O2 launches business finance options for upgrades

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Operator will use platform provided by Equiniti Pancredit for business loan service

O2 has partnered with loan provider Equiniti Pancredit to launch finance options for upgrading businesses.

The operator’s new ‘Business Essentials’ initiative allows organisations to separate the cost of the tariff from the cost of the device, similar to O2’s consumer Refresh tariff.

O2 has selected Pancredit to provide the technology which allows businesses to spread the cost of the device with zero APR over 24 months.

It works as a complete loan application, administration and collection system, similar to that used by several (unnamed) UK banks.

Features found on Pancredit’s software includes real-time contract signing; full integration into O2’s call centre and online systems; real-time integration with Salesforce CRM and bank transfer systems.

O2 Business GM of SMB Paul Lawton said: “When developing Business Essentials we needed a solution that could provide the best customer experience.

“We wanted to ensure that the process was user-friendly for our customer service team and nimble enough for business customers applying online. Equiniti Pancredit was the perfect fit.”

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