Casper Chooses Katapult to Expand Consumer Access to Its Market-Leading Bedroom Products
October 03 2023 - 7:00AM
Katapult Holdings, Inc. (NASDAQ: KPLT), an e-commerce-focused
financial technology company, is entering a dynamic new partnership
with Casper, the innovative leader in sleep products. Under the
terms of the partnership, Casper has integrated Katapult’s
innovative lease-to-own (LTO) solution into its payment checkout
flow. Casper and Katapult expect this collaboration to unlock
purchasing power for many underserved consumers who don’t have
access to traditional financing options. By integrating Katapult’s
solution, Casper and Katapult can create a path for these consumers
to obtain premium sleep essentials that promote comfort and
well-being, which can lead to a better night's rest.
"Casper partnered with Katapult so that customers who may not
have been able to shop with us before will have the financial power
to obtain our innovative sleep solutions,” said Rachel Pedicini,
Vice President of E-commerce at Casper. “We are excited about the
potential to provide access to our high-quality bedding products to
even more consumers across the United States."
Katapult offers a scalable omnichannel LTO solution that
provides its merchant partners, like Casper, with access to a new
consumer base that previously may not have had the purchasing power
to buy their durable goods. Federal Reserve data show that 37% of
US adults could not cover a $400 emergency expense without
assistance, and there are millions of consumers in the US who do
not qualify for traditional credit financing. LTO offers consumers
who have no or sub-prime credit a new, more affordable path to
purchase durable goods. Katapult’s LTO solution provides
significant benefits to consumers including:
- Customers understand the full cost of the product ownership
up-front. There are no surprise fees or compounding interest
payments. In fact, there are no late fees, ever.
- No long-term obligations for the customer – they can either
make recurring payments toward owning the purchase outright or
return it at any time.
- Financial flexibility that can make an LTO purchase more
attractive and accessible than traditional financing.
"We are pleased to join forces with Casper in order to make
their durable goods such as mattresses and bedroom furniture more
accessible to underserved consumers," said Orlando Zayas, CEO of
Katapult. "Our lease-to-own option is an excellent choice for
merchants who want to empower the millions of consumers who are
routinely overlooked by traditional financing options. We believe
that Casper chose Katapult because our track record speaks for
itself: we have high net promoter scores and customer repeat
purchase rates, demonstrating that consumers who know Katapult –
love Katapult. Our mission is to enable consumers to get the
durable goods they need and to connect merchant-partners with a
growing base of engaged and loyal consumers, and we believe this
partnership is another example of how we are bringing our mission
to life."
Hundreds of merchants are leveraging Katapult’s LTO solution to
help expand their businesses. Key merchant benefits of a
partnership with Katapult include:
- Merchants have access to new shoppers who can drive incremental
sales
- Higher conversion rates and lower cart abandonment
- Opportunities to drive repeat customer purchase rates up
- No merchant recourse from customer defaults
- Katapult covers all interchange costs related to the
transaction
- No risks from out-of-window returns
If you are a retailer interested in directly integrating
Katapult’s LTO solution to boost your business and customer base,
please visit Katapult’s Business Page for more information.
Consumers interested in unlocking financial purchasing power
through personalized lease-to-own plans can download our app in the
Apple App Store or Google Play. For more information on our LTO
offering, consumers can also visit our website.
About Katapult
Katapult Holdings, Inc. (NASDAQ: KPLT) is a technology driven
lease-to-own platform that integrates with omni-channel retailers
and e-commerce platforms to power the purchasing of everyday
durable goods for underserved U.S. non-prime consumers. Through our
point-of-sale (POS) integrations and innovative, mobile app
featuring Katapult Pay™, consumers who may be unable to access
traditional financing can shop a growing network of merchant
partners. Our process is simple, fast, and transparent. We believe
that seeing the good in people is good for business, humanizing the
way underserved consumers get the things they need with payment
solutions based on fairness and dignity.
About Casper
Casper believes everyone should sleep better. The Sleep Company
has a full portfolio of obsessively engineered sleep
products—including mattresses, pillows, bedding, and furniture
designed in-house by the Company’s award-winning R&D team at
Casper Labs. In addition to its e-commerce business, Casper owns
and operates Sleep Shops across North America and its products are
available at a growing list of retailers.
**Media Contact**
KatapultPress Inquiries: Jennifer Kull
ir@katapult.com
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