Katapult
Katapult offers lease-purchase plans with no credit required, providing flexible payment options for electronics, furniture, appliances, and more. The company partners with over 200 retailers and features a mobile app for shopping, payments, and lease management.
Katapult Lease-Purchase Plans
Katapult offers lease-purchase plans with no credit required, making it accessible for a broad range of consumers. These plans span various categories including electronics, furniture, appliances, and other personal property. A notable feature of Katapult’s service is the 90-day early purchase option (EPO), allowing customers to purchase leased items at a discount within the first 90 days. The lease-purchase agreements can be renewed for 12 to 18 months, depending on the total cash price and the state regulations. Katapult's agreements feature flexible payment plans with no hidden fees, interest rates, or APR, and customers can return items anytime without obligation.
Katapult Mobile App
Katapult provides a mobile app designed to enhance the user experience by allowing them to shop, make payments, and start new lease agreements conveniently. A key feature of the app is Katapult Pay™, a virtual one-time use card for online shopping, which is accepted by over 20 different merchants. The app offers lease pre-approvals up to $3500, helping customers understand their buying power before they shop. With integrated features and a seamless interface, Katapult’s mobile app aims to simplify the lease-to-own process for its users.
Katapult Retail Partnerships
Katapult has established partnerships with over 200 retailers, including notable names like Wayfair, Lenovo, Lull, and Sears. These partnerships allow customers to lease-purchase items directly from well-known brands and retailers. For business partners, Katapult offers a dedicated partner manager and a marketing toolkit to promote the lease-to-own options effectively. Additionally, Katapult provides hands-on support to ensure smooth integration with leading e-commerce platforms, making it easier for retailers to offer lease-purchase services.
Katapult Customer Reviews
Katapult has a positive reception from its customers, as evidenced by its 4.4-star rating on Trustpilot. This rating reflects customer satisfaction with the company’s lease-purchase options, mobile app features, and overall service quality. Customer reviews often highlight the flexibility of the payment plans, the ease of use of the mobile app, and the no credit required feature as significant benefits. The strong Trustpilot rating suggests that users find value in Katapult's services and support.
Katapult's Technology
Katapult leverages advanced AI and ML technology to look beyond traditional credit scores, providing deeper insights and more inclusive lease-purchase opportunities. This technology allows Katapult to assess customers more comprehensively, offering lease agreements to those who may not qualify through conventional credit checks. By utilizing these technologies, Katapult ensures a broader range of consumers can access their lease-purchase services, contributing to financial inclusion and consumer empowerment.