Goeasy announces POS finance venture with Sears Canada
goeasy Ltd. (GSY.TO), ("goeasy" or the "Company"), the leading full service provider of goods and alternative financial services that improve the lives of everyday Canadians, today announced that its subsidiary, easyfinancial Services Inc. ("easyfinancial"), has entered into a framework agreement with Sears Canada Inc. ("Sears") to provide a point-of-sale financing platform for Sears' customers who wish to purchase large ticket items.
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The point-of-sale financing platform will utilize the industry's first single source application system for point-of-sale financing across all customers in the credit spectrum. Depending on the customer credit profile, either Sears Canada or easyfinancial will extend credit for such purchases. easyfinancial's point-of-sale financing platform will provide the back-end support system and loan servicing needed, and the in-store process is being designed to make the transaction smooth and straight-forward for Sears' customers. Launch of this program with Sears is subject to negotiation of additional definitive documentation and completion of necessary system and operational enhancements.
"We are excited about this new partnership and the potential sales volume it can provide to both organizations," said David Ingram, goeasy's President and Chief Executive Officer. "When the development and deployment of this point-of-sale financing platform is complete, customers of Sears will be provided with financing alternatives across the broadest credit spectrum available in the marketplace using a seamless application process."