values-aligned vendor relationships
Dusty Wunderlich, Chief Executive Officer of Credova, commented, “We are eager to embark on this journey with PublicSquare, confident in the value creation we unlock together. This is a transformative moment for Credova, solidifying our belief that the future of commerce lies in the integration of marketplaces with innovative payment solutions. This alliance propels Credova to the forefront of the parallel economy, giving us a differentiated strategic advantage in the competitive BNPL landscape. This not only broadens our market reach but also provides unprecedented financial flexibility to PublicSquare customers, safeguarding their purchases from cancellation in the process. We look forward to serving great American businesses and patriotic consumers for years to come with the great people at PublicSquare."
About PublicSquare
PublicSquare is an app and website that connects patriotic Americans to high-quality businesses that share their values, both online and in their local communities. The primary mission of the platform is to help consumers “shop their values” and put purpose behind their purchases. In just over one year since its nationwide launch, PublicSquare has seen tremendous growth and proven to the nation that the parallel, “patriotic” economy can be a major force in commerce. The platform has approximately 71,000 businesses from a variety of different industries and approximately 1.6 million consumer members. Additionally, PublicSquare leverages data and insights from the platform to assess its members’ needs and provide quality wholly-owned products, such as EveryLife diapers and wipes, to fill those needs. PublicSquare is free to join for both consumers and business owners alike, and to learn more, download the app on the App Store or Google Play, or visit PublicSquare.com.
About Credova
Credova offers industry-leading buy now, pay later (BNPL) solutions, empowering consumers with flexible payment options and driving substantial growth for merchants. As a pioneer in the BNPL sector, Credova enables flexible purchasing of items such as firearms, ammunition, and shooting sports accessories, both online and in brick-and-mortar locations. Deeply committed to preserving American freedoms, Credova effortlessly bridges the gap between aspiration and ownership, making essential and leisure items more accessible. Dedicated to nurturing the adventurous American spirit, Credova enriches lives with transparent, adaptable payment solutions, epitomizing a commitment to financial empowerment and traditional values.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, and for purposes of the “safe harbor” provisions under the United States Private Securities Litigation Reform Act of 1995. Any statements other than statements of historical fact contained herein are forward-looking statements. Such forward-looking statements include, but are not limited to, expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding PublicSquare, anticipated product launches, our products and markets, future financial condition, expected future performance and market opportunities of PublicSquare. Forward-looking statements generally are identified by the words “anticipate,” “believe,” “could,” “expect,” “estimate,” “future,” “intend,” “may,” “might,” “strategy,” “opportunity,” “plan,” “project,” “possible,” “potential,” “project,” “predict,” “scales,” “representative of,” “valuation,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, and in this press release; however, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including, without limitation: (i) the outcome of any legal proceedings that may be instituted against PublicSquare related to the business combination with Colombier, (ii) changes in the competitive industries and markets in which PublicSquare operates, variations in performance across competitors, changes in laws and regulations affecting PublicSquare’s business and changes in the combined capital structure, (iii) the ability to implement business plans, growth, marketplace and other expectations, and identify and realize additional opportunities, (iv) risks related to PublicSquare’s limited operating history, the rollout and/or expansion of its business and the timing of expected business milestones, including EveryLife, PSQ Link, E-commerce, and the Tucker Carlson partnership, (v) risks related to PublicSquare’s potential inability to achieve or maintain profitability and generate significant revenue, (vi) the ability to raise capital on reasonable terms as necessary to develop its products in the timeframe contemplated by PublicSquare’s business plan, (vii) the ability to execute PublicSquare’s anticipated business plans and strategy, (viii) the ability of PublicSquare to enforce its current or future intellectual property, including patents and trademarks, along with potential claims of infringement by PublicSquare of the intellectual property rights of others, (ix) actual or potential loss of key influencers, media outlets and promoters of PublicSquare’s business or a loss of reputation of PublicSquare or reduced interest in the mission and values of PublicSquare. and the segment of the consumer marketplace it intends to serve, and (x) the risk of economic downturn, increased competition, a changing regulatory landscape and related impacts that could occur in the highly competitive consumer marketplace, both online and through “bricks and mortar” operations. The foregoing list of factors is not exhaustive. Recipients should carefully consider such factors and the other risks and uncertainties described and to be described in PublicSquare’s public filings with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Recipients are cautioned not to put undue reliance on forward-looking statements, and PublicSquare. does not assume any obligation to, nor intends to, update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. PublicSquare gives no assurance that PublicSquare will achieve its expectations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240123650584/en/
Investors:
investment@publicsquare.com
Media:
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Source: PSQ Holdings, Inc.
FAQ
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