FlexShopper Forms Exclusive Lease-to-Own Partnership
FlexShopper Inc. (NASDAQ: FPAY) is thrilled to announce a groundbreaking partnership with United Wheels Inc., which is renowned for its portfolio of bicycle brands including Huffy, Niner Bikes, and more. This agreement allows FlexShopper to integrate its lease-to-own (LTO) financing options into United Wheels' family of websites, making outdoor cycling products more accessible to consumers who may otherwise face financial barriers.
Boosting Retail Sales with Flexible Financing
In recent evaluations, FlexShopper identified that offering LTO options can substantially elevate sales, especially for retailers specializing in durable goods. The company has experienced a significant increase in sales volume, with reports indicating an over 10% uptick in transactions when LTO is available. This trend propels FlexShopper to expand its partnerships with both online and brick-and-mortar retailers aiming to engage consumers with limited credit options.
United Wheels: A Leader in Outdoor Industries
United Wheels stands as a titan in the outdoor industry, distributing more than 5 million bicycles each year across 50 countries, generating revenues nearing $1 billion annually. Their diverse range of brands is celebrated for innovation, style, and quality, ensuring there’s a bike for everyone in the family. Noteworthy brands under United Wheels include:
Popular Bicycle Brands
- Huffy, recognized for delivering cycling joy since 1892.
- Batch Bicycles, known for their affordable and easy-to-assemble bikes, great for casual riders.
- Buzz E-Bikes, which specializes in mid-range electric bikes that prioritize comfort.
- VAAST Bikes, utilizing advanced SUPER MAGNESIUM™ technology for enhanced durability.
- Niner Bikes, pioneering features in the mountain bike arena, especially with their 29-inch wheel designs.
Enhancing the Shopping Experience
The integration of FlexShopper’s flexible payment options into United Wheels’ e-commerce platforms is projected to significantly boost online sales. This strategic collaboration also expands FlexShopper's offerings in its marketplace, providing consumers with greater access to quality bicycles.
Russ Heiser, CEO of FlexShopper, expressed excitement about this collaboration, stating, "Partnering with PayPossible to enhance our financing solutions demonstrates our commitment to providing affordable options to consumers nationwide. The integration of United Wheels’ inventory into our LTO marketplace will empower customers with more choices and convenience. Our model signifies the importance of accessible financing, fostering substantial growth for manufacturers while broadening their reach through our platform."
Introduction to PayPossible
PayPossible plays a pivotal role in this partnership by offering a robust financing solution that connects businesses with customers through a single application process at the point of sale. This technology tailors financing offers to fit individual credit profiles of consumers, creating an optimized shopping experience and driving merchant sales upward.
About FlexShopper
FlexShopper Inc. stands at the forefront of financial technology, specializing in lease-to-own and lending solutions for underbanked populations across the U.S. Customers benefit from various flexible payment options through FlexShopper’s direct marketplace while also collaborating with a vast range of retailers across digital and physical spaces.
Contact Details for Further Inquiries
For more information, consumers and interested parties can reach out to FlexShopper’s investor relations department via the contact email provided. FlexShopper is committed to transparency and customer service, ensuring that all questions and inquiries are handled promptly.
Frequently Asked Questions
What is the benefit of the FlexShopper and United Wheels partnership?
This partnership aims to enhance the availability of lease-to-own options, making high-quality bicycles more accessible to consumers while driving retail sales.
Which brands are included in the United Wheels portfolio?
The United Wheels portfolio includes well-known brands such as Huffy, Niner Bikes, Batch Bicycles, Buzz E-Bikes, and VAAST Bikes.
How does FlexShopper benefit consumers?
FlexShopper provides flexible financing solutions that cater to the needs of consumers with limited access to traditional credit options.
What type of bicycles can consumers expect from United Wheels?
Consumers can anticipate a wide range of bicycles suitable for all ages, including traditional pedal bikes and innovative electric models.
How does PayPossible contribute to this partnership?
PayPossible facilitates the financial solutions that enable customers to access various financing options tailored to their credit profiles immediately at the point of sale.
