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23/10/2001
Open + Direct hails best ever Internet credit success
Belfast-based financial services company Open + Direct has celebrated its best ever month of retail credit business carried out over the Internet.
Brushing aside gloomy predictions by some analysts, the Viridian Group subsidiary, which provides credit via the Internet to hundreds of retail outlets throughout the UK and the Republic of Ireland, processed £2.7million of credit transactions via the Internet during September.
The company’s unique web-based system, which was launched at the end of last year, sends customer’s approval on their credit application within 30 seconds and the whole process takes just over three minutes. The system is mostly used for ‘big ticket’ items such as furniture, computers and household and electrical items.
Sam Downey, Head of Retail Services, said: “Since we launched our internet-based credit product in November last year we have seen the amount of business transacted through the web increase month on month.
“This figure of £2.7million in the month of September is a record for us and I believe sends a positive sign as to the level of consumer confidence in the UK.
“Open + Direct’s Internet solution compliments the existing online real-time ISDN –based system which has been in operation for more than five years. Transactions via the Internet-based credit system now represent a rapidly growing proportion of total credit transactions processed by Open + Direct.”
Open + Direct, previously trading as NIE Financial Services, has more than 30 years’ experience in the retail credit sector and has successfully operated real-time retail credit systems in outlets throughout the UK for several years. (MB)
Brushing aside gloomy predictions by some analysts, the Viridian Group subsidiary, which provides credit via the Internet to hundreds of retail outlets throughout the UK and the Republic of Ireland, processed £2.7million of credit transactions via the Internet during September.
The company’s unique web-based system, which was launched at the end of last year, sends customer’s approval on their credit application within 30 seconds and the whole process takes just over three minutes. The system is mostly used for ‘big ticket’ items such as furniture, computers and household and electrical items.
Sam Downey, Head of Retail Services, said: “Since we launched our internet-based credit product in November last year we have seen the amount of business transacted through the web increase month on month.
“This figure of £2.7million in the month of September is a record for us and I believe sends a positive sign as to the level of consumer confidence in the UK.
“Open + Direct’s Internet solution compliments the existing online real-time ISDN –based system which has been in operation for more than five years. Transactions via the Internet-based credit system now represent a rapidly growing proportion of total credit transactions processed by Open + Direct.”
Open + Direct, previously trading as NIE Financial Services, has more than 30 years’ experience in the retail credit sector and has successfully operated real-time retail credit systems in outlets throughout the UK for several years. (MB)
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