PICK 'N PAY INTRODUCES A FINANCE CARD

TERRY BELL

CLAREMONT, South Africa (FNS) -- Pick 'n Pay Stores here has launched a debit/credit card that will be geared for a rollout of additional shopper services. The card, already being tested for payment of utility bills, may soon be used for movie and theater bookings, the purchase of insurance products, and other programs. The program is highly advanced for this market and reportedly has caused some consternation among retail food competitors.

"This is a matter of convenience, of providing a service for customers visiting our stores," said Rone de Wet, Pick 'n Pay's joint managing director, who stressed that the effort doesn't indicate the retailer is moving beyond its core supermarket business.

Spending with the "finance card" can be either debit or credit, depending on financial standing and personal arrangements. Because the card uses a personal identification number, or PIN, rather than a signature for identification (the latter is more customary here), it is considered more secure.

Pick 'n Pay is trying to extend the use of its card to all its outlets. It has also begun to gear its card to the payment of utility accounts, de Wet said.