One month after having introduced payment in instalments viacredit cards through retailers, Raiffeisen Bank says it isoverwhelmed by demand from trade and services companies, which wantaccess to this way of boosting sales, despite the fees they have topay to the bank.
For the time being, the programme is only available to mediumand large companies which are already clients of the bank in termsof card acceptance and have Raiffeisen-supplied POS-es installed.For these companies, the programme offering payment in instalmentswith no interest charged comes as a benefit.
Mihai Negulescu, manager of Raiffeisen's card acceptancedepartment, says the bank entered this market segment, which hadpreviously counted only Credit Europe and GE Garanti Bank ascompetitors, for "economic environment reasons."
He believes such a facility can become the "product of the year"given the continuing recession, as salary cuts trigger declines inretail sales.
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