PROG Holdings, Inc. has successfully finalized the acquisition of Purchasing Power, a prominent voluntary employee benefit program.
The acquisition aims to enhance PROG Holdings' consumer reach through an employer-based channel and promote financial access and inclusion for customers.
Purchasing Power, now a wholly owned subsidiary of PROG Holdings, brings over 360 employer partnerships to the organization, expanding its transparent and flexible payment solutions.
Strengthened Consumer Reach
The acquisition of Purchasing Power strengthens PROG Holdings' ability to reach consumers through employer partnerships.
Financial Inclusion Commitment
The acquisition aligns with PROG Holdings' commitment to improving financial access and inclusion for its customers.
Expansion of Offerings
The combined organization expects to leverage shared technology and operational capabilities to expand offerings and deepen customer engagement.
- The acquisition of Purchasing Power enhances PROG Holdings' position in the voluntary benefit sector, expanding its presence in financial wellness solutions for employees.
- PROG Holdings anticipates leveraging the acquisition to strengthen client relationships, drive customer engagement, and support long-term growth.
With the successful completion of the acquisition, PROG Holdings further solidifies its presence in the consumer financial products market and is poised for continued growth and innovation.