FlexShopper: Flexible Payment Solutions
FlexShopper offers alternative payment solutions for non-prime consumers, allowing them greater freedom to shop the branded goods they need and desire, from appliances and consumer electronics to furniture and auto tires.
Already a leader in lease-to-own, the firm is expanding its offering through a partnership with TAB Bank, and the subsequent launch of a new lending product called FlexLending. The solution bestows a broader spectrum of US consumers with greater choice in how to finance their purchases, and helps retailers increase their sales with this core consumer base.
“We're really excited to be able to serve more consumers and partner with new retailers as a result of this collaboration,” says Kelly Arduz, Vice President of Marketing at FlexShopper. “We've had significant success in the lease-to-own space and sought to broaden our verticals beyond just durable goods, which in turn enables us to serve more consumers and partner with more retailers. TAB Bank has expertise in originating consumer loans, and FlexShopper specializes in marketing non-prime payment solutions to consumers and retailers.”
FlexShopper is moving to meet market demand and adapt to best serve consumers, allowing them to shop how and where they choose. “Point of sale finance with retailers has been a growing industry,” Arduz says. “And through our partnership with TAB, we've taken advantage of a significant opportunity in the Buy Now, Pay Later (BNPL) space that ultimately benefits all parties.”
FlexShopper’s partnership with TAB Bank is “a synergy of expertise,” Arduz says, a symbiotic relationship combining the incisive capabilities of both organisations.
“We’re coupling our abilities,” Arduz continues. “We can now solicit additional retailers and expand into states where installment loans are preferred over lease-to-own, and a customer who previously signed a lease for tires with FlexShopper can now get their car serviced or repaired through installment loans with our new product FlexLending, thanks to our partnership with TAB.”
A relatively “fresh” working relationship, FlexShopper has “yet to scratch the surface” in expanding its reach to new consumers and retailers with TAB- or how the new lending product will aid consumers most impacted by COVID-19. But as the pandemic continues to affect the fundamentals of retail, and the trend for digital shopping continues to surge, Arduz says its new service will meet the demands of modern consumers and continue FlexShoppers mission of flexible, affordable purchasing.
“We've seen that the pandemic has accelerated digital and online channels, and we have our sights set on taking advantage of that,” Arduz says. “It has always been our focus and we are well positioned to capitalise on this. It all goes back to our mission of helping consumers get what they want when they want, and that vision is the same for FlexLending, thanks to our relationship with TAB Bank.”
- Vodeno's Head of Payments talks BaaS & new fintech trendsFinancial Services (FinServ)
- VizyPay's Frank Pagano on launching a successful startupDigital Payments
- Transact365's Sophie Flynn on going from football to fintechDigital Payments
- FlexShopper: Flexible Payment SolutionsFinancial Services (FinServ)