To allow for greater consumer choice as to whether they want to buy or lease merchandise, Rent-A-Center has entered a partnership with ChargeAfter that will allow retailers to add a preferred lease option to ChargeAfter’s consumer point of sale financing product.
ChargeAfter, a multi-lender technology platform that provides buy now pay later financing and lease options at in-store or online point of sale, will integrate the preferred lease option to give consumers additional checkout options. The platform provides a faster go-to-market capability as the technology gives retailers a single means to serve a broader consumer base, Rent-A-Center stated.
“We are thrilled to be partnering with ChargeAfter and believe the innovative technology platform will enable an improved and more consistent customer experience for our preferred lease retail partners who recognize the value of providing customers with a compelling lease-to-own option in addition to financing options,” said Paul Hamilton, vp/national accounts at Rent-A-Center. “Our differentiated offering of staffed and virtual lease-to-own options increases the revenue opportunity for retail partners by serving both banked and unbanked customers. We believe this new partnership with ChargeAfter will introduce us to new retail partners, speed up the implementation time and reduce integration cost as we grow our preferred lease business. The challenging retail environment due to the pandemic has accelerated conversations with our pipeline of new retail partners, and this partnership further enhances and modernizes our preferred lease offering by improving the customer experience and enhancing our digital capabilities.”