22 Apr

The tying of bank cards with other services and products has additionally been a problem.

Cross-Selling

Reckless financing throughout the EU can also be connected with cross-selling. When you look at the current context, cross-selling, also referred to as item bundling, is the training of attempting to sell a credit item as well as another economic item, such as for instance insurance coverage. Cross-selling may take the type of a tying training, and thus another economic item is created mandatory to acquire a loan from the offered provider. Instead, such an item could be agreed to customers as an optional additional (cf. Global Financial customer Protection organization (FinCoNet) 2017, p. 31). Cross-selling of financial loans can lead to a scenario where customers buy items that they don’t fundamentally wish or need and that involve additional charges and costs. Read More