To increase credit card usage, banks roll out innovative promotions to attract customers on credit card payment. Interest-free instalment plan is one of the most favorites in which Dah Sing Bank, DBS, HSBC and Bank of China Credit Card, Standard Chartered Bank and American Express have participated.
SPECTRA Technologies has developed the Instalment plan application on its S9090 and S9010 POS terminals to free the burden of banks’ complicated development on its payment system. This is to demonstrate SPECTRA Technologies’ motto on customer service. Till 2006, there are more than 2,300 SPECTRA POS terminals in the market having this Instalment plan application. While purchasing, customers merely select the instalment tenant e.g. 6 or 12 months on the terminal, then the Instalment plan process is completed. Issuing bank will then debit the amount at customers’ credit card statement each month.
Before applying this technology on SPECTRA POS Terminal, customers have to fill in a form about the instalment details and followed by some manual procedures in order to finish the instalment transaction. Comparing with the easy steps running on the SPECTRA POS Terminal, it is really simple and amazing!
