Katapult’s Merchant Partners Can Now Benefit from an Innovative Lease-to-Own Solution That Offers a Best-In-Class Experience for Underserved, Nonprime Consumers.
PLANO, Texas, May 30, 2024 (GLOBE NEWSWIRE) -- Katapult today announced it has launched the Katapult Cartridge for B2C Commerce on Salesforce AppExchange, a leading enterprise marketplace for partner apps and experts, empowering merchant partners to reach underserved, nonprime consumers who often don’t have access to traditional financing or credit.
Katapult Cartridge for B2C Commerce The Katapult Cartridge for B2C Commerce, a scalable, omnichannel solution, is integrated directly with Salesforce and currently available on AppExchange. For consumers who have nonprime credit, Katapult’s lease-to-own (“LTO”) offering enables new paths to obtain durable goods. Customers have several options to acquire ownership of the product they are leasing and because Katapult never charges late fees or penalties and clearly and transparently communicates terms and conditions, customers understand the full cost of ownership at the outset of the lease.
Comments on the News
”We believe that our LTO solution offers significant benefits to both consumers and retailers,” said Orlando Zayas, CEO of Katapult. "Our LTO solution broadens the addressable market for retailers by allowing them to tap into the millions of consumers that don’t have access to traditional financing. With our fair and transparent lease terms, we empower consumers to lease the durable goods they need, when they need them, which our customers love. We have consistently high net promoter scores and repeat purchase rates and we believe a partnership with Katapult will be accretive to those retailers who choose to integrate our LTO solution.”
Casper, a Salesforce platform customer, recently joined Katapult's growing retail community. "Casper partnered with Katapult so that customers who may not have been able to shop with us before will have the financial power to obtain our innovative sleep solutions,” said Rachel Pedicini, Vice President of E-commerce at Casper. “We are excited about the potential to provide access to our high-quality bedding products to even more consumers across the United States."
“Katapult Cartridge for B2C Commerce is a welcome addition to AppExchange, as it accelerates business transformation by giving retailers access to a new customer base: the non-prime consumer,” said Alice Steinglass, Executive Vice President and General Manager, Platform, Salesforce. “AppExchange is constantly evolving to connect customers with the right apps and experts for their business needs.”
About Salesforce AppExchange Salesforce AppExchange, a leading enterprise marketplace for partner apps and experts, empowers companies, developers and entrepreneurs to build, market and grow in entirely new ways. Since its launch in 2006, the platform has grown to include more than 8,000 apps and experts, with over 12 million customer installs. AppExchange connects customers of all sizes and across industries to ready-to-install or customizable apps and Salesforce-certified consultants to solve any business challenge.
Salesforce, AppExchange and others are among the trademarks of Salesforce, inc.
About Katapult Katapult is a technology driven lease-to-own platform that integrates with omnichannel retailers and e-commerce platforms to power the purchasing of everyday durable goods for underserved U.S. non-prime consumers. Through our point-of-sale (POS) integrations and innovative mobile app featuring Katapult Pay™, consumers who may be unable to access traditional financing can shop a growing network of merchant partners. Our process is simple, fast, and transparent. We believe that seeing the good in people is good for business, humanizing the way underserved consumers get the things they need with payment solutions based on fairness and dignity. For more information on Katapult, visit www.katapult.com.
Katapult’s LTO solution provides significant benefits to consumers including:
Customers understand the full cost of the product ownership up-front. There are no surprise fees or compounding interest payments. In fact, there are no late fees, ever.
No long-term obligations for the customer – they can either make recurring payments toward owning the purchase outright or return it at any time.
Financial flexibility that can make an LTO purchase more attractive and accessible than traditional financing.
Hundreds of merchants are leveraging Katapult’s LTO solution to help expand their businesses. Key merchant benefits of a partnership with Katapult include:
Merchants have access to new shoppers who can drive incremental sales
Higher conversion rates and lower cart abandonment
Opportunities to drive repeat customer purchase rates up
No merchant recourse from customer defaults
Katapult covers all interchange costs related to the transaction
No risks from out-of-window returns
Consumers interested in unlocking financial purchasing power through personalized lease-to-own plans can download our app in the Apple App Store or Google Play. For more information on our LTO offering, consumers can also visit our website.
Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements may be identified by words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “plan,” “potentially,” “predict,” “should,” “will,” “would,” or the negative of these terms or other similar expressions.. These forward-looking statements include, but are not limited to, statements regarding the success of our partnership with Salesforce and the benefits of our LTO platform. These statements are based on various assumptions, whether or not identified in this Press Release, and on the current expectations of Katapult’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Katapult.
Media Contact: Jennifer Kull Katapult ir@katapult.com
