goeasy Ltd. Launches Point-of-Sale Financing Platform with Sears Canada Inc.
MISSISSAUGA, ONTARIO - (Marketwired - Nov. 2, 2016) - goeasy Ltd. (TSX:GSY), ("goeasy" or the "Company"), a leading full-service provider of goods and alternative financial services that improve the lives of everyday Canadians, has launched a point-of-sale financing platform with Sears Canada Inc. ("Sears") that was previously announced in March of this year. The point-of-sale financing platform provides financing alternatives for Sears Canada customers who purchase large ticket items and the initial launch included 168 Sears locations across the country. 30 additional stores in Quebec are scheduled for launch in early 2017.
This launch is an important milestone in the Company's history as it is the first time a retail customer can apply for and receive point-of-sale financing across the credit spectrum using a single, streamlined electronic application process. Depending on the customer credit profile, either Sears Canada or easyfinancial will extend credit for such purchases. easyfinancial's point-of-sale financing platform provides the back-end support system and loan servicing needed, and the in-store process is designed to make the transaction smooth and straight-forward for Sears customers.
"We are thrilled to be joining with Sears Canada to help provide their customers, regardless of their credit profile, with an integrated customer experience that removes any possible friction from retail financing. This transformational solution is the first of its kind in Canadian retail and we are excited to be at the forefront of this technology," said Jason Mullins, goeasy's Executive Vice President and Chief Operating Officer.
The platform is supported by goeasy's next generation indirect tablet application and allows customers to complete one single credit application in store, giving them a credit decision in minutes. "Core to our business is providing financing solutions for all customers regardless of their credit situation. Being able to support that with an in store experience that is fast, simple and transparent was critical to the execution of this program," said Mr. Mullins. "The launch of this program will allow Sears to offer financing to a larger market than ever before, and we are excited about the sales growth this can drive for both organizations."
goeasy Ltd. is a 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 175 easyhome Leasing 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.
President and Chief Executive Officer
Executive Vice President and Chief Financial Officer