Citizens Bank is partnering with Microsoft’s Xbox All Access program to offer 0 percent APR financing and integrated point of sale (POS) through Amazon, the bank said in a press release Monday (Oct. 28).
“Consumers want affordable ways to make purchases without taking on additional credit card debt,” said Brendan Coughlin, president of consumer deposits and lending at Citizens Bank. “Xbox All Access bundles hardware, services and software with affordable and predictable financing delivered through Amazon’s online check out process.”
“Xbox All Access represents the first time a lender, manufacturer, and retailer have come together to offer a seamless way for consumers to buy, and we believe that it will be the model for how purchases are made and financed in the future,” he added.
Xbox All Access offers a choice of various Xbox consoles bundled with 24 months of Xbox Game Pass Ultimate. Users can access over 100 games plus online multiplayer gaming with Xbox Live Gold. People can also upgrade to Project Scarlett, the new console launching in the 2020 holiday season.
“While Xbox All Access isn’t eligible to be stacked with any other discounts or limited time promotions, the price you pay per month is dependent upon which console you choose and saves players over $100 dollars compared to purchasing everything separately,” Xbox said in a blog on its website.
Citizens Bank’s POS financing offers a payment and purchase model for retail purchases. The bank collaborated with the online financial company LiftForward to develop the platform for the Xbox All Access program.
Headquartered in Rhode Island, Citizens Bank is one of the largest and oldest financial institutions in the United States, according to its website.
Earlier this year, the bank started using the RTP rail developed by The Clearing House (TCH) to offer its customers faster payments. Slower payment processes can jeopardize the survival of small businesses, and real-time payment services provide more detailed information.
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