Shoprite customers with Money Market accounts can now buy non-food items on credit, and pay them off over 12 months.
This move seeks to meet the needs of shoppers looking for more digital convenience from their retail experiences as well as access to credit accounts in stores.
The new credit facility through Mobicred is currently offered on non-food items costing R500 and more, says chief executive Jason Sive.
Items such as electronic goods and appliances can be accessed via a QR code which will be displayed on-shelf. Customers scan the QR code on the item they would like to purchase and are redirected to the Mobicred app. When they select Shoprite, they are prompted to enter the cost of the item they want to buy.
Thereafter, an automated system sends a credit voucher for the selected amount directly to the shopper’s Money Market account and they check out at the till point. Existing Mobicred customers have immediate access to this facility, while those who have not yet signed up for the app, can open an account in less than 15 minutes.
Sive says the fully digitised system will give shoppers access to credit offerings via their Money Market accounts, enabling them to pay off higher ticket items over a period of up to 12 months.
“The integration of Mobicred into the group’s Money Market service, speaks to the need for smart, purpose-based credit that is obtainable by their customers in a more seamless way within their physical stores.
“For us at Mobicred, the move has been intuitive. We’ve identified an increasing demand for mobile credit within physical stores as well as online. Our customers want the option of using a mobile credit facility wherever they find themselves, and at their own convenience. This behaviour speaks to the rapid growth of omni-channel retail in South Africa, as shoppers look to expand their choices across multiple digital and physical touchpoints.”
The introduction of this retail credit app into Shoprite stores also points to the proliferation of mobile technology and the emergence of the next generation of consumers, he says. These digital natives are leading the charge towards a more integrated shopping reality, demonstrating the capabilities of mobile technology to bring unmatched convenience to the retail experience.