“Our platform has demonstrated the ability to drive impressive sales growth with a best-in-class customer experience,” said Andrew Rostami, president of Citizens Pay. “Citizens Pay helps merchants boost sales and increase consumer loyalty by enabling their customers to make repeat purchases and upgrades in a financially responsible way.”

Citizens Pay provides consumers a better way to finance their large purchases, with easy-to-understand, low fixed monthly payments through a virtual line of credit that can be used for repeat purchases without a new credit application or managing multiple loans. Retailers can benefit from immediate sales and average order value increases by taking advantage of the platform’s best-in-class digital and in-store customer experiences, combined with comprehensive product and financing options for consumers across the credit spectrum. Citizens Pay is easy for merchants to integrate and available to launch in a matter of days while being scalable for the largest and most complex merchants.

Citizens Pay also offers the ability for manufacturers to embed financing into their products as a “Product as a Service”, offered through multiple retailers. This state-of-the art capability was initially launched by Citizens in partnership with Microsoft for the sale of Xbox All Access using integrated Citizens financing at retailers such as Target, Best Buy, WalMart, and GameStop.

In addition to existing partnerships with major consumer electronics brands and retailers, Citizens is focused on further expansion into other retail verticals. Citizens Pay has expanded to:

Retailers in health and fitness, including Horizon Fitness, a subsidiary of Johnson Health Tech, Echelon Fitness, and FitNation, an Echelon subsidiary.
Home improvement contractors, in a partnership with Arlington Financial.
Educational products and services with Wiley Efficient Learning, a company offering exam preparation products across nine disciplines including accounting, finance, and general business.

“The point-of-sale lending space is a high-growth area and attracts customers that exhibit strong credit performance,” added Rostami. “We have invested consistently over time to deliver a state-of-the art payment model and look forward to further accelerating its adoption with Citizens Pay.”

Citizens is a leader in point of sale financing and since the inception of this program over $6.4 billion in loans have been originated and the company has served more than 5 million accounts. The loans in this program aren’t securitized which allows Citizens to maintain a high-quality customer experience as it acquires customers nationally.