Tile Shop & Citizens Partner to Provide Payment Plan for Purchases

July 5, 2023  by HFBusiness Staff in Business Strategy, Designer Weekly, Industry   

Citizens Pay, a market leading consumer installment financing solution from Citizens, is the exclusive financing partner for The Tile Shop, giving customers shopping at one of the retailers’ 143 showrooms across the country access to convenient, flexible payment options.

“Budgeting and paying for home projects can be stressful, but by removing some of the financial barriers through predictable, low-interest monthly payment options, we can empower and better equip homeowners to turn their inspiration into reality,” said Christine Roberts, executive vice president and head of citizens Pay.

“We are excited to partner with The Tile Shop to provide their customers with the financial flexibility to responsibly manage and pay off home improvement projects over time.”

Citizens Pay financing is now available in-store at all 143 The Tile Shop showrooms, with pre-qualification also available via the retailer’s website, for those who start their design planning journey online.

Customers who qualify will benefit from Citizens’ ability to offer low interest rates and monthly payments. In addition to flexible payment terms, there are no prepayment penalties or membership fees.

“Partnering with Citizens Pay to offer trustworthy and convenient financing for our customers is an extension of our commitment to excellence across the customer experience,” said Mark Davis, vice president of investor relations & chief accounting officer at The Tile Shop.

“Home renovations and design projects are a highly considered purchase and investment, and this new financing option will empower our customers to make their dream home projects a reality, without compromising their design vision or budget.”

A recent Citizens Pay survey found that among American consumers considering buying a new home, 36% wish they had the financial flexibility to afford home renovations¹.

The survey also found that financial flexibility to make big ticket purchases (53%) is the top benefit that consumers cite for using buy-now-pay-later (BNPL) services, and 45% prefer BNPL options with longer-term financing, such as monthly payments over a period longer than six months.

Citizens Pay is a market leader in point-of-sale financing, offering a responsible way for consumers to pay for large purchases in fixed, monthly payments, while providing merchants with tailored, embedded financing options that drive customer loyalty. For additional details on Citizens Pay, visit www.citizenspay.com.

¹Data from a survey conducted by Wakefield on behalf of Citizens Pay from January 20 and January 29, 2023, with a panel of 2,000 nationally representative U.S. adults ages 18+, including an oversample of 500 Gen Z respondents.