As consumer demand for flexible payment solutions rises, Currys has revamped its credit offerings, achieving significant milestones.
- Currys has rebranded its flexible payment service to ‘flexpay,’ broadening its coverage to more product categories.
- Fixed monthly payments and a ‘buy now, pay later’ option are now available both in-store and online.
- An increase in consumers opting for flexpay has seen it surpass traditional credit card use for £1 of every £5 spent.
- The initiative is powered by BNP Paribas Personal Finance, providing low-rate and interest-free credit options.
Currys has undertaken a strategic move to rebrand and expand its flexible payment options amidst a surge in consumer demand. Recognizing the growing preference for financial flexibility, the company has introduced ‘flexpay,’ an evolution of its previous ‘Your Plan’ service. This newly branded offering extends its coverage to encompass more categories, providing customers greater visibility over their credit balances across past purchases.
Customers can now avail themselves of flexible financial solutions by either opting for fixed monthly payments or choosing the ‘buy now, pay later’ scheme, applicable both in physical stores and through the online portal. This move aims to align with evolving consumer trends towards spreading purchasing costs over time, offering convenience and flexibility at the point of sale.
The adoption of the flexpay service has been remarkable, with more than 20% of customer spending at Currys now occurring through these flexible payment methods. This marks a notable shift from traditional credit card transactions, emphasizing consumers’ preference for manageable financial planning.
Backed by BNP Paribas Personal Finance, Currys’ flexpay offers a range of low-interest and interest-free credit promotions on selected products. This collaboration underscores Currys’ commitment to providing accessible and attractive financial solutions, enhancing customer satisfaction and engagement.
Consumer credit director Joshua Fabian-Miller expressed the company’s dedication to helping customers acquire the latest technology that supports connectivity, health, productivity, and entertainment. ‘Flexpay is a key part of that mission,’ Fabian-Miller remarked, highlighting its role in making technology more accessible to a broader audience.
Currys’ strategic enhancements in flexible payment options are a testament to its commitment to meeting evolving consumer financial preferences.
