BrandSource Buying Group Adds TD Retail Card Services as Financing Partner

Rhea-AI Summary

On Dec. 1, 2021, TD Bank announced a multi-year partnership with BrandSource to offer a private-label credit card program. This initiative targets BrandSource's network of over 4,500 independent stores across the U.S., which includes various retail sectors such as appliances and electronics. The collaboration will utilize TD's TD Complete platform for streamlined applications and sales processing, enhancing reporting and analytics capabilities for member stores. Both TD Bank and BrandSource aim to deliver easier financing options to their customers and add value to their independent dealers.

Positive

• Partnership with BrandSource enhances TD's market presence in retail financing.
• Access to TD Complete platform improves sales processing for independent stores.
• Real-time reporting and analytics support member stores in making informed decisions.

Negative

• None.

WILMINGTON, Del., Dec. 1, 2021 /PRNewswire/ -- TD Bank's Retail Card Services business today announced it has signed a multi-year agreement with BrandSource to provide a private-label credit card program to its member stores. BrandSource's network includes more than 4,500 locally-owned appliance, electronics, bedding, home furnishings and floor covering stores across the U.S.

Through the partnership, BrandSource member stores will have access to TD's innovative in-store and online waterfall application and sales processing platform, TD Complete, powered by Versatile Credit. The platform streamlines applications, authorization and settlement by providing a single interface to finalize transactions across a select group of premier lending partners. Additionally, the platform delivers reporting and analytics in real time, providing members with deeper insights into sales across participating lenders.

"As a member-owned organization, we're focused on finding new ways to add value to our network of independent dealers," said Jim Ristow, CEO, BrandSource. "We're confident that TD's competitive financing programs and robust digital solution will simplify the process for our members and help them connect with customers."

"We're excited to be working with BrandSource to meet the needs of their member stores," said Mike Rittler, General Manager of Retail Card Services, Personal Lending, and Business Development at TD Bank. "Our approach is focused on working closely with our partners to deliver the market-driven insights and financing solutions that will help them reach their goals."

TD Bank's Retail Card Services business (www.tdpartnershipprograms.com) launches and administers credit card programs for merchants across all sales channels.

About BrandSource
BrandSource is the leading member-owned buying organization for independent appliance, home furnishings and consumer tech retailers. Its parent company, AVB, is a $22 billion member-driven co-op that provides merchandising, financing, digital marketing, and operational services to more than 4,500 independent dealers in the U.S. and Canada. BrandSource's affiliates include ProSource (consumer tech and custom integration); TRIB Group (rent-to-own); and Mega Group/BrandSource Canada.

About TD Bank, America's Most Convenient Bank^®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9.6 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth^®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com/us.

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SOURCE TD Bank

FAQ

What is the significance of TD Bank's agreement with BrandSource?

The agreement allows TD Bank to provide a private-label credit card program to over 4,500 independent stores, expanding its retail financing solutions.

When was the partnership between TD Bank and BrandSource announced?

The partnership was announced on December 1, 2021.

What benefits does the TD Complete platform offer to BrandSource members?

TD Complete streamlines application processes and provides real-time reporting and analytics, helping members make better financial decisions.

How will the partnership impact BrandSource member stores?

The partnership is expected to simplify financing processes for members, enhancing their ability to connect with customers.

What types of stores are included in BrandSource's network?

BrandSource's network includes appliance, electronics, bedding, home furnishings, and floor covering stores.