goeasy Announces Point-of-Sale Financing Venture With Sears Canada
MISSISSAUGA, ONTARIO--(Marketwired - March 18, 2016) - goeasy Ltd. (TSX:GSY), ("goeasy" or the "Company"), the leading full service provider of goods and alternative financial services that improve the lives of everyday Canadians, today announced that its subsidiary,easyfinancial Services Inc. ("easyfinancial"), has entered into a framework agreement with Sears Canada Inc. ("Sears") to provide a point-of-sale financing platform for Sears' customers who wish to purchase large ticket items.
The point-of-sale financing platform will utilize the industry's first single source application system for point-of-sale financing across all customers in the credit spectrum. Depending on the customer credit profile, either Sears Canada or easyfinancial will extend credit for such purchases. easyfinancial's point-of-sale financing platform will provide the back-end support system and loan servicing needed, and the in-store process is being designed to make the transaction smooth and straight-forward for Sears' customers. Launch of this program with Sears is subject to negotiation of additional definitive documentation and completion of necessary system and operational enhancements.
"We are excited about this new partnership and the potential sales volume it can provide to both organizations," said David Ingram, goeasy's President and Chief Executive Officer. "When the development and deployment of this point-of-sale financing platform is complete, customers of Sears will be provided with financing alternatives across the broadest credit spectrum available in the marketplace using a seamless application process."
goeasy Ltd. is the leading full service provider of goods and alternative financial services that improve the lives of everyday Canadians. Today,goeasy Ltd. serves its customers through two key operating divisions, easyhome and easyfinancial. easyhome is Canada's largest lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. easyfinancial is the leading provider of alternative financial services, offering consumer loans between $500-$15,000, and is supported by a strong central credit adjudication process and industry leading risk analytics. easyfinancial also operates an indirect lending channel, offering loan products to consumers at the point-of-sale of third party merchants. Both operating divisions of goeasy Ltd. offer the highest level of customer service and enable customers to transact through a national store and branch network of over 180 easyhome and 200 easyfinancial locations across Canada and through its online and mobile eCommerce enabled platforms.
goeasy Ltd. is listed on the TSX under the symbol 'GSY'. For more information, visit www.goeasy.com.
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