Acima Leasing's lease-to-own solution offers
financial inclusion and flexibility to iFIT customers to obtain
iFIT's fitness products
PLANO,
Texas, April 30, 2024 /PRNewswire/ -- Acima
Leasing, one of the nation's leading providers of lease-to-own
("LTO") solutions and a business of Upbound Group, Inc. (NASDAQ:
UPBD), announced an exclusive LTO partnership with iFIT Inc. for
iFIT's interactive fitness products on nordictrack.com and
proform.com.
As a global leader in exercise equipment and fitness content,
iFIT will now be able to provide its growing community of members
with flexible and convenient access to its suite of
industry-leading brands, such as NordicTrack® and ProForm®, by
integrating Acima Leasing's proprietary technology solution. Acima
Leasing's LTO option is a popular alternative for the consumers who
desire the flexibility of a lease compared to relying on credit to
pay for big-ticket items. With Acima's strong approval rates, this
exclusive partnership with iFIT will offer more customers with
less-than-perfect credit histories, or those that prefer not to use
credit, a solution to lease iFIT's renowned fitness equipment.
Retail partners who use Acima's technology on their websites open
the door to a wider audience immediately.
Acima Leasing's solutions will be available on iFIT.com through
an integration with Versatile Credit, a leading customer
acquisition technology platform for merchants. Through Versatile's
platform, customers can be prequalified to receive a credit offer
or, if not eligible for credit, transitioned to other options, such
as LTO. Retailers that include Acima's LTO services in their
Versatile integration will now be able to offer Acima Leasing's LTO
option to shoppers who may not be eligible for prime or near-prime
financing products, helping them find the option that best suits
their budget.
"This partnership with iFIT brings financial inclusivity for
iFIT and its customers. For retailers like iFIT, implementing our
LTO solution can convert more customers and build brand loyalty,"
said Mike Bagull, Acima's SVP of
Business Development and Partnerships. "Adding Acima's leasing
solution allows retailers to meet the needs of a broader range of
consumers including those who receive declines from credit
options."
"Having an exclusive partnership with an industry leader like
Acima Leasing allows our quality fitness equipment to be more
attainable," said Ryan Dunkley,
Chief Digital Officer of iFIT. "Partnering with Acima Leasing
allows us to offer the iFIT experience to even more consumers and
help them reach their fitness goals."
Acima provides best-in-class service to both customers and
retail partners. Its highly responsive development team makes
integration simple for retailers, and its focus on innovative
technology empowers customers to connect with retailers to access
the durable goods they want and need.
Retailers who want to add lease-to-own solutions to their
e-commerce or in-store checkout can learn more about Acima's
offerings at www.acima.com/partner.
About Upbound Group, Inc.
Upbound Group, Inc. (NASDAQ:
UPBD) is an omnichannel platform company committed to elevating
financial opportunity for all through innovative, inclusive, and
technology-driven financial solutions that address the evolving
needs and aspirations of consumers. The Company's customer-facing
operating units include industry-leading brands such as
Rent-A-Center® and Acima® that facilitate consumer transactions
across a wide range of store-based and digital retail channels,
including over 2,400 company-branded retail units across
the United States, Mexico, and Puerto
Rico. Upbound Group, Inc. is headquartered in Plano, Texas. For additional information about
the Company, please visit our website www.upbound.com.
About iFIT Inc.
iFIT® is the #1 provider of large
exercise equipment in the United
States and a global fitness and well-being subscription
technology company that provides unmatched fitness experiences and
solutions. iFIT's industry-leading brands – NordicTrack®, ProForm®,
Sweat®, Freemotion®, Weider® and 29029® – are powered by the iFIT
integrated health and fitness platform. iFIT delivers these
patented interactive experiences through an extensive offering of
live and on-demand content across the industry's broadest range of
connected fitness modalities.
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SOURCE Upbound Group, Inc.
