NAMM Introduces New Private Label Consumer Credit Card Program for Dealers
New NAMM Music Money Platinum Card™ Gives Dealers of All Sizes New Customer Financing Options
NAMM, the International Music Products Association and GE Retail Sales Finance today launched a new program to help retail Members sell more music products and build greater customer loyalty and repeat business. NAMM's new Music Money Platinum Card™ program lets retailers put a store-branded, music-specific credit card in the hands of customers looking for additional purchasing power.
The Music Money Platinum Card comes with some great dealer benefits, including:
• A low discount rate, typically lower than VISA/MasterCard/AMEX/Discover, minimizing exposure to consumer defaults
• New financing options including 30 days' deferred interest and low monthly payments
• Instant credit, easy applications, solid customer service and low risk
• Fast credit of sales. Most funds transferred within 48 hours
• No start-up and processing costs, free terminal, free applications, cards and in-store promotional materials
"Our retail Members asked us to provide a private label consumer credit card program and we listened," said Judy Bohlim, director of membership, NAMM. "The GE program offers our Members the financial resources trusted by millions of consumers and thousands of other associations nationwide and great service to back it up."
"We are very pleased with the opportunity to work with NAMM to deliver the Music Money Platinum program to its dealers," said Glenn Marino, president, GE Retail Sales Finance.
Marino added that consumers are buying musical instruments and music related products at the highest level in more than two decades, and that they are increasingly looking for convenient financing to pay for their purchases.
"NAMM Members will find that the Music Money Platinum program was designed with their needs in mind, and will allow them to grow sales and drive repeat business with a flexible, convenient credit program," Marino said.
The only cost for the program is $35 per month minimum discount fee, which is not charged if the dealer submits monthly credit volume that exceeds the $35 minimum.
For details and further eligibility requirements, interested parties should contact GE directly at 800.244.7354.
About GE Retail Sales Finance
GE Retail Sales Finance is a leader in providing credit services to retailers and consumers. Formed in 1932 as a provider of consumer financing for GE Appliances, GE Retail Sales Finance provides private label credit cards, commercial programs and card-related financial services for hundreds of retailers and manufacturers across North America.
GE Retail Sales Finance offers clients a full range of operational, financial and analytic support, and develops marketing programs designed to increase sales and customer loyalty. This philosophy of partnership has helped it grow to over $18 billion in total assets and to serve more than 70 million cardholders. For more information about GE Retail Sales Finance, contact 1.800.244.7354.
The National Association of Music Merchants (NAMM) is the not-for-profit association with a mission to strengthen the $17 billion music products industry. NAMM is comprised of approximately 10,300 members located in 104 countries and regions. NAMM events and members fund The NAMM Foundation's efforts to promote the pleasures and benefits of music, and advance active participation in music making across the lifespan. For more information about NAMM, please visit www.namm.org, call 800.767.NAMM (6266) or follow the organization on Facebook, Instagram and Twitter.