Coin meter payment systems allow customers to manage their finances in a very convenient and easy way. Coin meters can be programmed to all individual customer needs and preferences, and the customer owns the product as soon as all the payments have been made. The coin meter payment system is usually connected between the TV and the mains power, but you don’t have to use it to buy a TV, customers use coin payment meters on their existing TV’s to pay for a wide range of goods including laptops, washing machines, sofas, fridge/freezers, bikes, cookers and furniture.
The coin meter is programmed for the customer to charge a specific number of viewing based on hours per pound, which varies depending on the weekly payment and amount of TV watched. Alternatively, the meter can be set up to charge on a specific day only, when your weekly or monthly payment is due. Once payment is made, the rest of the time the meter will seamlessly shift to free running operation until the next payment day is due. With most companies an account manager will visit you regularly too empty the meter and check everything is working as it should. They will also leave a receipt for the money collected. If there has been an overpayment, then customers can usually choose between getting a cash rebate or use the extra to offset against the outstanding balance. Most customers use the coin meter payment system to put aside some each week as a form of savings.
The most well known company in the UK using this system is called Pay as You View. Pay as You View offer customers an easy way to purchase home furniture and electrical products with affordable weekly payments collected via a coin meter attached to the TV. They welcome applications from customers with poor credit history, but their credit is subject to status. Every applicant is assessed individually and customers that have had financial difficulties in the past are still in with a good chance of getting accepted. Once accepted products are delivered within 72 hours and professionally installed for a small charge. Customers are required to have a Smart Meter which allows weekly payments to be managed and if you fail to make payments on time, the meter may restrict the use of the TV.
