Mother and child at Christmas

SmartPay: The smarter way to pay for Christmas

20 October 2023

We’re thrilled to bring SmartPay to life for our clients and consumers. SmartPay is the smart way to pay, helping your employees avoid high-interest loans or credit cards by spreading the up-front cost of technology, appliances, wellbeing, and lifestyle purchases through affordable and manageable salary deductions. Read on to discover what SmartPay can do for your people and business.

40% of Brits say they expect that Christmas 2023 will be more expensive than last year. (Barclays) 


Your employees have choices to make:


  1. Spend less on gifts.

  2. Set money aside.

  3. Cut back on non-essentials.

  4. Use credit cards and loans.

  5. Stretch payments over a manageable period.


Let’s review these options…


Spending less on gifts


18% of Brits have mutually agreed with their loved ones to cut back on Christmas gifts (Barclays).


Christmas isn’t just about gifts. It’s about coming together as a family. However, there are circumstances where we may feel like we can’t cut back, such as when parents are considering what to get their children.


SmartPay doesn’t encourage your people to live beyond their means.


You can set scheme limits and even the application window period, keeping you in control, regardless of whether you pay your employees weekly or monthly.


As an ethical partner, we ensure your scheme complies with the National Minimum Wage so you can have peace of mind knowing that all salary deductions are done fairly and legally.


Setting money aside


20% of Brits have bought presents early to spread the cost (Barclays).


Great minds think alike!


Unfortunately, rising living costs have tightened household budgets, and not all employees can set money aside.


In the UK, 11.5 million people have less than £100 in savings - less than the cost of a weekly shop for a family of four. Spreading the extra cost of Christmas over a few months may not be feasible. However, with SmartPay, your employees can spread their Net salary deductions over 12, 18, 24, or 36 months.


Longer scheme repayment plan = less financial impact.



Financial Wellbeing Guide



Cutting back on non-essentials


We’ve seen this pattern in the UK for some time. It’s why our Pluxee Discounts Platform is so popular with employers and employees – it makes the things that bring us joy more affordable.


One person’s non-essential is another person’s must-have!


When we discussed our SmartPay offering with our Pluxeers, the subject of essential items was a key theme. Should it just be for expensive household purchases? Should we even consider it for Christmas?


The debate was genuine because we take pride in being a trusted partner and encourage responsible financial decisions. Then, one of our colleagues said, “My children’s Christmas gifts are an essential item.”


This is the reality for many parents.


The concept of SmartPay isn’t to encourage employees to spend beyond their means. It’s to give them a better way to afford the things they’ll somehow find a way to pay for.


Credit cards and loans


Let’s talk Christmas… especially when you’re a parent. A parent’s love for their children defies financial restraints, going above and beyond to bring them joy.


So, what do parents do if they don’t have the funds available?


They turn to store cards, credit cards or loans.


These options are far from ideal because they accumulate interest – especially if a payment is missed.


SmartPay scheme repayments do not accumulate interest, and your employees can’t miss them because your payroll department automatically deducts them from their salary.


Stretching payments over a manageable period


The figures published by Barclays suggest that many Brits have spread the cost of Christmas during the year.


SmartPay makes it even easier for your employees to spread the extra expense! 


Our scheme calculator ensures employees know exactly how much money you'll deduct from their salary and how long for.


With credit cards, the more you repay each month, the better because it reduces the interest. Still, you’ll always end up repaying more than the value of your purchase.


SmartPay is different.


Your employees can use the scheme calculator to understand the difference between a 12, 18, or 24-month repayment plan. Whether they pay more over a shorter period or less for more is up to them – and you.


Your employees repay the value of the goods they’ve purchased – no more, no less.


Surely, SmartPay is another loan?


SmartPay is an agreement between employer and employee – no other financial body. As an employer, you cover the upfront costs and deduct the repayments from your employees’ NET salary. 


Unlike any loan your employees will find on the high street, SmartPay doesn’t accumulate interest or impact your employees' credit scores. Personal loans can positively impact an employee’s credit score but quickly turn negative if repayment issues arise.


More peace of mind + more financial support = less financial anxiety.


Smarter for your business


We’ve established why SmartPay is good for your people, but what can it do for your business?


Enhancing your Employee Value Proposition: SmartPay helps you prioritise your employees’ financial wellbeing – their families too! A strong EVP enhances your ability to attract top talent and retain valuable employees.


A return on investment: The average credit card debt per household in February 2023 was £2,277. The average total unsecured debt per UK adult was £3,965, with the average debt per UK household being £65,510 (The Money Charity).


Unsecured debts come with higher interest rates, making it easier to fall into a cycle of debt.


Increased debt = increased stress!


Mentally resilient employees: Money worries cost the UK economy £120bn and 17.5 million lost hours of work. Offering your employees a smarter way to pay reduces their money worries, making them more present, productive and engaged.


Happy, healthy and loyal employees: 5 million Brits live without a cooker, fridge, freezer or washing machine. SmartPay makes these essential household items affordable, creating happier and healthier employees.


Christmas Guide banner


Let’s get smart.


We’re proud to say that we have the widest range of retailers across tech and lifestyle salary deduction schemes on the market. SmartPay makes high-cost purchases with Currys, Wickes, John Lewis, Argos, Decathlon, Ikea, and B&Q, affordable for your employees.


Are you ready to make a significant difference to your employees’ financial wellbeing?


Arrange a call today.






The Money Charity