BOCA RATON, Florida, March 5, 2014 / PRNewswire / – For Justin quintana, Managing Director of Matelas Demi-Prix at West Palm Beach, Florida, arranging financing for clients with credit problems was an expensive and time consuming option. It involved faxes and approval delays that put sales at risk, not to mention the finance company’s 6% fee.
“All of that changed when we partnered with FlexShopper,” said Quintana. “We can now offer a hire-purchase option to almost anyone who comes in. Customers can make a request on their smartphone. Customers have given me their smartphones with their FlexShopper approval before I even finished explaining the service. And FlexShopper doesn’t charge me anything. “
FlexShopper (OTCQB: FPAY), a new fintech platform for online and physical retailers, is a game-changer for merchants and customers. The company is the first major web-based financial option for leasing (LTO). It takes LTO business out of the hands of traditional buy-to-buy stores and puts it on consumers’ web browsers and mobile devices. Now, shoppers can get the furniture, appliances, electronics, and other branded products they want, in the places they like to shop, in minutes, for affordable weekly payments.
“It’s estimated that over 50 million Americans could use a hire-purchase option for the things they want to buy, but only five to six million of those consumers are currently served, mostly by two large retail chains. hire purchase. ,” mentionned Brad bernstein, president and chief financial officer of FlexShopper. “We believe that these buyers – and this source of retail revenue – can be addressed and significantly expanded through a web service.”
LTO for the digital age
With its patent pending online LTO technology, FlexShopper offers consumers the freedom of choice. The company plans to partner with online and physical retailers of all sizes, allowing shoppers to bring home branded products to all of their favorite stores. For merchants, FlexShopper will provide powerful new revenue streams to stores by saving sales involving customers who otherwise could not buy. Best of all, FlexShopper delivers the full purchase amount to the merchant, no commission or discount is deducted.
FlexShopper offers its market-as-a-service payment method to retailers, e-merchants and the general public, and is easily accessible at the point of sale. The company will also launch its technology in the coming weeks as a plug-in for online e-commerce sites as a PayPal-style alternative for renting with option to buy. Finally, it plans to open its own FlexShopper.com website, where thousands of branded products will be available for LTO purchase in early March. FlexShopper welcomes product feeds from leading e-merchants and retailers who want to increase their sales with this demographic.
Easy customer conditions
FlexShopper completely automates the rental request process with option to buy. Consumers can be approved for a personal spending limit within two minutes via a smartphone, tablet, or web browser; all that is required is that the customer is at least 18 years old, has a source of income and an active bank account or prepaid debit card. No credit check is required; plus, there are no hidden costs or long-term commitments.
The initial terms of the FlexShopper lease are short term. Buyers have the option to purchase their merchandise at any time during the first 90 days for the original cash price plus $ 50. Customers can use their predefined FlexShopper spending limit to purchase more than one item. At the end of the lease term, if the customer does not wish to purchase the item, they simply return it.
Rising sales often result
At Half-Price Mattress, Quintana says it has often seen increases of 20-30% through FlexShopper, as the company can typically approve the customer for more than the original purchase amount. A customer, he pointed out, bought a $ 1,700 sectional of the sales area, all thanks to FlexShopper.
“If people are ‘on the close’ about a buy, FlexShopper can be the difference that closes the sale,” he said. “It’s like adding gasoline to our sales fire.”
About FlexShopper (www.FlexShopper.com):
Situated at Boca Raton, Florida, FlexShopper, Inc. (OTCQB: FPAY) is transforming the Leasing Industry (LTO) from a storefront business to an e-commerce marketplace / digital payment method. With FlexShopper, LTO consumers are no longer limited to LTO chains with their limited merchandise. Instead, they can get whatever merchandise they want (furniture, appliances, electronics, musical instruments, sporting goods, jewelry, and more) from participating brand name stores and online merchants. Approval only takes a few minutes. In addition to partnerships with merchants, FlexShopper offers its own LTO commerce site at FlexShopper.com.