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.
Media Contact: Veronica Alvarez, 281-512-6134 veronica@snackbox.us; Investor Contact: Jeff Chesnut, 972-801-1108, jeff.chesnut@upbound.com