Published on 27/10/2024

Floa Circle Pay⁴ awarded at the Trophées La Conso s’engage 2024: Innovation for responsible consumption

As responsible consumption increasingly shapes shopping habits, companies that champion the circular economy and the refurbishment of products are truly making their mark. In this spirit, we are proud to have received recognition at the Trophées La Conso s’engage 2024 for our innovative initiative, "Circle Pay⁴." This prestigious award, presented by LSA, showcases the standout initiatives in the fast-moving consumer goods sector, celebrating businesses committed to fostering more sustainable consumption practices.

Floa Circle Pay<sup>4</sup> awarded at the Trophées La Conso s’engage 2024: Innovation for responsible consumption

The must-attend event of the Trophées La Conso s’engage 2024

On 18 September 2024, the annual Trophées La Conso s’engage took place at the Pavillon Chesnaie du Roy in Paris, a key event for players in the fast-moving consumer goods sector. More than 28 initiatives were honoured, chosen from 84 submissions, reflecting a strong commitment from companies to sustainable and innovative solutions. Among the winners, our team took home the award in the "Service Provider" category for Floa Circle Pay⁴, a payment solution⁴ that transforms the customer experience while involving consumers in a holistic circular approach.

Floa Circle Pay⁴: Addressing the current challenges of responsible consumption

For several years, we have been supporting consumers with straightforward and flexible financing solutions. Floa Circle Pay⁴ takes this a step further by fully embracing the transition to more sustainable consumption practices, particularly through the promotion of the circular economy. Its objective? To integrate refurbishment and recycling right into the heart of the purchasing process.

Thanks to Floa Circle Pay⁴, consumers can return an old product when purchasing a new one, without any logistical hassle for retailers, thus facilitating refurbishment or recycling. This innovative solution not only reduces the cost of a purchase but also extends the lifespan of products by making it easier to reintegrate them into circulation. It anticipates future equipment trade-in schemes, encouraging consumers to take care of their belongings to maximise their residual value.

An innovation that transforms the shopping experience

Floa Circle Pay⁴ seamlessly integrates the principles of the circular economy into the shopping experience. When you make a purchase, the value of your old equipment is recognised immediately: it can be traded in, with its buyback included in the financing offer, which helps lower your monthly instalments. But there’s even more! We also provide an estimate of the product’s residual value two years down the line, encouraging consumers to take good care of their items and consider future refurbishment options.

Since launching with Cdiscount in February 2023, Floa Circle Pay has boasted an impressive customer completion rate of 94%¹, along with an average basket increase of 30%¹ compared to standard purchases. With an overall satisfaction score of 4.6 out of 5 and a Net Promoter Score (NPS) of 71², this solution has captured the hearts of both consumers and online merchants.

A solution users love

Floa Circle Pay⁴ continues to win over new fans, as evidenced by a survey conducted in May 2024 with over 1,500 users. The results reveal that 90%² of respondents are eager to see this solution expanded to other product categories. Initially launched with a select range of tech products—such as smartphones, smartwatches, gaming consoles, vacuum cleaners, and computers—we are actively working to extend this solution to many more sectors in the near future.

A strong commitment to more sustainable consumption

With Floa Circle Pay⁴, we are strengthening our commitment to responsible consumption. This unique payment method forges a connection between purchasing and sustainability, promoting not only the refurbishment of products but also circular consumption.

Marc Lanvin, Deputy CEO of Floa, emphasizes this mission: “Circle Pay is much more than just a payment solution. It allows us to redefine how we consume by encouraging recycling and reuse, all while providing consumers with a flexible financing solution.”

Towards a more responsible future

Floa continues to innovate with financing solutions that support the circular economy, as evidenced by its recent partnerships, including one with Neat for home appliance warranties and another with Easy Cash for financing second-hand products. These initiatives, along with Circle Pay⁴, reflect a clear strategy: to promote more responsible and sustainable consumption practices.

As 56%³ of users of split payment solutions choose this financing method to purchase more environmentally friendly products, Circle Pay⁴ stands out as a tangible response to this growing demand. The solution combines flexible payment options, environmental responsibility, and consumer accountability within a comprehensive circular approach.

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