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Driving top-line sales growth has never been tougher for retailers. Pick n Pay is aiming to tackle this challenge in part with its just-introduced store card, which comes with the lure of interest-free short-term credit. It is not the first store card offered by a food retailer. Also out there are store-card credit offerings from Woolworths and Massmart’s Game and Makro divisions. However, Pick n Pay has clearly done some hard bargaining with the credit provider, BNP Paribas’s RCS division, to make sure its store card is the most cost-effective in its sector. "We have worked with RCS to design a product that has the lowest possible monthly fee and no hidden costs," said Pick n Pay deputy CEO Richard van Rensburg in a media statement. He continued: "Pick n Pay will not earn income from the credit-granting process." Pick n Pay’s store card, which for customers granted credit will be incorporated into their Smart Shopper loyalty card, carries no charge for opening, no transaction charg...

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