FPAY
- FlexShopper, Inc.
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Overview
Company Summary
FlexShopper, Inc., commonly known as FlexShopper, is a publicly traded company and a leading provider of lease-to-own (LTO) and rental services for consumers. The company operates primarily in the United States, offering flexible payment solutions that allow consumers to lease a wide range of durable goods, including electronics, appliances, furniture, and more.
FlexShopper targets consumers who may not have the means or desire to purchase products outright, providing them with an alternative financing option. Through their online platform and partnership with various retailers, FlexShopper enables customers to choose from a large catalog of products and acquire them through affordable lease payments.
The process works as follows: Customers browse the FlexShopper website or app and select the desired item(s). They then apply for immediate approval of a lease agreement and, upon approval, make a small upfront payment. The remaining cost is then divided into weekly, bi-weekly, or monthly lease payments, providing customers with flexibility in managing their budget.
One of the key advantages of FlexShopper is their focus on catering to customers with less-than-perfect credit scores. By providing lease-to-own options, they make it easier for individuals who may not qualify for traditional credit financing to access necessary goods. Furthermore, the company reports customer payment performance to credit bureaus, which can help customers rebuild their credit history.
In addition to their lease-to-own services, FlexShopper also offers a rental program. This allows customers to rent products for shorter durations, including one-week or one-month periods. The rental option serves consumers who might need a specific item for a limited period, such as individuals hosting events or those looking to try out a specific product before committing to ownership.
Overall, FlexShopper operates as a provider of flexible payment solutions, enabling consumers to access desired products through lease-to-own or rental arrangements. Their services are designed to meet the needs of individuals with varying credit profiles and limited financial resources.