HP expands financing options
July 26, 2024
The company announced new, comprehensive U.S. consumer financing options for HP products purchased on HP.com.
By leveraging ChargeAfter’s technology and collaborating with three leading financial providers – Bread Financial, Concora Credit and Koalafi – HP can now offer nearly every U.S. consumer a financing option when they shop for personal computers (PCs), printers or peripherals on HP.com.
Finance options include promotional financing to qualified buyers , or lease-to-own options with no credit needed.
“HP believes that everyone has the right to access the technology that powers our world,” said Deborah Baker, VP, Head of Global Payment Solutions at HP. “We have teamed up with leading financial service providers to help empower the creators, the inventors, and the geniuses of tomorrow. Our new financing options give almost any US customer the financing power to purchase the technology they need to work, learn and play.”
With ChargeAfter’s embedded lending platform, HP.com U.S. consumers can now access personalised financing choices from Bread Financial, Concora Credit and Koalafi. By providing some information on HP.com, nearly all U.S. customers are then matched with a suitable financing provider for their specific needs.
“We are excited to support HP’s ongoing commitment to delivering exceptional point-of-sale financing that meets the evolving requirements of their customers and makes cutting-edge technology accessible to all,” said Meidad Sharon, CEO and Founder of ChargeAfter. “This collaboration showcases ChargeAfter’s role as a pivotal partner in revolutionizing point-of-sale financing for major retailers. We look forward to continuing our journey with HP, driving innovation and customer satisfaction together.”
Bread Financial will initially offer a private label credit card and buy now, pay later options in 2025. Customers will first prequalify with Bread Financial on HP.com for all financing options with minimal customer data required.
“As a leader in promotional financing in the consumer technology vertical, Bread Financial is proud to extend our capabilities and seamlessly offer a tailored payments experience to HP’s customers,” said Val Greer, Executive Vice President and Chief Commercial Officer, Bread Financial. “We look forward to helping HP drive sales and empower their consumers with the right financing options for their specific needs.”
Concora Credit can help HP non-prime consumers gain access to credit. With non-prime credit cards, customers can spread their payments over time to meet their budget needs.
“At Concora Credit, we are focused on helping non-prime consumers do more with credit and are excited to work with HP to help their qualified customers gain access to leading technology,” said Bruce Weinstein, President and CEO of Concora Credit Inc.
Koalafi offers lease-to-own financing to consumers who may not qualify for traditional loans. With a lease, customers can make fixed payment amounts over a maximum of 12 or 24 months and have the flexibility of paying off their lease early to lower financing costs.
“The HP team shares our passion for delivering exceptional experiences to every customer, regardless of where they are on their financial journey,” said Boomer Muth, CEO of Koalafi. “HP’s technology has the power to positively transform lives and ignite joy, and we’re thrilled to help more consumers seamlessly access HP products.”
HP’s new financing options from Bread Financial (private label credit card) and Koalafi (lease-to-own) are now available to HP.com customers in the United States. Financing options from Concora Credit are expected to be added in August 2024 and buy now, pay later options from Bread Financial are expected in early 2025.
HP plans to expand to other HP.com stores in other markets in the future.
Categories : Around the Industry
Tags : Buy Ecommerce Finance Options HP Inc USA
