Rent-A-Center, announced a partnership with ChargeAfter that will allow retailers to add the “Preferred Lease” lease-to-own option to ChargeAfter’s leading consumer point of sale financing solution, providing greater flexibility for customers whether they want to buy or lease retail items.
“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”
ChargeAfter is a multi-lender technology platform used online or in-store for buy now pay later financing options and lease options at the point of sale. ChargeAfter’s market-leading platform provides their global network of eCommerce and retail merchants with multiple personalized financing and leasing options for consumers at checkout. Through this partnership, Preferred Lease will be integrated into the technology platform to provide additional options for consumers. ChargeAfter’s platform provides a faster go to market solution because the technology enables a single solution for retail partners to serve a broader consumer base. Investors in ChargeAfter include PICO Venture Partners, Propel Venture Partners, VISA, MUFG, BBVA, Synchrony, and Plug and Play VC.
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“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 of 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,” concluded Mr. Hamilton.
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