News Release Details

FlexShopper to offer lease-to-own solutions within PayPossible’s waterfall to new merchants, including RANDYS Worldwide, with a retail network of over 20,000 locations

PayPossible to introduce new payment options on FlexShopper.com

BOCA RATON, Fla., Oct. 31, 2024 (GLOBE NEWSWIRE) -- FlexShopper Inc. (Nasdaq: FPAY), a leading national lease-to-own (LTO) retailer and payment solutions provider, has announced a strategic partnership with PayPossible, a top financing waterfall platform. This partnership will integrate FlexShopper’s LTO services into PayPossible’s platform, expanding consumer financing options for a wide range of retail merchants.

As part of this collaboration, FlexShopper.com has chosen PayPossible as its marketplace waterfall solution. Customers visiting FlexShopper.com will be matched with the most appropriate financing solution based on their unique profile. This approach is designed to maximize marketplace conversions while expanding payment options for FlexShopper’s customers. The integration of PayPossible’s advanced waterfall platform into FlexShopper.com will ensure consumers are presented with financing options tailored to their specific financial situation, enhancing their overall shopping experience. FlexShopper’s partnership with PayPossible supports its growth strategy by adding best-in-class partners that expand its competitive advantage and provide customers on FlexShopper.com with more financing options than other retailers.

“We are excited and honored to be the financing waterfall solution of choice for FlexShopper.com, the largest LTO marketplace in the U.S. This partnership allows us to expand the breadth of payment options available to the over 500,000 unique monthly visitors to FlexShopper.com,” said Lance Taylor, CRO at PayPossible. “We are equally excited to have FlexShopper integrated into our brick-and-mortar retail waterfall, allowing merchants to provide more flexible payment options, ultimately increasing sales and customer satisfaction.”

In addition to FlexShopper.com, this partnership supports a seamless customer experience by providing flexible payment options at major retailer and etailer locations, including RANDYS Worldwide.

RANDYS Worldwide, a premier automotive supplier in the U.S., with a retail network of 20,000 locations, boasts national distribution centers that ensure next-day order fulfillment. RANDYS has expanded from its origins to offering a full suite of automotive solutions, including suspension, wheels, and complete axles for trucks and off-road vehicles. RANDYS stands as the ultimate one-stop solution for undercar needs through brands such as:

• Yukon Gear & Axle®: Specializes in rugged, aftermarket drivetrain parts built for high performance
• USA Standard Gear®: A go-to for reliable, affordable OE replacement drivetrain components, for the DIY customer
• Zumbrota Drivetrain®: Renowned for high-quality remanufactured transfer cases, manual transmissions, and axle assemblies.
• ICON Vehicle Dynamics®: An industry leader in advanced performance suspension systems, shocks, and off-road armor.
• Dynatrac™: Known for its ProRock high-clearance off-road axles, engineered for extreme durability.
• Carli Suspension®: Delivers premium suspension systems for both street and off-road, including leveling kits and advanced lift systems.
• Cognito Motorsports: Specializes in suspension and steering parts for trucks and off-road vehicles, enhancing handling and stability.

“FlexShopper is thrilled to partner with PayPossible to offer enhanced financing solutions across a broader retail network,” said Russ Heiser, CEO at FlexShopper. “The launch of our LTO services at RANDYS Worldwide marks an important milestone in our mission to provide affordable payment options to customers nationwide. This growth reflects the success of strategies underway to expand FlexShopper to new brick-and-mortar and online retailers, and highlighting the continued growth in the automotive segment.”

Mr. Heiser continued “Additionally, adding PayPossible’s payment waterfall will allow any customer on FlexShopper.com to easily apply for a payment solution that fits their unique needs, which we believe will increase conversion on our website and align with our strategy to grow revenue and gross profit.”

PayPossible’s platform simplifies the lending process by ensuring consumers receive the best financing offer based on their credit profile. By integrating FlexShopper’s LTO services, PayPossible expands its reach to serve prime and nonprime customers alike.

The integration of FlexShopper into PayPossible's platform represents a major step forward in bringing accessible financing solutions to consumers and retailers. With this collaboration, PayPossible and FlexShopper are poised to offer more affordable, accessible, and convenient purchasing options to a broader audience.

About PayPossible:
PayPossible is a leading waterfall financing provider that enables businesses to offer consumers multiple financing and flexible payment options through a single application at the point of sale. PayPossible’s unique technology aligns lenders with customers based on their specific credit profiles, providing a seamless customer experience and maximizing merchant sales.

About FlexShopper, Inc.:
FlexShopper Inc. (Nasdaq: FPAY) is a financial technology company providing lease-to-own (LTO) and lending solutions to underserved consumers across the U.S. FlexShopper offers flexible payment options for consumers through its direct marketplace at FlexShopper.com and in partnership with retailers both online and in physical store locations.

Company Contact:
FlexShopper, Inc.
Investor Relations
ir@flexshopper.com

Investor and Media Contact
Andrew Berger
Managing Director
SM Berger & Company, Inc.
Tel (216) 464-6400
andrew@smberger.com

Source: FlexShopper, Inc.

Source: FlexShopper, Inc.