Pick n Pay says it has granted R1 billion for its credit cards facility which was launched last year, in a scheme that allows customers to purchase food on credit. The supermarket group announced that 56 000 customers had taken up the store credit card since the product was launched in September 2017. Pick n Pay came under criticism when it launched the product, with concerns that the facility would sink cash-strapped consumers further into debt. Debt Rescue CEO, Neil Roets said the VAT increase which came into effect at the beginning of April, together with fuel price hikes had placed consumers in an exceptionally difficult economic cycle, with more than half of economically active people falling behind by three months or more in credit repayments. “What for many was clearly a last resort, the Pick n Pay credit line was clearly a last-ditch effort to feed their families”. – Fin24

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