FlexShopper Expands Lease-to-Own Solutions at Jiffy Lube and Meineke Car Care Centers
BOCA RATON, Fla., Dec. 30, 2024 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (NASDAQ:FPAY), a leading provider of lease-to-own (LTO) payment solutions, today announced the successful expansion of its services to new franchisees of Jiffy Lube and Meineke Car Care Centers through a strategic partnership with PayTomorrow, a leading provider of financing technology solutions. This collaboration supports the owner/operator model embraced by franchisees, optimizing sales and profitability across their locations.
"The positive momentum underway at Jiffy Lube and Meineke Tire after successful implementations of our payment solutions is extremely encouraging. Both Jiffy Lube and Meineke Car Care Centers franchisees are recognizing the benefit of additional payment options, which drive higher in-store sales and improve customer outcomes," said Russ Heiser, CEO of FlexShopper. "We feel confident that we will see these brands provide added momentum through 2025 to our robust near-term pipeline of over 2,000 tire and auto retail locations. This is in addition to our over 2,000 current tire and automotive locations with other national retailers."
FlexShopper's lease-to-own solutions have grown rapidly among franchisees of these two iconic brands, scaling from just 8 stores to over 100 locations in a short period. There are approximately 2,100 franchise locations between Jiffy Lube and Meineke Car Care Centers, and FlexShopper's financing options align with the franchisee mentality of maximizing sales, while improving customer satisfaction. Historically, franchise-operated locations have outperformed corporate-owned stores, making this partnership a strategic fit for these entrepreneurial operators.
About Jiffy Lube:
Founded in 1971 and headquartered in Houston, Texas, Jiffy Lube International, Inc. is a subsidiary of Shell plc and a leader in automotive preventive maintenance. With over 2,200 service centers across North America, Jiffy Lube serves approximately 24 million customers annually, providing essential services that help drivers "Leave Worry Behind®."
About Meineke Car Care Centers:
Established in 1972 and headquartered in Charlotte, North Carolina, Meineke Car Care Centers, Inc. operates over 966 locations worldwide. Meineke offers a comprehensive range of automotive repair and maintenance services, including oil changes, brake repair, and tire services, catering to drivers' diverse needs.
About PayTomorrow:
PayTomorrow specializes in bringing innovative financing options to retailers and service providers, empowering consumers to access flexible payment plans tailored to their needs. By integrating advanced financing technologies, PayTomorrow enhances the customer experience while helping retailers increase sales and customer satisfaction.
About FlexShopper, Inc.:
FlexShopper, Inc. (NASDAQ:FPAY) is a financial technology company providing lease-to-own (LTO) and lending solutions to underserved consumers across the U.S. FlexShopper offers flexible payment options through its direct marketplace at FlexShopper.com and partners with retailers in both online and physical store locations.
Company Contact:
FlexShopper, Inc.
Investor Relations
[email protected]
Investor and Media Contact
Andrew Berger
Managing Director
SM Berger & Company, Inc.
Tel (216) 464-6400
[email protected]
Source: FlexShopper, Inc.
