Samsung targets Barclays Bank credit card customers with the Note 4 handsets

Samsung Electronics East Africa and Barclays Bank of Kenya have entered into a partnership which will allow the bank’s Barclaycard customers to use their credit cards to purchase Samsung’s flagship device, the Galaxy Note 4, in three monthly installments at zero interest. 

The Samsung Galaxy Note 4 comes with stunning unique features, making it one of the most coveted and fastest moving Samsung Galaxy phones in the market.

“We 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,” noted Robert Ngeru, Vice President and COO- Samsung East Africa. 

Speaking at the same event, the Director of Consumer Banking at Barclays Bank, Zahid Mustafa, noted that the bank is the market leader in Kenya in the credit card segment due to the continuous introduction of innovative product offerings such as the easy repayment plan, loan on phone and travel insurance. According to the VISA market quarterly report, Barclays is currently positioned as having more than 50% market share within the credit card space.

 “Use 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,” he said.

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 – after Nigeria and South Africa – to adopt the EMV standard at an industry level.

“Following 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 customers’ 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,” he added.

Barclaycard was recently awarded the Cards Warrior Award by VISA in recognition of the pioneering spirit of Barclays Bank in the cards space. The innovative ways in which the bank reaches out to its customers, designs its products & campaigns and paves way for the future in payments.

To register for this easy 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.