FlexShopper partners with Tire Agent to offer lease-to-own payment solutions, enhancing accessibility for near-prime credit consumers.
Quiver AI Summary
FlexShopper has announced a partnership with Tire Agent, a leading online tire retailer that generates over $100 million in lease-to-own transactions annually. This collaboration integrates FlexShopper’s lease-to-own payment solutions directly onto Tire Agent’s website, making Tire Agent the preferred tire retailer on the FlexShopper marketplace. The partnership aims to support near-prime credit consumers who may struggle to qualify for traditional financing by providing flexible payment options for essential tire purchases. Customers can utilize FlexShopper's PayPair at checkout or visit a dedicated site to access these payment options, helping them afford safe and reliable tires for their vehicles. Both companies are committed to improving access to necessary products for consumers across various credit types.
Potential Positives
- FlexShopper has formed a strategic partnership with Tire Agent, a recognized leader in online tire retail, potentially enhancing its market reach and customer base.
- This collaboration integrates FlexShopper’s payment solutions directly onto Tire Agent’s website, making it easier for consumers to access lease-to-own options.
- The partnership targets near-prime credit consumers, aligning FlexShopper’s mission with Tire Agent’s commitment to providing affordable tire solutions and expanding access to essential products.
- The launch of the dedicated site flexshopper.tireagent.com combines both companies' offerings, promoting a seamless shopping experience for customers seeking flexible payment options.
Potential Negatives
- The press release focuses on a partnership with Tire Agent primarily serving near-prime credit consumers, potentially highlighting FlexShopper's reliance on a market segment that may indicate financial instability in those consumers.
- There is no mention of how this partnership will significantly impact FlexShopper's overall business or financial performance, which may raise concerns about the effectiveness of the collaboration.
- The announcement lacks specific details on the financial terms of the partnership, leaving uncertainty about the potential financial benefits or risks involved for FlexShopper.
FAQ
What is the new partnership announced by FlexShopper?
FlexShopper has partnered with Tire Agent to integrate lease-to-own payment solutions on Tire Agent’s website.
How does this partnership benefit near-prime credit consumers?
This collaboration offers flexible payment options to near-prime credit consumers who may not qualify for traditional financing.
Where can customers access FlexShopper's payment solutions for Tire Agent purchases?
Customers can access the payment option by selecting PayPair at checkout or visiting flexshopper.tireagent.com.
What types of products are available through this partnership?
The partnership provides customers access to a wide range of high-quality tires and wheels.
Who can benefit from FlexShopper's lease-to-own payment solution?
FlexShopper's payment solution is designed for consumers across all credit types, especially those with near-prime credit.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FPAY Insider Trading Activity
$FPAY insiders have traded $FPAY stock on the open market 12 times in the past 6 months. Of those trades, 12 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $FPAY stock by insiders over the last 6 months:
- HOWARD DVORKIN has traded it 12 times. They made 12 purchases, buying 123,847 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FPAY Hedge Fund Activity
We have seen 5 institutional investors add shares of $FPAY stock to their portfolio, and 14 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WATERFALL ASSET MANAGEMENT, LLC added 1,629,547 shares (+inf%) to their portfolio in Q3 2024
- M HOLDINGS SECURITIES, INC. removed 287,000 shares (-100.0%) from their portfolio in Q3 2024
- PERKINS CAPITAL MANAGEMENT INC removed 255,014 shares (-40.9%) from their portfolio in Q3 2024
- UBS GROUP AG removed 45,923 shares (-30.5%) from their portfolio in Q3 2024
- BENCHMARK FINANCIAL WEALTH ADVISORS, LLC removed 34,001 shares (-15.2%) from their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC removed 29,878 shares (-13.5%) from their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 29,579 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BOCA RATON, Fla., Dec. 16, 2024 (GLOBE NEWSWIRE) -- FlexShopper (NASDAQ: FPAY), a leading provider of lease-to-own payment solutions, is pleased to announce a new partnership with Tire Agent. Tire Agent currently originates over $100 million in lease-to-own transactions annually and is a two-time honoree on the Inc. 5000 list of the fastest-growing companies in 2023 and 2024. This new collaboration integrates FlexShopper’s payment solutions directly onto Tire Agent’s website and establishes Tire Agent as the preferred online tire retailer on the FlexShopper marketplace. The partnership also launches flexshopper.tireagent.com as the combination of Tire Agent’s top-tier tire and wheel inventory with FlexShopper’s flexible payment options.
This partnership is tailored to support near-prime credit consumers—individuals who may not qualify for traditional prime financing but still need access to flexible payment solutions for essential purchases. Tire Agent’s dedication to making tire purchases more accessible aligns perfectly with FlexShopper’s mission to offer affordable payment alternatives.
“We are excited to partner with Tire Agent, a company that shares our commitment to improving consumer access to vital products,” said Russ Heiser, CEO of FlexShopper. “Our lease-to-own payment solution provides Tire Agent with the perfect option for near-prime credit customers, allowing them to afford high-quality tires that are essential for their safety and the reliability of their vehicles.”
Through this partnership, Tire Agent customers can access FlexShopper’s payment option by selecting PayPair at checkout and choosing FlexShopper. This allows customers to spread payments over time without the need for traditional credit approvals. Alternatively, customers can visit flexshopper.tireagent.com to take direct advantage of this flexible payment option, giving near-prime credit consumers the confidence to purchase the tires they need to keep their vehicles safe and operational.
“At Tire Agent, we’re dedicated to helping hardworking individuals who rely on their vehicles for everyday tasks—whether it’s commuting to work, driving children to school, or running errands—get the tires they need at an affordable price,” said Jared Kugel, CEO of Tire Agent. “We’re thrilled to partner with FlexShopper, as their payment solution helps us further our mission of providing customers of all credit types with access to safe, reliable, and high-quality tires.”
FlexShopper continues to expand its network of partners to bring flexible payment options to underserved credit tiers. This collaboration with Tire Agent underscores both companies’ shared goal of ensuring consumers have access to the essential products they need to thrive.
For more information about FlexShopper, visit www.FlexShopper.com . To explore Tire Agent’s tire inventory and payment options, visit www.TireAgent.com .
About FlexShopper
FlexShopper is a leading provider of lease-to-own payment solutions, offering consumers a flexible alternative to traditional credit through its LTO program. With a focus on providing access to durable goods and other essential products, FlexShopper empowers customers with payment plans tailored to fit their budgets.
About Tire Agent
Tire Agent is a rapidly growing online tire retailer offering a wide variety of tire brands at competitive prices. Recognized as a two-time honoree on the Inc. 5000 list of the fastest-growing companies, Tire Agent is committed to delivering a seamless and customer-friendly shopping experience for drivers of all credit types.
Company Contact:
FlexShopper, Inc.
Investor Relations
[email protected]
Investor and Media Contact
Andrew Berger
Managing Director
SM Berger & Company, Inc.
Tel (216) 464-6400
[email protected]
