FlexShopper and Versatile Credit: Elevating Merchant Solutions

FlexShopper and Versatile Credit Join Forces for Merchant Growth

FlexShopper is making waves in the retail landscape by providing lease-to-own (LTO) solutions to more than 1,600 merchants through a strategic alliance with Versatile Credit. This collaboration aims not only to expand FlexShopper's reach but also to enhance the overall shopping experience for consumers.

Integration of Services to Enhance Consumer Experiences

In this partnership, FlexShopper’s innovative LTO services will be seamlessly integrated into Versatile Credit's platform. This means that customers visiting tire and auto retailers will enjoy diversified payment options, making shopping more accessible and convenient. The combined forces of these two companies signal a significant shift in financing at points-of-sale.

Impressive Originations and Growth Potential

Through this collaboration, FlexShopper has already seen substantial success, with approvals surpassing $8.3 million for applicants during one recent quarter. Additionally, the company is optimistic about the future, projecting the addition of over 100 new retail locations each quarter. This growth is a testament to the effectiveness of FlexShopper's business model and the increasing demand for flexible payment options.

Key Benefits of the Partnership

The merger of FlexShopper and Versatile Credit results in a suite of advantages aimed at both merchants and consumers. With an emphasis on streamlining processes and enhancing security, FlexShopper aims to innovate the consumer financing experience significantly.

Streamlined Application Processes

FlexShopper’s technology simplifies the leasing application procedure, ensuring a faster and more efficient experience for both customers and retailers. The ease of access through personal devices replaces cumbersome paper applications, making it a more user-friendly system.

Enhanced Security Measures

In today’s digital age, data privacy is paramount. FlexShopper addresses this concern by implementing stringent security measures that prioritize customer privacy and secure data handling, setting a new standard in consumer finance.

Anticipated Growth Trends

With a strong focus on field engagement and comprehensive training programs, FlexShopper is positioned to double the funding approvals over the coming year. As the training develops and retailers become accustomed to these innovative payment solutions, it is expected that sales figures will soar, creating a win-win situation for all parties involved.

The Future of Retail Financing

This growing partnership is more than a mere business arrangement; it symbolizes a shift towards greater financial accessibility. Versatile Credit's commitment to providing flexible financing options reinforces its mission to empower both merchants and consumers.

Key Contributions from Company Leaders

In a statement highlighting the significance of this collaboration, Russ Heiser, the CEO of FlexShopper, expressed enthusiasm for the future as the partnership matures throughout the holiday season. His vision aligns with the company’s goals to increase conversion rates and average sales prices (ASPs) for merchant partners.

Empowering Merchants with Flexible Options

Vicki Turjan, COO of Versatile Credit, also underscored the partnership's strategic intent, noting that by integrating FlexShopper’s LTO solutions, retailers would enhance their financing platforms, contributing to a more inclusive financing atmosphere.

Frequently Asked Questions

What is FlexShopper's main business focus?

FlexShopper specializes in providing lease-to-own solutions and flexible payment options to consumers, which is particularly beneficial for underserved markets.

How does the partnership with Versatile Credit benefit consumers?

The partnership enhances consumer experiences by offering more diverse and accessible payment options at the point of sale, making shopping easier and more convenient.

What financial successes have been reported through this partnership?

FlexShopper approved over $8.3 million in lease-to-own limits during the second quarter, reflecting the success of their collaborative efforts.

How frequently does FlexShopper plan to expand its merchant base?

FlexShopper expects to add over 100 new retail locations each quarter, showcasing their rapid growth strategy.

What security measures does FlexShopper implement for its consumers?

FlexShopper places a strong emphasis on data security, employing measures that ensure customer privacy and the protection of sensitive information during the application process.

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