Katapult Drops Late Fees
Katapult Holding Inc., which offers lease-purchase options to consumers, says it will no longer charge consumers late fees on late lease payments.
The change is part of what the company calls its "consumer-centric focus." In addition to no late fees, that focus includes a 60-second application process with approvals in less than 5 seconds; lease payment plans tailored to the customer; and transparent cost of ownership with no hidden fees or surprises.
"I'm very proud that Katapult remains focused on providing a seamless and convenient customer experience to ensure positive interactions both during and after the rental-purchase process," says Orlando Zayas, CEO of Katapult. "We have a significant percentage of return customers and that speaks volumes to the service we provide and the options we offer."
The benefit for retailers of offering Katapult is the ability to reach and convert new shoppers, increase transactions, and gain customer loyalty.