Acima's Mobile App Puts Lease-to-Own Options at Customer Fingertips
PLANO, Texas, May 9, 2023 - Acima Leasing, one of the nation's leading providers of virtual lease-to-own solutions and a business of Upbound Group, Inc. (NASDAQ: UPBD), has surpassed a milestone of one million installs of its Acima mobile app in less than two years since its original launch. Acima's app enables customers to easily manage their leases and payments, shop in-store or online with retail partners, see their open-to-lease amount, and easily contact customer support.
"Our goal for the Acima mobile app is to provide a seamless and superior customer experience for the entire transaction - from shopping to lease application and lease management to potential ownership," said JC Silotti, Senior Vice President of Product & Customer Experience, Acima. "We always have an eye on the needs of our retail partners and we believe this impressive install milestone will further position our lease-to-own solution to increase conversion and return rates for our valued partners."
"Digital innovation at Acima and our parent company, Upbound Group, fuels financial opportunities for our retail partners and customers at this pivotal point in our economy," said Sudeep Gautam, Executive Vice President, Chief Technology & Digital Officer, Upbound Group, Inc. "The Acima mobile app is a prime example of our dedication to innovation, and the number of installs is a direct reflection of our customers finding value in our efforts."
Acima unlocks a new audience and a broader range of customers for retailers. Accelerating growth and capturing new customers is becoming increasingly important in the current economy, given that millions of U.S. consumers are credit-challenged. Acima provides financial opportunity for its retailer partners and their customers as a leading provider of tech-forward lease-to-own solutions.
About Upbound Group, Inc.
Upbound Group, Inc. (NASDAQ: UPBD) is an omnichannel platform company committed to elevating financial opportunity for all through innovative, inclusive, and technology-driven financial solutions that address the evolving needs and aspirations of consumers. The Company's customer-facing operating units include industry-leading brands such as Rent-A-Center® and Acima® that facilitate consumer transactions across a wide range of store-based and digital retail channels, including over 2,400 company-branded retail units across the United States, Mexico, and Puerto Rico. Upbound Group, Inc. is headquartered in Plano, Texas. For additional information about the company, please visit our website www.Upbound.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements concerning the expected benefits, timing and growth opportunities from the Company's Mobile Application. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," "maintain," "should," "anticipate," "believe," or "confident," or the negative thereof or variations thereon or similar terminology. Such forward-looking statements are based on particular assumptions that our management has made in light of its experience and its perception of expected future developments and other factors that it believes are appropriate under the circumstances, and are subject to various risks and uncertainties. Factors that could cause or contribute to the material and adverse differences between actual and anticipated results include, but are not limited to, consumer acceptance and utilization of the Mobile Application, and other risks detailed from time to time in the reports filed by us with the SEC, including our most recently filed Annual Report on Form 10-K, as may be updated by reports on Form 10-Q or Form 8-K filed thereafter. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release. Except as required by law, we are not obligated to and do not undertake to, publicly release any revisions to these forward-looking statements to reflect any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Upbound Group, Inc.
