FlexShopper Partners with Terrace Finance to Expand Merchant Opportunities
August 26 2024 - 8:00AM
FlexShopper, Inc. (Nasdaq: FPAY), a prominent national online
lease-to-own retailer and payment solutions provider, announces a
partnership with Terrace Finance Corp, one of the most diverse
financing waterfall platforms. The relationship integrates
FlexShopper’s robust lease-to-own (LTO) services into Terrace
Finance’s multi-provider platform, enhancing consumer payment
solution options for over 800 retail merchant locations at the end
of the second quarter of 2024 with another 500 retail locations
expected by the end of 2024. During the second quarter of 2024,
applicants were approved for over $4.6 million of fundings.
FlexShopper specializes in providing flexible LTO solutions
tailored for underserved consumers and retail merchants across
various sectors. By integrating FlexShopper’s LTO services, Terrace
Finance further expands its payment offerings to include
FlexShopper’s current and future financing options. These solutions
are seamlessly integrated into a merchant’s brick and mortar,
point-of-sale systems and eCommerce platforms. By providing
additional payment solutions, merchant partners are positioned to
expand conversion, and increase repeat purchases.
"I am excited to announce our partnership with Terrace Finance,
as more and more merchants look for partners to provide expanded
payment solutions to their customers," said Russ Heiser, CEO at
FlexShopper. "Our partnership with Terrace Finance provides unique
opportunities that align with our mission of providing flexible
payment options for consumers.”
Mr. Heiser continued, “Terrace Finance’s commitment to support
multiple vertical markets is helping expand FlexShopper’s payment
solutions to more merchants. Our full integration with Terrace’s
platform along with our instant LTO decision-making system has
improved the customer experience. We expect our partnership with
Terrace Finance and the addition of Spanish language options to
support our growth in 2024 and beyond."
Terrace Finance provides merchants with a simple way to deploy
multiple payment solutions, enabling more customer sales and
increasing average ticket values. Terrace Finance supports the
entire financing needs of its merchant partners, providing both
commercial and consumer solutions, including options to fund
merchant partners to help them grow their own business. Terrace
Finance prides itself on providing customers with outstanding
customer service with live agents available seven days a week.
"As a leading digitally enabled LTO provider, FlexShopper is
uniquely positioned to provide payment solutions within the Terrace
Finance platform," said Andy Hopkins, CEO of Terrace Finance. "We
now provide our merchants with an expanded payment waterfall,
driving additional sales opportunities and providing enhanced
offerings to consumers. By continuing to work in close partnership
there are limitless opportunities to be mutually successful, while
providing better solutions for our merchants and applicants."
Robin Eitel, SVP of Sales & Marketing at Terrace Finance
continued, “I am thrilled to announce the launch of our joint
Spanish language capabilities. This is certain to increase the
access to payment solutions for more underserved consumers. This,
combined with our shared initiatives, provides our partnership with
extensive near-term growth opportunities.”
If you are a merchant interested in offering FlexShopper’s LTO
solution through the Terrace Finance platform, please
contact sales@terracefinance.com or sign up at
terracefinance.com/merchant-sign-up.
About Terrace Finance Corp:Terrace Finance offers a robust
series of financial waterfalls servicing its merchant partners and
their commercial and consumer customers. The technology supports
brick-and-mortar, point-of-sale, and eCommerce integrations. Today
Terrace Finance services over 4,000 retailers with financial
solutions. Terrace Finance enhances their integration with
merchants by handling the full lifecycle of the applicants, from
origination through funding. More information can be found at
terracefinance.com on our programs and solutions.
About FlexShopper, Inc.:
FlexShopper, Inc. is a leading national financial technology
company that provides payment options to consumers. FlexShopper
provides a variety of flexible funding options for underserved
consumers through its online direct to consumer marketplace
at Flexshopper.com and in partnership with merchants both
online as well as at brick-and-mortar locations. FlexShopper’s
solutions are designed to meet the needs of a wide range of
consumer segments via lease-to-own and lending products.
Company Contact:FlexShopper, Inc.Investor
Relationsir@flexshopper.com
Investor and Media ContactAndrew BergerManaging DirectorSM
Berger & Company, Inc.Tel (216) 464-6400andrew@smberger.com
Source: FlexShopper, Inc. 2024 GlobeNewswire, Inc.
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