SurgePays Expands Rent-to-Own Smartphone Program with LowWeeklyPayments JV — SurgePays, Inc.

Event summary

SurgePays and LowWeeklyPayments signed a non-binding LOI on September 17, 2026, to form a joint venture for scaling a smartphone rent-to-own program.
The joint venture, LWP-SURGE, LLC, was formed on September 2, 2026, with SurgePays holding a 51% stake and LowWeeklyPayments holding 49%.
The program has already scaled past 100 dealers, targeting subprime and underserved consumers with low weekly payment options.
SurgePays will provide its dealer network and infrastructure, while LowWeeklyPayments will contribute its rent-to-own platform and approval matrix.

The big picture

The joint venture between SurgePays and LowWeeklyPayments aims to capitalize on the growing demand for affordable smartphone access among subprime consumers. By leveraging SurgePays' extensive dealer network and LowWeeklyPayments' rent-to-own platform, the partnership seeks to drive recurring revenue and expand market reach. This move aligns with broader industry trends toward financial inclusion and alternative financing models for underserved populations.

What we're watching

Execution Risk: Whether SurgePays can sustain the pace of dealer onboarding and maintain high approval rates through the joint venture.
Market Penetration: How the joint venture will affect the adoption of rent-to-own programs among subprime consumers in the SurgePays dealer network.
Regulatory Scrutiny: The potential regulatory challenges the joint venture may face given its focus on subprime and underserved consumers.