Leading retail brand reaches significant milestone, showcases consistent growth amid economic uncertainty and tangible benefits for customers
NEW YORK, Sept. 15, 2025 /PRNewswire/ — PayMore, the nation’s largest electronics franchise, today announced the opening of its 100th store in Charlotte, North Carolina. This news comes on the heels of the company’s rapid and significant growth – PayMore opened nineteen new locations across the US, Canada, and Europe in Q2 2025 and is slated to open at least 150 total stores by year-end. The company’s expansion reinforces its position as one of the fastest-growing retail brands, achieving a remarkable 500% increase in store count over the past two years.
“Reaching 100 locations is a significant milestone, especially when most retail brands never grow beyond a handful of stores. In fact, we have over 500 stores in development which is less than 1% of global franchises,” said Stephen Preuss Sr., co-founder and CEO of PayMore. “We’re incredibly proud of our team, and so thankful for our loyal customers. This achievement reflects the strength of our business model and franchisees, and the value we bring to every neighborhood we enter. We’re just getting started and we’re excited to keep making tech-forward, customer focused moves around the world.”
PayMore’s continued growth reflects a broader shift in consumer expectations, where value, sustainability and safety are essential. According to research from Morgan Stanley, consumer spending is projected to fall to 3.7% in 2025 from 5.7% in 2024, with a greater cooldown among lower- and middle-income consumers feeling the effects of tariffs and economic uncertainty. PayMore is a trusted and convenient destination for those seeking financial flexibility and peace of mind. Whether selling unused devices for meaningful income or purchasing quality, certified pre-owned electronics at a fraction of retail cost, customers choose PayMore as a practical and responsible alternative to traditional retail. This is because the brand provides optionality and empowers customers.
Additionally, the company addresses two rising concerns for modern consumers: data security and environmental impact. Every device that enters a PayMore store is thoroughly wiped of personal data or responsibly destroyed, ensuring sellers’ information is protected. Meanwhile, the company’s e-waste recycling programs, which kept more than 1 million pounds of electronics out of landfills last year alone, provide an effective way for consumers to reduce their environmental footprint. Together, these services reflect PayMore’s commitment to building a circular economy rooted in trust, transparency, and long-term impact.
“Opening PayMore store number 100 today marks a significant milestone in our partnership with the company. We’ve grown together from PayMore’s early days with just a dozen locations, and we’ve opened two others here in Charlotte,” said Randy Griesbach, PayMore franchisee and Principal of Business Development at OP Holdings. “This new store puts us in the heart of a thriving shopping district in Charlotte. Our experienced team is excited to help this community save money on quality electronics – from retro gaming systems to like-new smartphones – while giving their unused devices a second life through our resale and recycling programs.”
PayMore’s newest Charlotte store will open on September 22nd, 2025 and is located at 3050 Derita Road, STE 30, Concord, NC 28027. For more information about PayMore or to find the nearest location, visit PayMore.com.
PayMore’s other Charlotte locations include:
- PayMore Raintree: 8140 Providence Rd Suite 600, Charlotte, NC 28277
- PayMore University City: 8548 University City Blvd, Charlotte, NC 28213
About PayMore:
PayMore was founded in 2011 in Massapequa, New York to obtain and repurpose old electronics and recirculate them back into the marketplace instead of having them pile up in landfills. What started as a mission driven store on Long Island has quickly become the fastest growing electronics franchise in the country. By offering customers a boutique retail experience where they can safely sell unwanted electronics and buy new devices, PayMore Stores has created a new niche in the marketplace with 100 open stores and over 600 in development and counting. The brand began franchising in 2020, and with its low start-up costs, incredible unit economics, proprietary technology, fully-customized operating system, and easy operations quickly began attracting experienced multi-unit franchisees looking for a ‘lighter lift’ business model or to diversify their portfolios.
PayMore Stores is a new-age global franchise driving the modern evolution of elevated retail. Disrupting the second-hand industry with nimble brick and mortar locations propelled by technology, data and e-commerce.
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SOURCE PayMore Stores
