UK-based financial services provider HSBC has partnered with OVO to offer customers new financing options for green technology. Through the collaboration, OVO customers can now use HSBC Flexipay to split the cost of products like solar panels and batteries over time, making it more affordable for individuals to go green. The two companies also plan to introduce financing options for heat pumps and electric vehicle chargers in the future.
This partnership comes after OVO teamed up with Pay with Bank Transfer, powered by American Express, to streamline bill payments for customers. The collaboration allows OVO customers to pay bills directly from their bank accounts, eliminating the need for entering card details or completing authentication checks, making transactions more efficient and convenient.
Research shows that a significant number of people are interested in installing green technology in their homes, but find the upfront costs prohibitive. By offering flexible financing options through HSBC Flexipay, OVO aims to make it easier for individuals to afford and install green technology, ultimately reducing energy costs and carbon emissions in the long run.
According to OVO representatives, the partnership with HSBC will make home decarbonisation more accessible to consumers across the UK. Customers will have the option to use HSBC Flexipay at the online checkout, regardless of whether they have an existing HSBC account, making it convenient for individuals to invest in sustainable technology for their homes.
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