FlexShopper, Inc. Reports New Point-of-Sale (POS) Program with 127-Store Retailer
May 16 2019 - 8:30AM
FlexShopper, Inc. (Nasdaq:FPAY) (“FlexShopper”), a leading
national online lease-to-own (“LTO”) retailer and omnichannel LTO
payment solution provider, today announced that a new 127-store
retail chain will adopt its LTO “save the sale” program, which is
expected to roll out beginning on June 3rd.
Brad Bernstein, CEO, stated, “We continue to see
tremendous interest in our ‘save the sale’ LTO program as evidenced
by this new partnership. Our continued success and penetration at
retail POS is a clear testament to the value proposition we offer
retailers and consumers, and we are excited to sign up this new
retail partner.”
About FlexShopperFlexShopper,
Inc. (FPAY) is a leading omnichannel provider of lease-purchase
solutions for non-prime consumers and for retailers. For shoppers,
a simple application completed online or in store provides
immediate purchasing power to non-prime consumers. For retailers,
we provide an attractive alternative to their non-prime retail
customers, which helps them “save the sale” and increase their
business. Our unique, proprietary technology platform serves both
B2C and B2B channels. FlexShopper’s largest direct to consumer
channel is its LTO marketplace (www.flexshopper.com), which
features over 150,000 items drop-shipped by some of the nation’s
largest retailers. FlexShopper’s B2B channels include its mobile
LTO point-of-sale technology and its LTO payment option on
retailers’ ecommerce sites. FlexShopper approves consumers
utilizing its proprietary consumer screening model, collects from
consumers under an LTO contract and pays its retail partners for
the goods.
Forward-Looking StatementsAll
statements in this release that are not based on historical fact
are “forward-looking statements” within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements, which are based
on certain assumptions and describe our future plans, strategies
and expectations, can generally be identified by the use of
forward-looking terms such as “believe,” “expect,” “may,” “will,”
“should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,”
“anticipate,” or other comparable terms. Examples of
forward-looking statements include, among others, statements we
make regarding expectations of the roll-out of our LTO “save the
sale” program with retailers, the expansion of our lease-to-own
program; expectations concerning our partnerships with retail
partners; investments in, and the success of, our underwriting
technology and risk analytics platform; our ability to collect
payments due from customers; expected future operating results and;
expectations concerning our business strategy. Forward-looking
statements involve inherent risks and uncertainties which could
cause actual results to differ materially from those in the
forward-looking statements, as a result of various factors
including, among others, the following: our limited operating
history, limited cash and history of losses; our ability to obtain
adequate financing to fund our business operations in the future;
the failure to successfully manage and grow our FlexShopper.com
e-commerce platform; our ability to maintain compliance with
financial covenants under our credit agreement; our dependence on
the success of our third-party retail partners and our continued
relationships with them; our compliance with various federal, state
and local laws and regulations, including those related to consumer
protection; the failure to protect the integrity and security of
customer and employee information; and the other risks and
uncertainties described in the Risk Factors and in Management’s
Discussion and Analysis of Financial Condition and Results of
Operations sections of our Annual Report on Form 10-K and
subsequently filed Quarterly Reports on Form 10-Q. The
forward-looking statements made in this release speak only as of
the date of this release, and FlexShopper assumes no obligation to
update any such forward-looking statements to reflect actual
results or changes in expectations, except as otherwise required by
law.
Contact:Jeremy HellmanSenior
AssociateThe Equity Group212-836-9626jhellman@equityny.com
FlexShopper, Inc.Investor
Relationsir@flexshopper.com
FlexShopper, Inc.
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