Best Buy Canada Ltd. and financial cooperative Desjardins Group have announced a new partnership that will see Desjardins, through its card and payment services business unit, acquiring both the Best Buy Canada and Future Shop private-label credit card portfolios.
Along with the two branded credit card portfolios, Levis, Que.-based Desjardins will also be acquiring most outstanding loans and client accounts.
In addition, all Best Buy Canada and Future Shop stores nationwide will offer Desjardins’ Accord D financing, a one-of-a-kind product to finance in-store purchases.
Financial terms were not disclosed.