- Customers will benefit from an extended interest-free period of up to 116 days* for payments made at Travis Perkins Builders Merchants and Toolstation
- The cards, which launch this month, come at a time when cash flow remains a key concern for small businesses, second only to uncertainty about the wider economy
- Customer feedback predicts high demand for the new trade credit cards
Barclaycard, which has helped make businesses successful for more than 50 years, is partnering with selected companies of the Travis Perkins Group to launch a new range of co-branded business credit cards. The rollout of the new cards kicks off with Travis Perkins and Toolstation this month.
These no-fee cards will provide customers with an extended interest-free credit period of up to 116 days* for all purchases made at the initial participating companies – Travis Perkins and Toolstation. Customers will also benefit from up to 56 days’ interest-free credit on purchases made in all other retailers where the card is accepted*.
Details of this proposition will be available at all Travis Perkins and Toolstation locations by the end of the month, and applications can also be made via their respective websites; www.travisperkins.co.uk and www.toolstation.com.
These card launches come at a time when Barclaycard research** finds that a fifth (20 per cent) of small businesses cite cash flow as one of the biggest day-to-day obstacles of business growth, second only to the current economic and political uncertainty.
In fact, working capital ranked as a greater concern than other common hurdles, which included high overhead costs (19 per cent) and worries around customer contracts (18 per cent). This new range of business credit cards is another example of Barclaycard’s commitment to helping customers tackle the challenges that come from working capital management, and the Travis Perkins Group’s commitment to supporting its customers.
Ian Reid, Director of Small Business at Barclaycard, said: “We’re excited to launch this partnership with Travis Perkins and Toolstation, two of the biggest names in the industry. While cash flow remains one of the main challenges for any growing business, we know that the construction industry in particular is comprised of many sole traders and small teams that frequently make up-front investments before they themselves get paid. We hope our extended interest-free offer will be another way to help them take control of their cash flow.”
Paul Tallentire, CEO of Travis Perkins General Merchanting Division, said: “Managing cash flow is one of the biggest challenges for the trade. With this exciting new credit card built for the trade, Travis Perkins will make it easier for our customers to keep doing what they do best - building.”
John Meaden, Marketing Director at Toolstation, said: “Our successful growth as a business has been built on listening to our customers and providing them with the products, prices and services they need, in the right place at the right time. Our trade customers told us they wanted interest-free credit facilities, and our partnership with Barclaycard, one of the world’s leading and most trusted financial service providers, is our response. We are confident the cards will prove very popular, offering another great reason to shop at Toolstation.”
Notes to Editors
*Transactions must be made on the co-branded card. The interest-free period of up to 116 days applies when the customer pays their statement balance, apart from the extended interest free balance, in full and on time. The interest-free period of up to 56 days’ applies to any purchase when the customer pays their statement balance in full and on time.
**Online interviews were carried out with 1,001 UK SME decision-makers by Opinium research in August and September 2017.
Customers who sign up for either the Travis Perkins or Toolstation card will be issued a Barclaycard Flex business credit card, one of three small business cards offered by the payments provider. In addition to the perks at participating Travis Perkins companies, cardholders will also benefit from access to exclusive discounts and offers from retailers such as Argos, Zipcar, Booking.com and the AA. Furthermore, customers will be able to register for Barclaycard’s online account platform where they access a range of services including the ability to add new cardholders as well as securely viewing their PIN.
For more information please contact Linda Yang, Senior Public Relations Manager, Barclaycard, on 020 3555 5586 or siyuanLinda.email@example.com
Barclaycard is a leading global payment business that helps consumers, retailers and businesses to make and take payments flexibly, and to access short-term credit and point-of-sale finance. In 2017 we processed over £250bn in transactions globally. Barclaycard is a pioneer of new forms of payment and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting-edge forms of payment for the future. We also partner with a wide range of organisations across the globe to offer their customers or members payment options and credit.
Follow us on Twitter @BarclaycardNews