Purchasing Power

Employee purchase program via payroll deductions

Purchasing Power

Employee purchase program via payroll deductions

Overview

Purchasing Power runs an employee purchase program that lets eligible workers buy brand-name products and vacation packages through their employer payroll deductions. It offers a catalog of 40,000 items with fixed six- or twelve-month installments and no credit checks, interest, or hidden fees. The program is delivered as a voluntary workplace benefit through hundreds of corporate partners, including many Fortune 500 firms, leveraging an employer-based distribution channel instead of consumer lending. Its goal is to broaden access to affordable financing via workplace benefits and expand its reach through partnerships and acquisitions, such as PROG Holdings' planned purchase.

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About Purchasing Power

Simplify's Rating

Why Purchasing Power is rated

B-

Rated B on Competitive Edge

Rated B on Growth Potential

Rated C on Differentiation

Industries

FintechFinancial ServicesConsumer Goods

Company Size

201-500

Company Stage

Debt Financing

Total Funding

$402M

Headquarters

Atlanta, GA

Founded

2001

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Simplify's take

What believers are saying

Q3 2026 GMV reached $161.2 million, up 12.3% year over year.
March 3, 2026 ABS financing cut borrowing costs by over 180 basis points.
SpringFour partnership on July 27, 2026 expands financial-wellness tools beyond checkout financing.

What critics are saying

PROG still carries $338.6 million non-recourse funding debt tied to Purchasing Power.
Gross margin depends on payroll deduction collections; any employer termination instantly hits receivables.
Amazon, Walmart, and BNPL lenders can copy payroll-linked financing, compressing this niche.

What makes Purchasing Power unique

Payroll-deduction B2B2C access survived PROG Holdings’ January 2, 2026 acquisition.
Purchasing Power reaches 360+ employers and 7 million eligible employees nationwide.
Its no-credit-check, fixed-installment checkout reduces reliance on cards for cash-strapped workers.

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Funding

Total Funding

$402M

Above

Industry Average

Funded Over

3 Rounds

Debt funding comparison data is currently unavailable. We're working to provide this information soon!

Debt Funding Comparison Coming Soon

Benefits

Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Parental Leave
401(k) Company Match
401(k) Retirement Plan
Paid Time Off
Paid Vacation
Paid Holidays
Hybrid Work Options
Employee Stock Purchase Program

Company News

Purchasing Power

May 22nd, 2026

Millennium Alliance 2026.

Millennium Alliance 2026. Purchasing Power May 22, 2026 Purchasing Power will be attending the Millennium Alliance conference in Miami this June! Join its team at the Miami Marriott Biscayne Bay, where Purchasing Power, LLC'll be connecting with top HR and business leaders. Whether you're exploring new employee benefit strategies or looking for ways to improve financial wellness offerings, Purchasing Power, LLC'd love to connect. Find Purchasing Power, LLC on-site and let's talk about how Purchasing Power can make a difference for your employees. Date: June 9 - 10, 2026 Location: Marriott Biscayne Bay | Miami, FL Format: In-Person PPC Attendees: Asad & Carli

Le Lézard

Mar 3rd, 2026

Purchasing Power closes $225M asset-backed securities deal with 180bp coupon reduction

Purchasing Power, a subsidiary of PROG Holdings, has closed a $225 million asset-backed securities transaction backed by consumer receivables from its payroll deduction platform. The deal achieved a weighted average coupon rate reduction of over 180 basis points compared to its 2024 transaction. This marks the first time a PROG Holdings subsidiary has accessed the ABS market since the company acquired Purchasing Power in January 2026. The multi-tranche offering received ratings from Kroll Bond Rating Agency, with Class A notes rated AAA. Proceeds will repay existing facilities and fund originations across Purchasing Power's platform, which provides employee purchase programmes through payroll deductions. Barclays Capital served as structuring agent, whilst Wilmington Trust acted as trustee and collateral administrator.

Yahoo Finance

Feb 18th, 2026

PROG Holdings navigates 8.6% GMV decline with AI integration and $680M–$730M Purchasing Power acquisition

PROG Holdings navigated a challenging 2025, with leasing GMV declining 8.6% due to a major partner bankruptcy and tightened credit standards. The company shifted to a consolidated GMV framework reflecting growth in its For BNPL platform, which achieved triple-digit GMV and revenue growth for nine consecutive quarters. PROG acquired Purchasing Power in January 2026, adding an employer-based financial services channel expected to contribute $680 million to $730 million in 2026 revenue. The company divested its Vibe portfolio to improve capital efficiency and integrated AI tools that increased decision speed by approximately 75%. For 2026, PROG anticipates continued macroeconomic pressure on big-ticket retail categories, with revenue affected by a 9.4% smaller starting lease portfolio. The company prioritises debt reduction to reach its target net leverage of 1.5 to 2.0 times following the Purchasing Power acquisition.

Business News Today

Dec 2nd, 2025

PROG Holdings adds 360+ employer partners as it acquires Purchasing Power in cash deal

PROG Holdings adds 360+ employer partners as it acquires Purchasing Power in cash deal. PROG Holdings is acquiring Purchasing Power for $420M in cash to expand into payroll-deduction e-commerce. Find out what this means for its fintech strategy. Why PROG Holdings is spending $420 million to diversify beyond lease-to-own and enter payroll-deduction e-commerce. PROG Holdings, Inc. (NYSE: PRG), the parent company of American First Finance and Progressive Leasing, has announced a definitive agreement to acquire Purchasing Power, LLC in an all-cash transaction valued at approximately $420 million. The acquisition marks a strategic pivot for the Utah-based financial services provider as it seeks to broaden its consumer engagement beyond lease-to-own and expand into employer-based financial wellness and payroll-deduction platforms.

StockTitan

Dec 1st, 2025

PROG Holdings Acquires Purchasing Power for $420M

PROG Holdings announced its acquisition of Purchasing Power for $420 million. This move expands PROG's ecosystem by adding a scalable customer acquisition channel and access to an employee-focused consumer base. The acquisition is expected to close in early 2026, pending regulatory approvals. It aims to enhance PROG's offerings, increase customer engagement, and create new employer-client opportunities. The deal will be funded through cash and debt financing.

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