Shares of GameStop were up 7.1% in afterhours trade on September 21, 2020, after RC Ventures disclosed an increased stake of 9.98% versus 9.0% reported on August 28th.
The 13D/A filing had written, “the Reporting Persons have had conversations and communications with senior management and several members of the Board of Directors of the Issuer concerning the Reporting Person’s views of the company. During these conversations, the Reporting Persons expressed their willingness to become more involved in the company under certain circumstances that the Reporting Persons believe are likely to produce the best results for all shareholders.”
On September 16, 2020, QuadPay, a pioneer in the Buy Now, Pay Later (BNPL) market, and recently merged with Zip Co (ASX: Z1P), announced a partnership with GameStop (NYSE: GME), to provide the world’s largest video game retailer access to its Buy Now, Pay Later installment payment service. The announcement was part of GameStop’s strategy in continuing to build out the capabilities and services of its global digital and in-store ecosystem to offer customers a broad spectrum of payment options to quickly and affordably purchase video games and other merchandise this holiday season. QuadPay is available now at GameStop’s retail stores and at GameStop.com.
QuadPay Co-CEO Brad Lindenberg said: “We are thrilled to be partnering with GameStop as they look to provide their customers with a simple and flexible way to pay over time both online and at the point of sale inside their more than 3,300 U.S. store locations.”
QuadPay lets consumers split any purchase into four interest-free installments paid over six weeks using their existing credit card or debit card when they shop online or in-store.
“As we continue to find new ways to expand the purchasing choices for our customers, we are pleased to partner with QuadPay to offer a new flexible payment option that will enable customers to affordably purchase the products they want from us this holiday season,” said Chris Homeister, chief merchandising officer for GameStop. “Today’s announcement represents one of the many steps we’re taking to continue to build out the capabilities and services to better serve our customers.”
GameStop joins QuadPay’s network of over 4,700 integrated merchants and global retailers. Within days of implementing QuadPay, merchants typically see an increased conversion rate up to 20 percent, and average order values increase up to 60 percent.
On September 16, 2020, GameStop (GME) announced that it is taking pre-orders for the Sony (SNE) PlayStation 5 and Sony PlayStation 5 Digital Edition consoles. Pre-orders for the Xbox Series X (MSFT) and Xbox Series S began on Sept. 22 at 8 a.m. PST. Both next-gen consoles are scheduled to arrive on store shelves November 10 and November 12 respectively. The PlayStation 5 and the PlayStation 5 Digital Edition will retail for $499.99 and $399.99 respectively, while the Xbox Series X and Xbox Series S will retail for $499.99 and $299.99. Customers will be limited to purchasing only one version of each next-gen console per household.