Customers of Tinka and Wehkamp will undoubtedly have heard the news. The credit service is discontinuing the popular payment method of paying in installments. Reason: it yields too little.
Anyone who goes to the Tinka site – which was disconnected from Wehkamp in 2021 – has recently seen the next message in pictures: ‘From June 10, 2024, Tinka will no longer make new amounts of credit available. This means that from that moment on it is no longer possible to make a new purchase with Tinka credit (pay in installments), or to withdraw money with Tinka credit. In any case, from that moment on, (online) stores will no longer offer Tinka credit as a payment method when paying for a product.’
‘Economic reason’
In concrete terms, this means that customers at online stores such as Wehkamp (Tinka’s largest customer) can no longer pay in installments with the payment service. A spokesperson briefly informed Twinkle that this has a purely economic reason: ‘It costs more than it yields.’
Still pay afterwards
And so the payment method that made Wehkamp famous, among other things, ends. Tinka was previously known as Wehkamp Finance, but was split off in 2021. Since then, Wehkamp has been the company’s largest customer. The post-payment option for Wehkamp customers via Tinka remains available. This is a service that Tinka only offers for Wehkamp.
No link with fine
According to the spokesperson, the step has no link with the fine that Tinka imposed earlier this year from the Netherlands Authority for the Financial Markets. He fined the company 1.75 million euros because it had lent several customers an ‘irresponsible amount of money’.
By the way, Tinka is not the only payment company that has stopped paying in installments. ICS, credit card issuer, announced also stopped recently with the Spread Payment Facility.
