If you are in South Africa, Nigeria, Botswana, Zambia, eSwatini and Lesotho, then you are most likely acquainted with the retail group – Pick n Pay. The retail business was first established in 1967 in Cape Town, South Africa, with four stores. It has since grown to own a chain of stores across the sub-Saharan African region and has equally established one of the biggest online grocery shopping platforms in the region. They have recently introduced a new service which sells groceries to customers on credit. In this article, we will be explaining how the pick n pay credit works and how you can also benefit from this service.
What is Pick n Pay Credit, and how does it work?
Apart from being a giant retail business group, Pick n Pay has also revolutionised the shopping experience of its customers by introducing Pick n Pay credit which allows loyal customers to buy groceries on credit at low-interest rates in South Africa. Although the service faces criticisms and controversy, the Pick n Pay credit system is here to stay.
A Smart Shopper card can provide access to an approved Pick n Pay Store Account, administered by RCS. Holding the loyalty card does not automatically entitle you to credit; approval, the limit and repayment terms depend on the credit application.
How much will the interest be on pick and pay credit?
Every customer that is considered eligible for a store’s account or to buy on credit would get up to 55 days of credit without any interest if you are able to pay your debts as a lump sum and on the designated time each month. The R200 introductory discount was part of an earlier launch offer; check current promotions rather than assuming it remains available.
In the case where you are unable to pay your outstanding balances on time, then you will be required to pay an interest fee. Every customer’s interest rate will differ according to the amount that they are allowed to borrow. In the terms and conditions of Pick n Pay credit, this clause is clearly outlined. If you fail to pay your debts by the end of the month, you will be charged with an interest which will be calculated daily and summed up at the end of the month.
Your credit quotation and agreement set out the interest rate and charges. The National Credit Act does not set the Reserve Bank’s repo rate, and an old estimate of 6.75% or 28% should not be treated as the current rate.
How much credit can I get, and how do I apply?
RCS assesses the amount of credit it can offer after considering your application and affordability. Use the approved limit and current agreement rather than treating the R1,000–R40,000 range in older descriptions as a guaranteed offer.
The application process for this service is very easy, and anybody can do it. To apply, you will have to meet a few requirements for you to qualify.
- The individual applying has to be 18 years or older.
- You should have a minimum monthly earning of R2000.
- You are required to present your identification documents as well as a document to prove your monthly earnings.
If you meet the criteria for application, then you can go ahead to Apply. There are four ways through which you can apply.
Option 1: Apply online on the Pick N Pay website by simply launching the website on your device and following the instructions as they come. You can copy and paste this direct link in your web browser: www.picknpay.co.za
Option 2: The other means through which you can apply is by calling them directly or sending them as SMS. To apply via calls, simply dial this number: 0861 555 995; If you would like to apply via SMS, SMS “PnP” to 30087.
Option 3: the third option is to apply in person at any Pick n Pay store. Simply leave your personal and contact details at the money counter of any Pick n Pay store.
Option 4: download the Pick n Pay application available on Google play store and apple app store.
What are the fees for pick and pay credit?
The account advertises no transaction fees, but interest, monthly charges and any applicable insurance must be checked in the current RCS quotation and agreement. The R10 monthly fee comes from an earlier launch announcement and should not be assumed to be the current tariff.
How do you join?
To join the Pick n Pay credit service, you would have to have your Smart Shopper Card. What is a smart shopper card? A Smart Shopper card is a card that delivers immediate deductions on certain items. This card would grant you access to the facility, but you would need to have a unique PIN to use the Pick N Pay credit service. You would also have the possibility of having three secondary smart shopper cards, which you can give to your family members or friends.
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With the information provided in this article, you can begin benefitting from this credit service from any Pick and Pay store, simply ensure that you meet the requirements to register. You follow the registration procedure and meet up with your monthly payment to avoid additional costs and interest on your outstanding balance. Remember that your interest rate will be stated when you are signing up to ensure that you read through the Pick n Pay credit terms and conditions properly.
For information that may not be contained in this article, or if you have any questions, worries, or inquiries, please contact Pick n Pay through any contact details listed below.
Contact details:
Head Office
101 Rosmead Avenue
Kenilworth
Cape Town 7708
South Africa
Customer Service
Phone: 0800 11 22 88
Phone: 0860 30 30 30
Email: customercare@pnp.co.za
