New technologies give underserved consumers unprecedented access to lease durable goods under flexible LTO transactions with Acima and provide growth opportunities for retailersPLANO, Texas. – August 2, 2021 – <a href="https://www.acima.com/">Acima</a>, a virtual lease-to-own (LTO) Fintech business of Rent-A-Center, Inc. (NASDAQ/NGS: RCII), today launched new game changing LTO technologies that will empower underserved consumers and remove transaction barriers between these consumers and retailers. This includes the Acima Mobile Application, which makes Acima’s entire LTO network available to customers via their handheld device, the Acima MarketPlace™, Acima’s proprietary online shopping platform connecting customers to a wide variety of retailers, and the Acima Browser Extension, the industry’s first browser technology that facilitates LTO transactions to select retailers without the need for technical integration.These new technologies build upon Acima’s commitment to providing easy-to-use and accessible solutions to benefit retailers and consumers. Following the announcement of the Acima LeasePay Card™ in April 2021, consumers can now access the virtual card instantly upon approval from the Acima Mobile App. Powered exclusively by the Mastercard network and issued through Marqeta’s modern card issuing platform, cash and credit constrained consumers can now lease eligible goods through Acima’s new, incremental shopping experience. Together, these new e-commerce solutions provide the Acima customer base with easy access to a broader selection of durable goods with flexible LTO terms.“Consumers want more shopping flexibility and online platforms that don’t shut them out because of their financial history. We’re creating a shopping experience much more inclusive of all consumer demographics. We’ve identified a total addressable market that we estimate includes more than 50 million consumers representing approximately $100 billion in pent up demand,” said Jason Hogg, Executive Vice President, Acima. “Our platform, combined with our recently announced Acima Mobile App and Acima LeasePay Card, represent the future of frictionless shopping for durable goods through the power of lease-to-own technology.”New financial technology mechanisms are playing an increasingly important role in addressing pent up shopping demand and broader participation in the economic recovery, especially for the unbanked and under-banked, with The National Retail Federation’s recently revised annual U.S. retail sales forecast of more than $4.4 trillion for 2021.According to Darren Mowry, Chief Revenue Officer, at Marqeta, “We’re seeing strong growth in U.S. retail spending, with an optimistic outlook for a stronger than expected rebound, as customers return to retail locations while also continuing to embrace new digital e-commerce platforms. Acima’s focus on serving the underbanked will allow more customers to participate in the economic recovery and help create a more inclusive economy.” Mowry continued, “We’re proud to help Acima power this work. Helping a new customer demographic better engage with retailers, and allowing retailers to benefit from these transactions without undertaking complicated implementation processes, is a big win for both parties.”New Fintech Solutions — Features and HighlightsThe Acima MarketPlace and Browser Extension, in conjunction with the Acima LeasePay Card, will create new and incremental shopping experiences benefiting both customers and retailers. Customers will find more choice and mobility across the Acima ecosystem of shopping destinations as they move freely between physical and online transactions, while retailers will have the opportunity to meet new customers and gain sales volume that may otherwise have not been possible. The Acima solutions will improve the ability of customers to shop at retailers across multiple product categories, improving customer choice and taking advantage of previously unused shopping capacity.  The new Acima ecosystem is designed to attract incremental net new customers as well as increase the conversion rates of the existing customer base.  [<a href="https://youtu.be/2AV09HSth2g">Ecosystem video</a>]Acima Mobile Application:  puts the power of the Acima ecosystem at the fingertips of customers by providing them greater mobility and choice when shopping.  With the mobile app Acima customers will be able to apply for a new lease with Acima, find retail locations to shop, directly access the Acima MarketPlace, manage their lease accounts, and stay up-to-date with retailer promotions and offers. Acima LeasePay Card: beginning with a virtual card, approved customers will enjoy a flexible payment experience backed by Acima to complete LTO shopping transactions.  After reviewing and executing a LTO agreement with Acima, customers will be able to use the Acima LeasePay Card to complete their shopping experience in the MarketPlace or on the retailer’s website via the Browser Extension.  By year end, Acima plans to begin piloting a physical LeasePay Card, also issued through the Marqeta platform, giving customers access to the millions of retail locations that both accept Mastercard and offer qualified, durable goods.Acima MarketPlace:  is a single destination, accessible on both the Acima Mobile App and <a href="https://www.acima.com/marketplace">website</a> for consumers to acquire the eligible retail products they need through an LTO transaction with Acima. The MarketPlace is a gateway that gives consumers an entry point to the Acima ecosystem, providing choices beyond the brick and mortar retail network to include a growing network of e-commerce retailers. Additionally, Acima will provide its customers with the opportunity to shop more aspirational brands like Dyson, Bose, Casper, Bowflex, and HP now accessible without any integration with the retailers. Cash and credit constrained consumers can now shop from retail brands they previously may have been unable to access and enter into flexible LTO transactions with Acima for items that improve their quality of life.  [<a href="https://www.acima.com/marketplace-intro">MarketPlace video</a>]Acima Browser Extension:  lets consumers extend their LTO shopping experience beyond the MarketPlace, directly on select retailers’ websites through proprietary technology that does not require retailers to be integrated with Acima’s e-commerce solution. The browser extension allows customers to carry the shopping power provided to them by Acima on their own individual journeys with an “untethered” LTO shopping experience. No longer will LTO customers be limited to only shopping on sites and locations with pre-negotiated or exclusive e-commerce arrangements.For more information about Acima MarketPlace and Acima Browser Extension, visit <a href="http://www.acima.com/">www.acima.com</a>. Websites and other links referenced in this press release are not incorporated by reference into, and are not a part of, this press release.About Rent-A-Center, Inc.Rent-A-Center, Inc. (NASDAQ: RCII) is a leading provider of technology driven, flexible, no debt obligation leasing solutions that offer underserved consumers access to and potential ownership of high-quality durable goods that enhance the quality of life. The Company’s omni-channel model utilizes proprietary data and technology to facilitate transactions across a wide range of retail channels including its own Acima virtual lease-to-own platform, Rentacenter.com, e-commerce partner platforms, partner retail stores, and Rent-A-Center branded stores. For additional information about the Company, please visit our website <a href="http://rentacenter.com/">Rentacenter.com</a> or <a href="http://investor.rentacenter.com/">Investor.rentacenter.com</a>.Forward-Looking StatementsThis press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as &quot;may,&quot; &quot;will,&quot; &quot;expect,&quot; &quot;intend,&quot; &quot;could,&quot; &quot;estimate,&quot; &quot;predict,&quot; &quot;continue,&quot; &quot;should,&quot; &quot;anticipate,&quot; &quot;believe,&quot; or “confident,” or the negative thereof or variations thereon or similar terminology and including, among others, statements concerning the expected benefits, timing and growth opportunities from the Company’s Online MarketPlace, Browser Extension, Mobile Application and LeasePay card and other planned consumer offerings and technologies. However, there can be no assurance that such expectations will occur. The Company&#39;s actual future performance could differ materially and adversely from such statements. Factors that could cause or contribute to such differences include, but are not limited to, (1) the impact on our business of the COVID-19 pandemic and related federal, state, and local government restrictions, including adverse changes in such restrictions or the potential re-imposition of such restrictions limiting our ability to operate or that of our retail partners or franchisees, and the continuing economic uncertainty and volatility that has resulted from such matters, (2) risks relating to consumer and retailer acceptance and utilization of the Online MarketPlace, Browser Extension, Mobile Application and LeasePay card and other new consumer offerings, (3) Acima’s ability to effectively and timely implement and grow its suite of digital solutions including its Online MarketPlace, Browser Extension, Mobile Application and LeasePay card and (4) the 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.Media Contact:Actual Agency for Acimateamacima@actual.agencyInvestors:Rent-A-Center, Inc.Brendan MetranoVice President, Investor Relations972-801-1280brendan.metrano@rentacenter.com

 Acima Launches New Digital Ecosystem to Lease Retail Products

New technologies provide growth for retailers | Acima

acima-launches-new-digital-ecosystem-to-lease-retail-products

New technologies give underserved consumers unprecedented access to lease durable goods under flexible LTO transactions with Acima and provide growth opportunities for retailers

PLANO, Texas--(BUSINESS WIRE)—April 8, 2021-- Rent-A-Center, Inc. (NASDAQ: RCII) (“Rent-A-Center” or the “Company”), an industry leading omni-channel lease-to-own provider for the cash and credit constrained customer, has been ranked by Comparably as one of the top 50 large companies across North America for Best Company Outlook, and ranked #2 among all size companies for Best Operations Team.“The top-rated companies on our Best Outlook award highlight how confident employees feel about the future success of their own organizations,” said Comparably CEO Jason Nazar.“Given the recent acquisition of Acima, and the strong growth and success of our omni-channel strategy in the Rent-A-Center business, we believe there is substantial opportunity in front of us. Our coworkers’ optimism about our future is most important and this award is further evidence that we are fulfilling our mission to improve the quality of life of our customers and coworkers,” said Rent-A-Center CEO Mitch Fadel.In Q1 2021, Comparably also measured how employees from specific departments rated their workplace experiences in nearly 20 different categories, of which Rent-A-Center won the Best Operations Team award.“Considering the unprecedented challenges of the pandemic that our coworkers in Operations have experienced, we are honored to receive this award. While we will continue to evolve our strategy, our unwavering focus on our coworkers is what will most enable our continued success,” said Anthony Blasquez, Executive Vice President of Rent-A-Center Operations.“We are excited to receive the Best Company Outlook and Best Operations Team awards, on top of receiving the Best Company Culture award last year. These awards are based solely on the sentiments expressed by our coworkers and demonstrate our commitment to continuously improving the coworker experience,” said Russell Goin, SVP and CHRO of Rent-A-Center.Rent-A-Center is proud to offer careers that provide purpose with an award-winning culture. Learn more at <a href="https://raccareers.com/">raccareers.com</a>.<h2>About Rent-A-Center, Inc.</h2>Rent-A-Center, Inc. (NASDAQ: RCII) is an industry leading omni-channel lease-to-own provider for the credit constrained customer. The Company focuses on improving the quality of life for its customers by providing access and the opportunity to obtain ownership of high-quality, durable products via small payments over time under a flexible lease-purchase agreement and no long-term debt obligation. Preferred Lease provides virtual and staffed lease-to-own solutions to retail partners in stores and online enabling our partners to grow sales by expanding their customer base utilizing our differentiated offering. The Rent-A-Center Business and Mexico segments provide lease-to-own options on prod ucts such as furniture, appliances, consumer electronics and computers in approximately 2,000 Rent-A-Center stores in the United States, Mexico and Puerto Rico, as well as on its e-commerce platform, <a href="https://www.rentacenter.com/">Rentacenter.com</a>. The Franchising segment is a national franchiser of approximately 400 franchise locations. Rent-A-Center is headquartered in Plano, Texas. For additional information about the Company, please visit our website at <a href="https://www.rentacenter.com/">Rentacenter.com</a> or <a href="https://investor.rentacenter.com/">Investor.rentacenter.com</a>.View source version on <a href="https://www.businesswire.com/news/home/20201217005291/en/">businesswire.com</a>Rent-A-Center, Inc.Lynn JenkinsSr. Director – Human Resources(972) 801-1156<a href="mailto:Lynn.Jenkins@Rentacenter.com">Lynn.Jenkins@Rentacenter.com</a>Source: Rent-A-Center, Inc.
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Rent-A-Center Wins Comparably Awards for Best Company Outlook and Best Operations Team

Rent-A-Center has been ranked as one of the top 50 companies for Best Company Outlook, and ranked #2 among all size companies for Best Operations Team.

Rent-A-Center Wins Comparably Awards | Rent-A-Center

Al Bhakta of Eclipse RTO became Rent-A-Center’s largest franchisee in October when his franchise group acquired 99 corporate locations in California as part of the brand’s refranchising push, plus a 10-store development agreement was attachedall-in-all a multi-million dollar transaction.Bhakta is principal at CMG Companies, a group with investments in the multi-unit franchise space primarily in restaurants, hotels, retail and real estate. Eclipse RTO falls under that umbrella. Rent-A-Center, a lease-to-own concept offering mainly furniture and electronics, first piloted their refranchising efforts in 2015 when they sold 40 Rent-a-Centers to Shirin Kanji, whose family business history was in hotels.“Rent-A-Center provides a pretty unique way of financing for a consumer that may not have access to normally get products they need such as a washer, dryer, furniture and fridge, especially during COVID-19,” Bhakta said.Bhakta and his team began looking at the deal for 99 corporate stores in November of 2019 and signed with corporate in late February 2020. Their plans were put on hold in March due to COVID-19 and picked back up in June, closing the first week of October 2020.“We were always looking to diversify, so we were looking at fitness, health and wellness, automotive, retail, anything with a franchising unit component,” Bhakta said. “We kept coming back to Rent-A-Center.”Bhakta’s team looked into Rent-A-Center in 2014 and passed on an undisclosed deal in 2015, but stayed in touch with folks at corporate, he said.“We saw the success of franchisees who had done refranchising at Rent-A-Center corporate locations, and found deals scaled enough to make sense,” Bhakta said. “We were looking for additional franchise opportunities outside of food and beverage and hospitality, and Rent-A-Center went to the top of our list.”The deal made Al Bhakta and Eclipse RTO the largest rent-to-own franchisee globally, according to Michael Landry, vice president of franchising for Rent-A-Center. Between 2018 and 2020, Rent-A-Center refranchised 312 stores. Today, Rent-A-Center’s more than 2,000 stores are 84 percent corporate-owned and 16 percent franchisee-owned.“It’s a pretty sizeable and meaningful holding for us from a portfolio standpointit’s our second largest holding,” Bhakta added. “And obviously within the industry, it’s the largest deal Rent-A-Center has done, and we’re the largest franchisee in all of the rent-to-own businesses, so it was a sizeable deal for everyone involved.”Eclipse RTO signed a 10-store development agreement along with the 99 stores in California and plans to “help Rent-A-Center consolidate potentially some smaller mom-and-pop shops and convert them,” Bhakta said. “We&#39;re still heavily in restaurants and hospitality, it’s kind of our bread and butter and how we grew up in the business, but we’re looking for other essential services and franchising opportunities that we feel have differential service models and good operating margins in the future.”

Refranchising Deal Makes Eclipse RTO Largest Rent-A-Center Franchisee

At a time of huge digital transformation when consumers have quicker access to more products and services than ever, why be clunky if you can be seamless? So goes the thinking of <a href="https://www.linkedin.com/in/jason-hogg-3148838/">Jason Hogg</a>, the recently hired executive vice president of the <a href="/">Preferred Lease</a> unit of Rent-A-Center, which is aiming to take the lease-purchase segment of the alternative credit market to the next level along with its recent <a href="https://www.pymnts.com/buy-now-pay-later/2020/lease-to-own-business-fueled-by-acima-acquisition-company-boasts-triple-digit-growth/">acquisition of Acima</a>.“When I looked at the leasing and the lease-to-own space there was a lot of room for improvement. It was still clunky,” Hogg said to PYMNTS’ Karen Webster in a recent interview.Not only were people “typing out 30 fields with their thumbs on their phone,” Hogg said, but the whole process of qualifying for and making purchases was archaic and full of friction. Essentially, it was time to build a better mousetrap that was native, accessible and fast.“So we invented it,” Hogg said. “We&#39;ve taken the [leasing purchase] experience from the countertop where folks had to go and go through this arduous process, to where now you put in the last four digits of your Social Security number, and from inception to having their lease-to-own line available to them takes as little as 38 seconds, down from 20 minutes.”<h2>Serving Consumers, Helping Businesses</h2>From a consumer standpoint, Hogg said, unlike traditional financing with installment loans or unsecured credit cards, people actually own what they buy, which can make a huge difference for customers who are often lower income, are unbanked, underbanked or have thin or no credit file.“If you stopped paying a credit card bill or stopped paying your installment loans, your credit obviously is impacted adversely. With us, you have the ability to return the item,” Hogg said. “So if you decide that because of a change in circumstances, you&#39;re unable to make the payments, you&#39;re not stuck with this debt because it&#39;s not debt, it&#39;s a lease and so we have the ability for you to return it to any one of our 3,000 Rent-A-Center locations.”However, when customers are making timely payments Preferred reports that the credit bureaus, which for some customers, may be the only credit history info they have.“It&#39;s an only-upside experience from a credit building perspective,” Hogg said.At the same time, through its growing and acquired network of partner retailers, Hogg said the leasing platform is a boon for many small local businesses, as well as national chains that drives incremental customer base and incremental revenue growth.“I would say [we provide] 15 to 20 percent incremental sales volume growth to merchants, because we are able to originate in this thin file, no file underbanked or unbanked segment where those consumers don&#39;t have access to traditional financing alternatives,” he said.<h2>Dignity And Ubiquity Of Access</h2>There’s another side of the lease to own business that Hogg said is also important to know about. “We’re treating our customers with dignity,” he said.Whether they’re in the market for a laptop in order to go to work or keep a kid connected with remote schooling, or simply trying to put new safe tires on their car, many of Preferred’s customers would not have the credit or cash on hand to make an unplanned purchase.“Why is it that a consumer has to go through this process of being declined, declined, or not having access to the same goods and services that other people do, just because they&#39;re unbanked or have a thin file or no file?” Hogg asked.Instead, the ability to make those critical purchases, with as little as $49 down, can be life changing.“Giving them that access in a seamless fashion versus having to go through 30 minutes of providing untold amounts of information and everything is important,” Hogg said. “So it&#39;s treating them with dignity and empowering them like any other consumer.”For business models like the lease-purchase or buy now pay later (<a href="https://www.pymnts.com/tracker/buy-now-pay-later-september-2020/">BNPL</a>) sector, the ubiquity of access in terms of payment options is an important differentiator. For some, that means setting up traditional monthly bank ACH or autopay options. For others, it can involve the use of prepaid cards, and in some cases, paying in cash at a retail location.<h2>Huge Opportunity</h2>Hogg said he gets a little wry smile on his face when he thinks about the potentiality to scale this lease-purchase business through an ambitious suite of services and products fueled by technology and low friction experiences that help to solve a buying problem for consumers and grows from there.“It starts with a transaction and trust, and then grows into a relationship,” he said, “and from that relationship, we&#39;re able to graduate them to products and services that will help empower them and continue to provide access.”Although the business model itself is far from new, Hogg said replacing the clunky old version with the modern seamless variety will tap into a huge market.“Our curated addressable universe that we have is over 50 million consumers,” Hogg said, and within that, what we already have our arms around today is over a hundred billion dollars in lease-to-own capacity that&#39;s pent up.”

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Acima Launches New Digital Ecosystem to Lease Retail Products

Rent-A-Center Wins Comparably Awards for Best Company Outlook and Best Operations Team

Refranchising Deal Makes Eclipse RTO Largest Rent-A-Center Franchisee

‘Ubiquity Of Access’ Drives Growth At Rent-A-Center’s Preferred Lease Unit

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Get the things you love —all without credit*.

Acima Leasing makes it possible.*

Instant Shopping Power

Thousands of Choices

The No Credit Option*

Easy Payment Options

Flexible terms that put you in control.

Complete the Lease

Early Purchase Savings

Hassle-Free Returns

Get the stuff you need from stores you know.

Do it all in the mobile app.

What customers are saying.

The word on the street.

Acima Launches New Digital Ecosystem to Lease Retail Products

Rent-A-Center Wins Comparably Awards for Best Company Outlook and Best Operations Team

Refranchising Deal Makes Eclipse RTO Largest Rent-A-Center Franchisee

‘Ubiquity Of Access’ Drives Growth At Rent-A-Center’s Preferred Lease Unit

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