There are already grocery chains where you can pay for bulk purchases in installments
A British grocery chain is allowing its customers to pay in installments to help them cope with rising inflation. Iceland Food Club offers interest-free loans of between £25 and £100, accessed via a pre-loaded card, with repayments set at £10 a week.
“There is no interest, we do not charge penalties: customers can delay, take a deep breath, but they can also overpay”
– says Simon Dukes, CEO of the charity lender Fair for You, with whom Iceland Food Club’s special solution was created. He added that they are regulated by the Financial Conduct Authority, unlike buy-now-pay-later companies operating in the current system.
Fair For You can take on tens of thousands of customers at a time, and the company expects that up to 55,000 customers in a more difficult situation will use the new service. With a maximum limit of £100, this means £5.5m for the company.
Related news
Slowdown and price increase at the same time – this is how the milk market will develop in the summer
The dairy sector is experiencing both international price increases and…
Read more >Inflation accelerated to 2 percent in the eurozone and 2.3 percent in the EU on an annual basi
Inflation in the euro area and the European Union accelerated…
Read more >K&H: Middle-aged people perceive inflation to be much more severe than the actual data shows
The inflation perception of middle-aged Hungarians continues to far exceed…
Read more >Related news
Carrefour sells Italian branch to NewPrinces Group
Carrefour has entered into a binding agreement with NewPrinces Group…
Read more >