Progressive Leasing Selected as Exclusive Provider of Lease-To-Own Purchase Options for Samsung.com
July 27 2022 - 7:05AM
Business Wire
Progressive Leasing, a leading provider of e-commerce,
app-based, and in-store lease-to-own solutions owned by fintech
holding company PROG Holdings, Inc. (NYSE:PRG), announces an
agreement with Samsung Electronics America, a leader in mobile
technologies, consumer electronics, home appliances and enterprise
solutions, to be the exclusive provider of lease-to-own purchase
options for Samsung.com.
With the addition of Progressive Leasing’s flexible and
transparent lease-to-own purchase options, customers visiting
Samsung.com now have access to instant application decisioning for
products like smartphones, tablets, laptops, smartwatches, audio
equipment, televisions, and home appliances.
“We are thrilled that Samsung Electronics America selected
Progressive Leasing as the exclusive lease-to own provider for
their e-commerce site and are excited to offer Samsung.com
customers flexible purchase options alongside our top-tier customer
care and support,” said Progressive Leasing Chief Commercial
Officer Mike Giordano. “The decision by one of the world’s largest
direct-to-consumer providers of mobile devices, consumer
electronics and home appliances to exclusively partner with
Progressive Leasing further cements our position as the leader in
the virtual lease-to-own market and I look forward to the value
this partnership will bring to our shared customers.”
“Our customers, particularly Millennials and Gen Z, tell us they
love our flagship and premium products, but they need flexible
payment options,” said Nihar Shah, Senior Director, eCommerce
Strategy & Operations, Samsung Electronics America. “We’re
pleased to work with Progressive Leasing to make our premium
portfolio of products accessible to a broader audience, while
offering another way for people to conveniently manage their
finances.”
Retailers that want to add convenient and accessible
lease-to-own payment options to their e-commerce, app, or in-store
checkout processes can learn more about Progressive Leasing’s
flexible payment offerings at https://progleasing.com.
About Progressive Leasing
Progressive Leasing is a leading provider of in-store,
ecommerce, and app-based point-of-sale lease-to-own solutions that
provide transparent and competitive payment options and flexible
terms intended to help credit challenged customers achieve
merchandise ownership. The company has helped millions of consumers
acquire furniture, appliances, jewelry, electronics, mattresses,
cell phones, and other products consumers need by utilizing a
technology-based proprietary platform that provides instant
decisioning results. Progressive Leasing is owned by PROG Holdings,
Inc. (NYSE:PRG), a fintech holding company based in Salt Lake City,
Utah. More information on Progressive Leasing can be found on the
company’s website, https://progleasing.com.
About PROG Holdings, Inc.
PROG Holdings, Inc. (NYSE:PRG) is a fintech holding company
headquartered in Salt Lake City, UT, that provides transparent and
competitive payment options to consumers. The Company owns
Progressive Leasing, a leading provider of e-commerce, app-based,
and in-store point-of-sale lease-to-own solutions, Vive Financial,
an omnichannel provider of second-look revolving credit products,
and Four Technologies, a provider of Buy Now, Pay Later payment
options through its platform, Four. More information on PROG
Holdings' companies can be found at
https://www.progholdings.com.
Safe Harbor Statement
Statements in this news release regarding our business that are
not historical facts are “forward-looking statements” that involve
risks and uncertainties which could cause actual results to differ
materially from those contained in the forward-looking statements.
Such forward-looking statements generally can be identified by the
use of forward-looking terminology, such as “believe”, “can” and
similar forward-looking terminology. These risks and uncertainties
include factors such as (i) Progressive Leasing failing to realize
the benefits we expect from its agreement with Samsung Electronics
America; (ii) Progressive Leasing failing to maintain its exclusive
arrangement with Samsung Electronics America; (iii) continued
volatility and challenges in the macro environment and, in
particular, the unfavorable effects on our business and the
businesses of our point of sale (“POS”) partners of the rapid
increase in the rate of inflation currently being experienced in
the economy; (iv) the impact of the COVID-19 pandemic on our
customers, financial performance, and POS partners; and (v) the
other risks and uncertainties discussed under “Risk Factors” in the
Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2021, filed with the SEC on February 23, 2022, and in
our subsequent SEC filings. Statements in this press release that
are “forward-looking” include, without limitation, statements about
the impact of Progressive Leasing’s exclusive arrangement with
Samsung on our revenues and earnings. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Except as required
by law, the Company undertakes no obligation to update these
forward-looking statements to reflect subsequent events or
circumstances after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220727005281/en/
Investor Contact John A. Baugh, CFA VP, Investor
Relations john.baugh@progleasing.com
Media Contact Mark Delcorps Director, Corporate
Communications media@progleasing.com
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