The El Corte Inglés universal credit card is closer to being a reality. Department stores are already testing it among their employees through the ‘Family&friends’ program in order to analyze its operation and usefulness, as well as detect possible failures and areas for improvement with a view to its launch in the coming months, according to what EL ESPAÑOL-Invertia has learned.
At the moment, it is in the testing phase and only some groups of workers are testing the new card. This is a very common operation in the operation of department stores and is usually carried out with any launch.
This testing process usually lasts between three and four months and the number of employees who will use the card is increased (although it will never reach the 90,000 workers that the company has). Once this process is complete, the launch of the universal card will take place.
What will this card allow? Well mainly that can be used in any large area or trade to split the payment of purchases regardless of whether or not it belongs to El Corte Inglés. In other words, a user will be able to pay with it at a gas station, in a cafeteria or in one of the Inditex brand stores, for example. In addition, it can be used anywhere in the world.
For months, the group plans its launch. At the shareholders’ meeting held in July of last year, the idea of launching it on the market hand in hand with MasterCard was already mentioned. A fact that will become a reality in the coming months.
The ICE card
In fact, with the new card they will be able to reach many more users, since currently their purchase card -created in 1996- it only allows to postpone or finance purchases in group establishments, including Sfera, Bricor and Viajes El Corte Inglés, and some gas stations attached to department stores. Such purchases are debited from the holder’s bank account on the last day of the following month.
The usual discounts offered by the group are also present on the card, where financing promotions are offered at zero rate or at very competitive twelve-month rates, especially on electronic products.
Since 2018, the finance company has been selling a loan to cardholders for the purchase of any product, whether or not it is from El Corte Inglés (mortgages excluded), which moves around 250 million euros per year.
Transformation
The creation of this card represents a further step in El Corte Inglés’ strategy of diversifying its business to adapt to the times. A process that, moreover, has been accelerated in the midst of a pandemic with some strategic moves, such as the launch of a app for shopping online as a reinforcement to its omnichannel strategy.
It has also carried out several important purchases in the sector such as the acquisition of Mega2 to enter the security business or that of Sánchez Romero to become a leader in premium food.
And in the chapter of alliances, sealed one with MásMóvil to launch its own virtual mobile and fiber operator. The commercialization of convergent telecommunications services will be carried out through Sweno, the department store’s own brand. An agreement that includes the sale of alarms.
It also signed an alliance with the energy company EDP to offer, for the first time, photovoltaic self-consumption solutions to its customers through the installation of solar panels. And finally, it is necessary to remember that its travel subsidiary merged with Logitravel. All this (and some other agreements) in just two years.
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