Almost half of U.S. consumers don't have a credit score or have a credit score under 700, and according to a survey by the Federal Reserve, 30% need financing in order to make an unexpected purchase of $400 or more. Retailers without a payment solution in place for these nonprime customers, typically defined as individuals with a FICO® score under 670, are leaving a significant number of consumers without the option to checkout with their brand.
Katapult's VP of Marketing, Misti Achilles, recently talked with Retail Dive about why lease-to-own is an important and valuable option for retailers to offer their consumers. Learn more