Retail finance specialist Ikano Bank UK has announced that it has been appointed by Tesco to provide finance solutions for customers of the retailer's electrical division.
Ikano Bank UK will work alongside the Tesco Tech Support team, providing point of sale finance options such as Interest Free Credit, Buy Now Pay Later and Interest Bearing Loans in over 250 of Tesco's UK stores.
Tesco Tech Support is the grocery chain's specialist technology team that supports its electrical division. This online and instore community provides information before, during and after sales to help customers really understand the products they are buying, so that they get maximum enjoyment and value.
"Ikano's flexible payment options will complement the expert, impartial advice and guidance that our Tesco Tech Support teams currently provide to our customers," explains Richard Prior, Tesco Tech Support Operations Manager.
This partnership marks Ikano Bank UK's successful entry into the electrical store finance market, and will be one of several new retail partner relationships that the company plans to announce in 2014.
Paul O'Leary, partner director at Ikano Bank UK, concludes: "We are delighted to have begun a partnership with one of the most recognised retail brands in the world and one which shares many of our values, including conducting business on fair terms."
In the UK Ikano Bank delivers finance solutions to several household name retail partners including Bensons, DFS, Harveys and IKEA.