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Superior Grocers has signed a major distribution agreement with Essentia Financial Services LLC, a Fort Worth, Texas-based provider of retail-specific consumer financing solutions, for the ChargeIt+Plus charge card in all of Superior’s Southern California locations.
The agreement makes the card available to all qualified Superior Grocer customers, providing the Santa Fe Springs, Calif.-based grocer with the ability to safely extend immediate credit to its shoppers at the point of sale whenever needed.
“Nearly 60 million US consumers are financially underserved and need short-term credit,” noted Essentia CEO Tommy Glenn. “For grocery, convenience stores and other retailers, this can limit sales in between their customers’ pay cycles. The ChargeIt+Plus card gives financially underserved consumers immediate credit for life’s essentials, without having to worry about bank overdraft or other high fees.”
Superior is the fifth regional grocery chain partner for Essentia. Other retail commitments now being implemented will grow the total number of the provider’s retail distribution outlets to almost 1,500 by the first quarter of 2013. At each location, the ChargeIt+Plus card is designed to create higher retailer loyalty and repeat sales, a recurring revenue stream and more ways to serve the shopper via a long-term customer relationship. The card aims to generate more spending power for consumers and a competitive advantage for the retailer, with good funds guaranteed by Essentia to the retail partner.
Under the terms of the agreement, Superior customers can apply for the card 24 hours a day, and if approved, receive credit for instant in-store use, with Essentia providing all customer support and card account servicing.
One of the largest independently owned chains of grocery stores in Southern California, Superior operates 39 stores.