FlexShopper, Inc. (NASDAQ: FPAY) shares had difficulty finding traction Wednesday, as the prominent national online lease-to-own retailer and payment solutions provider announced a strategic partnership with the Aftermarket Auto Parts Alliance, a large and growing collection of more than 3,700 independent distributors, auto parts stores, and professional service repair shop locations across North America. With today’s announcement, FlexShopper has expanded its payment solutions to over 7,800 locations representing a 246% increase from the beginning of 2024.
This partnership, supported in collaboration with PayTomorrow and their innovative financing technology, aims to empower customers by providing accessible payment options for automotive repairs and parts. The Aftermarket Auto Parts Alliance includes the Auto Value and Bumper to Bumper brands and boasts a vast network of over 3,700 locations, operated by independent business owners dedicated to delivering automotive diagnostic and service excellence. This collaboration seeks to enhance the payment capabilities of this extensive network of locations, helping consumers manage the costs of automotive care.
“We’re thrilled to partner with the Aftermarket Auto Parts Alliance, an organization that shares our dedication to quality service and customer satisfaction,”said Russ Heiser, CEO at FlexShopper.“By integrating our lease-to-own payment solutions into the over 3,700 member locations of the Aftermarket Auto Parts Alliance, we’re not just making automotive care more affordable; we’re enabling independent automotive shops to thrive in today’s competitive landscape.”
FPAY shares stayed put from Tuesday’s closing price of $1.16.
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