Katapult Adds iBUYPOWER to Its Growing List of Merchant Partners
21 December 2022 - 12:00AM
Katapult Holdings, Inc. (NASDAQ: KPLT), a provider of
lease-purchase solutions for omnichannel retailers and their
customers, has partnered with iBUYPOWER, a leading
manufacturer of high-performance custom gaming PCs, to provide
consumers with a path to purchase high-quality gaming equipment.
With interest rates and the cost of goods
continuing to rise, American consumers are feeling the pinch this
holiday season. Those living paycheck to paycheck, without credit,
or with nonprime credit are especially vulnerable. Throughout this
period of economic uncertainty, many consumers are turning to
flexible payment options that work with their lifestyle and budget
and that allow them to split payments over time. With more
retailers offering alternative payment solutions, such as
lease-to-own, more consumers will be able to obtain the items they
need, including gaming equipment, furniture, tires, and more.
“iBUYPOWER has been providing quality, reliable,
and affordable custom-built PCs for gamers, content creators, and
everyday consumers for over twenty-three years,” said Jeffrey
Cheng, Senior Director of Marketing and Sales for iBUYPOWER. “We
are excited to partner with Katapult to further enable our
customers to more readily attain the technology that comes with
purchasing a new PC.”
This holiday season, flexible payment options
could be one of the only ways for nonprime credit consumers to
obtain gifts for their loved ones. According to a study conducted
by Katapult, more than three-quarters of consumers with nonprime
credit scores or lower (78%) said they would use a flexible payment
option to buy presents this holiday season, if offered by the
online or physical stores where they shop. Katapult’s lease-to-own
solution gives consumers the ability to shop from merchants they
trust and spread out their payments over time.
“Quality gaming equipment makes a fun-filled
gift, but can run from $1,000-$3,000, placing it out of reach for a
segment of consumers,” said Orlando Zayas, CEO at Katapult. “For
those looking to purchase these products for themselves or others
over the holidays, lease-to-own can help make their dollars go
further. Creating this partnership at a stressful time of year for
consumers can provide more people with the ability to obtain the
gaming items they want to make their holiday season special.”
Katapult offers consumers transparent, flexible,
and convenient lease-purchase options that enable them to obtain
goods they might not be able to acquire otherwise, providing them
with more choice and purchasing power. The company’s lease-purchase
solution also integrates seamlessly with online platforms from
merchants across several durable goods sectors. Funding is quick
and easy and there is little work to be done on the merchant’s part
to implement the payment option. Additionally, retailers that offer
Katapult can attract and convert more shoppers, increase
transaction volume, and build customer loyalty.
The partnership illustrates the strength of the
gaming industry and the expansion of lease-to-own into new and
varied consumer categories. In addition to iBUYPOWER, Katapult
added 23 new merchant partners to its roster in Q3 2022 and plans
to continue signing on additional brands across industries in the
new year.
To keep up with recent announcements,
visit Katapult’s News page. To learn more about
Katapult, click here.
About Katapult Katapult is transforming the
world of lease-to-own with transparent lease-purchase plans that
flex to meet the needs of millions of shoppers who are overlooked
by traditional financing. With proprietary artificial intelligence
(AI) and machine learning (ML) risk-modeling technology, Katapult
predicts consumer behavior more accurately than traditional credit
scores—providing new paths to ownership for people and new
customers for omnichannel retailers. Katapult ensures exceptional
experiences with seamless integration, both directly with merchants
and through ecommerce platforms, and award-winning customer
service. Visit www.katapult.com to learn more.
About iBUYPOWER Since 1999, iBUYPOWER has
embodied its core beliefs of Perseverance, Unity, Strength, and
Ambition, to deliver on its promise to build the best gaming
systems for the most discerning gamers. Even in a time when PCs
were not as ubiquitous as they are today, we fueled the passion for
gaming by giving our customers the highest quality in custom built
computers. Our systems have since become the backbone for
professional gamers, game developers, LAN centers, major esports
tournaments, collegiate esports, and everyday consumers. iBUYPOWER
has worked intimately with brands such as Intel, NVIDIA, AMD,
Microsoft, WD, ASUS, Bethesda, MLG and many more. Superior
performance, reliability, cutting edge technology and timely
production make iBUYPOWER the authority in PC gaming.
Investor Inquiries: Katapult Vice President of
Investor Relations Bill Wright 917-750-0346
bill.wright@katapult.com
Press Inquiries: Allison + Partners
908-930-0835 katapult@allisonpr.com
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