EasyPay Finance Programs
EasyPay Finance, its parent, subsidiaries, and affiliates (collectively “EasyPay”), is in the business of, among other things, administering one or more programs (such programs collectively referred to herein, as the “Program” or “Programs”) that allow prospective and current customers of merchants to purchase, lease, or otherwise obtain Products directly or indirectly from merchants by entering into a written transaction agreement for a point of sale finance, lease, or similar transaction that may be facilitated or offered by or through EasyPay Finance, its subsidiaries, affiliates, bank partners, or merchant partners including, but not limited to, loans, credit sales and lease-to-own arrangements (collectively, “Consumer Transactions” or “Transactions“). The type of Program offered differs by state. The general details of these Programs are displayed below for information and disclosure purposes, along with a list of states within each Program. Note: Programs and states may change at any time without notice.
Third-Party Loan Provider Installment Loan Program
The Third-Party Loan Provider Installment Loan Program (“TLP Program”) is one in which EasyPay Finance partners with a third-party loan provider bank that originates consumer installment loans that EasyPay Finance facilitates and services. The TLP Program allows a consumer to apply for financing at a participating merchant partner location. The third-party loan provider determines the qualification and credit terms for all loan products. If the application is approved, an installment loan agreement between the consumer and the third-party loan provider will be executed, and EasyPay Finance will service the installment loan. Currently, all third-party loan provider loan products are underwritten, originated, and held by Transportation Alliance Bank, Inc., dba TAB Bank.
Credit Sales Program
Under the Credit Sales Program, a merchant may offer credit sales to customers to finance the purchase of the merchant’s goods and/or services (“Products”)(“Credit Sales”). The merchant is the originating creditor and executes a Retail Installment Contract with the customer. EasyPay has the option to purchase and take assignment of the Retail Installment Contract from the merchant. EasyPay Finance services the Contract.
Lease-to-Own Transactions Program
Under the Lease-to-Own Transactions Program, and subject to the terms and conditions provided in the Rental-Purchase Agreement, customers identify certain Personal Property for EasyPay Leasing, a subsidiary of EasyPay Finance, to purchase from a merchant that EasyPay Leasing will in turn lease to customers (“Lease“). The customer has the option of acquiring the personal property at the end of the Lease period or the customer can save money by exercising one of the early purchase options in their Rental-Purchase Agreement. The customer also has the right to terminate the Lease at any time and return the Personal Property through a number of different return processes.
Participating Program States – listed by Program. Programs and applicable States are subject to change without notice.
- Third-Party Loan Provider Installment Loan Program
- Credit Sales Program
- New Hampshire
- New Mexico
- North Dakota
- South Dakota
- Lease-to-Own Transactions Program