The Freds.com Group enable payments by Mobile Phone Recycling
16 March, 2009
In an industry first, the Freds.com Group have partnered with ShP Limited,to offer debtors the ability to credit their accounts by recycling their unwanted mobile phones.
Group marketing director Jan-Michael Lacey commented:
“The freds.com Group are constantly striving to be innovative and are renowned in the industry for our leading edge systems. We believe in removing barriers to repayment and have proved this time and again for example deploying the first fully functional online payment portal in the industry—www.fredpay.com—and replacing giro slips with barcode payment technology.”
This is an exciting new way of generating recoveries as it enables debtors to realise the value of unused assets and have their accounts credited accordingly. The other significant benefit is that this process is environmentally friendly and assists in helping reduce the UK’s e-waste.
The service works as follows:
- The debtor visits the Freds.com recycling website and enters details of the handset to be recycled.
- An immediate online quote is then made based on handset type and condition.
- The debtor then sends the phone by freepost to ShP Limited who, upon receipt, recycle the phone and transfer the agreed amount to Freds.com.
- The whole amount is then credited to the debtor’s account and reduces the total outstanding balance.
The freds.com parent company, Fredrickson International, went live with the new recycling service www.freds.com/recycle on the 16th March and another group company, SRJ Debt Recoveries, will follow closely behind towards the end of March.
Lacey continued:
“We have several clients who are monitoring the situation closely and if it proves successful have already stated they would wish to deploy a similar service themselves, we also expect to see some of our competitors follow suit and would be delighted if they did so. We all have a responsibility to ensure the welfare of our environment.”
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