leumi card 88.
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Supersol announced on Sunday the launch of its first branded store credit card through Leumi Card, which is designed to offer its customers alternative financial resources ahead of the new credit regulations that will come into effect from January.
"The store credit card will serve as a new platform for our customers to make purchases. The credit card represents a non-banking financial source which will not be affected by the elimination of excess overdraft banking rules from January 1, 2006," said Leumi Card CEO Arie Heilweil. "This is a joint effort of two leading companies to address a new reality faced by its customers."
From January 1, corporate Israel and households alike will be forced to stay within their credit limits.
Supersol will be offering two types of credit cards to serve as an alternative credit source to make food purchases in all of Supersol's stores from 2006.
One is a regular deferred debit card and the other will be a revolving credit card, which each month allows customers to decide how much they want to repay the credit card company.
Leumi Card did not disclose information on the interest that will be charged on purchases but said that the interest will be within the range or less than on alternative credit cards.
The new service will work more like the store credit cards widely offered by global chains such as Marks & Spencer, Walmart and Tesco.