NewComLink, Sony Partner on Innovative Financing Solution

Easy payments plan makes gaming more affordable for Millennials

Oct 22, 2015, 06:00 ET from NewComLink

AUSTIN, Texas, Oct. 22, 2015 /PRNewswire/ -- Sony and NewComLink have launched a new program that will make it easier for gamers, especially Millennials, to purchase a Sony PlayStation 4.

Using NewComLink's simple financing platform, the program allows consumers to buy a PS4—which normally retails for $349.99—for a $9.99 down payment, followed by $24 monthly payments for 24 months. The purchase also includes a two-year PS+ subscription, which gives buyers access to next-gen online multiplayer, a network of free games and discounts on classic and new release titles. In addition, if consumers sign up for auto-pay, they qualify for a free PS4 game.

To participate, consumers fill out an online application and receive an approval decision within seconds. If approved, consumers then print or download a shopping pass with a virtual credit card number and present it at any local participating retailer to immediately pick up their PS4.

"With this program, consumers can use their computer or mobile device to get the product they want, at payments they can afford, all within seconds," said Terence Spielman, NewComLink's Chief Technology Officer. "Our aim is to make it easier for gamers to access products and for Sony to capture sales that would have otherwise been lost."

The program offers consumers who may not qualify for primary credit, like a store-branded credit card, an alternative option for financing their purchase. Research has found that nearly 50 percent of all point-of-sale applications for primary credit are declined.

Sony now has additional opportunity to connect with Millennials, two-thirds of whom describe themselves as "regular" or "avid" gamers. This demographic is especially likely to be declined for primary credit: according to Experian, the average consumer between the ages of 19 and 29 has a credit score of just 628, compared to 700 for the average Baby Boomer.

The program will also benefit the participating retailers who can expect to see an increase in foot traffic as consumers visit the store to pick up their purchases.

About NewComLink
Based in Austin, Texas, NewComLink (NCL) is a financial technology leader in consumer financing solutions. NCL helps retailers and manufacturers launch and implement innovative lending programs that provide more consumers with the financing options they want and need. NCL's simple solutions deliver increased sales and a better consumer financing experience while giving retailers and manufacturers greater control over their lending options.

Ian Toner

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