By Aimee Chanthadavong
Harvey Norman will continue to offer its customers with interest-free promotions through its GO Mastercard.
The giant retail chain has renewed its contract with its finance provider GE Money for an extra five-year.
Gerry Harvey, Harvey Norman executive chairman, told Retailbiz that he is pleased about the contract renewal and hopes to be able to continue to develop the “very good” relationship that exists between Harvey Norman and GE Money.
“At the moment, our GO Mastercard is heading to reach 1 million card holders, which is a very high take up rate for a card that has only been running for a five year period. It’s a fantastic achievement,” he said.
“Customers on the GO card are signed up to Harvey Norman’s loyalty scheme that lets them walk in and automatically become an accredited card holder without the hassle of filling out any additional forms. They can also use the card to buy their groceries or use it to travel elsewhere and by this type of relationship is most valued in the retail sector.”
Harvey also admitted that the company’s relationship with GE Money has been so successful because they aim for the same target market.
“The good thing with Harvey Norman is our target is mid to upmarket, which suits them [GE Money] in getting to the same clientele.”