Samsung Barclays Bank have entered into a partnership which will allow the bankâ€™s Barclaycard customers to use their credit cards to purchase the Samsung Galaxy Note 4, in three monthly installments at zero interest. The phone seels at Kshs 75,000 and the deal will get a user paying Kshs 25,000 per month
â€œWe know many of our customers would like to upgrade to the latest innovative Smart phone as soon as it is available, and our partnership with Barclays bank of Kenya will give our customers this opportunity. We believe this financing model will help our customers to keep up with the latest technology as our mission is to ensure that they experience advantages of the latest technologies,â€ said Robert Ngeru, Vice President and COO-Samsung East Africa.
â€œUse of cards in transactions has been on an upward growth, with a notable increasing demand for cashless payments. However with less than 200,000 active credit cards against a potential market of 4 million, we are alive to the vast opportunities available in this market. We therefore plan to continue introducing innovative products and seeking out strategic partnerships in order to add value to drive uptake,â€ said Director of Consumer Banking at Barclays Bank, Zahid Mustafa.
Zahid further revealed that the introduction of the more secure Chip and Pin cards has contributed to increased card uptake. Kenya is one of only three countries in Africa â€“ after Nigeria and South Africa â€“ to adopt the EMV standard at an industry level.
â€œFollowing the introduction of the Chip and Pin cards with their enhanced security features, we are beginning to see more of our customers using their cards to conduct cashless transactions. As fraud cases decline and our customersâ€™ comfort levels continue to increase, projecting that online trading and e-commerce in general will be one of the biggest beneficiaries of the shift to EMV technology,â€ he added.
To register for the installment plan, a Barclay card customer has to purchase the Note 4 using their Barclay credit card at select Samsung Dealer Shops and call Barclays Contact Center to be put on the scheme. The offer will run for 3 months in Samsung Brand shops, FoneXpress, Safaricom Ltd. and One 2 One.