We’re partnering with Katapult to provide an easy way for shoppers to lease items that they may not be able to afford at once but can sign an agreement to pay for the leased item over time. Rave has come up with this innovative approach because we know how important it is for customers to feel in control when they shop online.
Our goal is not only to help merchants let their users find what they need but also to give them the opportunity to shop for things now without having to worry about hard deadlines or unexpected expenses later on down the line.
Half the US has a FICO score below 700, and alternative checkout options are limited.
Even for customers with good credit who would like to purchase something in an amount between $100-400 it can be difficult to get the item without alternative payment options at checkout that offer them options to pay over time or lease-to-own.
Non-prime individuals also face difficulties when trying to find options at checkout with the brands they love since retailers are only now becoming more open to offering lease-own programs. These options allow shoppers the choice to make agreed-upon payments over time and provide the customer the option to pay off the item within 90 days and own it in full*, return the item to the lease-to-own provider at any time and not make any additional payments other than past payments owed, or pay the lease-agreement amount in full and own the item at the end of the agreed-upon term.
Here’s where Katapult comes to the rescue. Katapult offers customers a lease-purchase transaction with no long-term obligation and options for the ownership of the stuff of their choice.
*To exercise the 90-day early purchase option customers can contact Katapult or visit the customer portal page for the most up-to-date account information related to their lease-purchase agreement.