Currys has revitalised its credit offering in response to increasing demand for flexible payment solutions.
- The updated credit service, now branded as flexpay, offers options for monthly instalments and buy now, pay later.
- The option is available online and in store, expanding to more categories for greater consumer convenience.
- The flexpay service accounted for a significant portion of purchases, surpassing traditional credit card use.
- Joshua Fabian-Miller emphasises the role of flexpay in providing technology access while acknowledging partnership efforts.
Currys has emerged as a frontrunner in the retail sector by enhancing its credit service in response to a marked increase in demand for flexible payment solutions. Recognising the evolving needs of consumers, the electricals giant has rebranded its service under the new moniker ‘flexpay’. This strategic move seeks to offer customers the flexibility to spread the cost of their purchases, either through fixed monthly payments or via a ‘buy now, pay later’ option, both in-store and online.
Reflecting a progressive approach, the flexpay service extends beyond previous confines, now accessible across a broader array of categories. This widening of scope provides users with improved visibility of their credit balances, assisting them in managing their finances with greater transparency. Notably, the popularity of this offering is evidenced by the fact that one in every five pounds spent at Currys involves their flexible payment option, indicating a preference over traditional credit card transactions.
The flexpay service is powered by BNP Paribas Personal Finance, offering a range of low rate and interest-free promotional credit offers on selected products. This partnership underlines Currys’ commitment to providing forward-thinking financial solutions for their customers. Joshua Fabian-Miller, the Consumer Credit Director, stated, “We’re committed to helping customers access and enjoy the latest technology…flexpay is a key part of that mission.” Such statements highlight the company’s dedication to integrating customer needs within their service development, maintaining accessibility to cutting-edge technology.
The retailer’s strategic efforts extend beyond their partnership with BNP Paribas Personal Finance, as they reportedly considered a proposition from Frasers Group to integrate a buy now, pay later offer. This signifies Currys’ openness to innovative financial collaborations, further enhancing their service offerings.
Currys’ comprehensive upgrade of their payment options underscores their commitment to consumer-centric financial solutions, meeting contemporary market demands.
