Currys has revamped its flexible credit offerings due to increasing customer interest.
- The company’s flexpay service, previously known as Your Plan, now covers more product categories.
- Currys reports one in five transactions utilise its flexible payment options, outpacing credit card use.
- Flexpay offers access to low rate and interest-free credit for select products.
- Currys collaborated with BNP Paribas Personal Finance to enhance its payment solutions.
Currys, a prominent player in the consumer electronics retail sector, has updated its financial services to better accommodate the growing demand for flexible payment plans. This development comes as more customers show a preference for spreading the cost of their purchases rather than making upfront payments.
The retailer’s flexpay service, formerly referred to as Your Plan, has been expanded to include a wider range of product categories. This change provides customers with improved oversight of their credit balances linked to previous purchases, thus enhancing their purchasing experience and financial management.
Notably, the company has disclosed that a substantial portion of its sales, specifically £1 of every £5, is being conducted through its flexible payment schemes. This figure surpasses the amount spent using traditional credit card methods, indicating a significant shift in consumer payment preferences.
Powered by BNP Paribas Personal Finance, Currys’ flexpay service introduces a collection of low rate and zero-interest promotional credit offers on selected merchandise. This initiative is designed to make technology more accessible to consumers, aligning with the company’s mission to enable customer connectivity and enjoyment of the latest tech advancements.
According to Joshua Fabian-Miller, Consumer Credit Director at Currys, the flexpay service is central to the company’s strategy of aiding customers in acquiring essential technology at their convenience. He expressed gratitude towards customers and colleagues who contributed to the development of this service, as well as BNP Paribas Personal Finance for their collaboration.
Currys continues to innovate in customer financial services, reflecting broader shifts in retail consumer behaviour.
