Progressive Leasing Launches ProgCentral, a New Lease-to-Own Experience for Merchants
September 07, 2021 at 08:30 am EDT
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Progressive Leasing, owned by PROG Holdings, Inc. has launched ProgCentral, a new retailer management platform that allows merchants to easily manage every aspect of their lease-to-own business from a computer, tablet, or mobile device. ProgCentral offers retailers increased self-service management of their lease-to-own offerings through Progressive Leasing while increasing the speed and ease of the lease-purchase process for customers. Its numerous functionality updates include a streamlined user experience and enhanced search, reporting, and security features. The new platform, which was developed in-house by Progressive Leasing, also gives merchants the ability to transfer an approved lease within the same retail chain. This allows customers to initiate a lease online and complete the transaction in store, or to apply for a lease at one physical store location and finalize the purchase at another due to added product availability or convenience. The launch of ProgCentral follows Progressive Leasing’s recent release of enhanced one-click retailer plug-ins for Magento 2 and WooCommerce that simplify the retailer integration and customer application processes while shortening the time between lease application and checkout completion.
Rollout of the new portal to the thousands of e-commerce and brick and mortar stores offering Progressive Leasing’s payment options has already begun. The Company expects to complete the partner transition to ProgCentral by the end of first quarter of 2022.
PROG Holdings, Inc. is a fintech holding company that provides payment options and inclusive consumer financial products. Its Progressive Leasing segment is provider of e-commerce, app-based, in-store point-of-sale lease-to-own solutions provider. The segment provides consumers with lease-purchase solutions through its point-of-sale partner locations and e-commerce Website partners. It does so by purchasing the merchandise from the POS partners desired by customers and, in turn, leasing that merchandise to the customers through a cancellable lease-to-own transaction. Its Vive segment primarily serves customers that may not qualify for traditional prime lending offers who desire to purchase goods and services from participating merchants. Vive offers customized programs with services that include revolving loans through private label and Vive-branded credit cards. Its Four segment provides consumers of all credit backgrounds with BNPL options through four interest-free installments.
PROG HOLDINGS, INC. 
