Citizens Announces Consumer Funding Partnership with BJ’s Wholesale Club
PROVIDENCE, RI – (COMMERCIAL THREAD) – Citizens today announced a partnership to provide consumer finance to BJ’s Wholesale Club (NYSE: BJ), one of the leading member warehouse club operators in the eastern United States. Citizens Pay will soon be available for BJ members to pay for major purchases, such as televisions, appliances, and home furnishings, with low monthly payments.
“Consumers want affordable options for making responsible large purchases with ease and simplicity,” said Andrew Rostami, president of Citizens Pay. “This partnership allows us to provide point-of-sale financing to millions of BJ members to make major, everyday purchases through a simple, seamless and fully digital experience.
BJ’s will launch Citizens Pay in the first quarter of this year for orders placed on BJs.com for delivery and with online purchase, club pickup and curbside pickup. BJ members will easily be able to choose Citizens Pay financing options right in the BJs.com shopping experience. BJ’s and Citizens will expand the partnership to include funding for club purchases with BJ’s mobile app in the second quarter of this year.
“We provide our members with unbeatable value and convenience on everything they need from one stop. We are delighted to partner with Citizens to provide our members with a simple and affordable way to pay for large purchases, ”Chris DeSantis, Senior Vice President, GMM, Sundries and Services, BJ’s Wholesale Club. “Whether our members are buying a new TV, refrigerator or bedroom set, we give them more flexibility to buy what they need with Citizens Pay. ”
Citizens Pay gives consumers a better way to finance their major purchases, with easy-to-understand, low fixed monthly payments through a virtual line of credit that can be used for repeat purchases without re-applying for credit or managing multiple loans. Retailers can benefit from immediate sales and increases in average order value by taking advantage of the platform’s best digital and in-store customer experiences, combined with comprehensive product and financing options for consumers across the credit spectrum. . Citizens Pay is easy to integrate for merchants and can be launched in days while being scalable for larger and more complex merchants.
Citizens is a leader in point-of-sale financing and since this program’s inception, over $ 6.4 billion in loans have been made and the company has served over 5 million accounts. Loans in this program are not securitized, allowing Citizens to maintain a high quality customer experience while acquiring customers nationwide.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with assets of $ 183.3 billion as of December 31, 2020. Headquartered in Providence, Rhode Island, Citizens offers a wide range of retail and commercial banking products and services to individuals, small businesses, mid-market businesses, large corporations and institutions. Citizens helps clients reach their potential by listening to them and understanding their needs in order to provide tailored advice, ideas and solutions. In consumer banking, Citizens offers an integrated experience that includes mobile and online banking, a 24/7 customer contact center, and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, credit, savings, wealth management and small business offerings. In commercial banking, Citizens offers a wide range of financial products and solutions, including loan and leasing services, deposit and cash management, currency risk management solutions, interest rates. interest and commodities, as well as loan syndication, corporate finance, mergers and acquisitions, and debt and equity market capabilities. More information is available at www.citizensbank.com or visit us at Twitter, LinkedIn or Facebook.
About BJ’s Wholesale Club
BJ’s Wholesale Club Holdings, Inc., headquartered in Westborough, Massachusetts, is a leading operator of member warehouse club in the eastern United States. The company currently operates 220 clubs and 150 BJ’s Gas® locations in 17 states.
The Company’s common shares are listed on the New York Stock Exchange (NYSE: BJ).