Citibank Belgium and Delhaize De Leeuw/Le Lion are joining forces to offer their customers a payment facility with high value added: the 'Delhaize Plus - Citibank Account'. This joint venture consists of making Citibank's financial know-how available to Delhaize De Leeuw/Le Lion customers. This initiative confirms the position of both Citibank and Delhaize as pioneers in innovative products and customer dedication.
As part of the efforts being made both to improve the purchasing and payment convenience of customers and to promote the use of electronic payments - thus promoting the safety of customers and staff alike - Citibank Belgium and Delhaize De Leeuw/Le Lion are launching a new method of electronic payment.
From March 1998, the 'Delhaize Plus Account' will be offered to customers in addition to the existing methods of payment. The financial know-how will be delivered by Citibank. The first phase of the programme will see the new payment method begin operations in 5 Delhaize supermarkets: 2 in Flanders (Mechelen and Kontich) and 3 in Wallonia (Bouffioulx, Epinois and Falisolle). After the initial test phase (March - September '98) and evaluation of the results, a decision will be made about a generalisation of the project.
Specific about this service is the combining of the traditional functions of electronic payment with the opportunity to make deposits into a savings account - all within the supermarket environment. When paying for their purchases, customers will present their 'Delhaize Plus' card at the check out and sign the printed voucher presented to them. At the 5th of every month the customer receives, at his homeaddress, an entire overview of all purchases made that month, upon which he still can wait to pay unill the 15th. Payment of the bill can be made through the customer's own bank or via Citibank. This payment facility is entirely free of charge for customers. If they decide not to pay the amount on the 15th of the month, Citibank will grant customers a credit limit of 50,000 BEF. Repayment then takes place in accordance with the following criteria: monthly instalments of 1/24th of the outstanding balance, with a minimum of 1000 BEF per month. The Annual Percentage Rate for this account will be 13.5%.
The 'Delhaize Plus Account' is an unique opportunity to create savings. Customers can also 'feed' their account in advance to pay in perspective of future purchases (e.g. by banker's order). Amounts paid into the Delhaize Plus Account attract a basic interest rate of 2.25%. In addition, customers can always withdraw their money from Delhaize check outs or from their Citibank branch.
This far-reaching joint venture between two of the leading corporations in their individual sectors offers every assurance of an extremely reliable and successful back-up for this new service to customers.
Brussels, 11th February 1998
For more information, please contact:
Michel Eeckhout, Delhaize De Leeuw / Le Lion, on tel.: 02/412.22.15
Guy Hendrix, Corporate Communications Citibank: on tel.: 02 / 626.55.27