Purchasing Power is a specialized online retailer of consumer goods that it is offering through an employee purchase program for Fortune 500 employees, federal government and military employees, and health care workers in the United States. Payments for the items purchased from Purchasing Power are automatically deducted from the employee's paycheck or bank account, notes the company's website.
Purchasing Power, LLC is based in Atlanta, Georgia, and was founded in 2001. Among the products the company is offering include television and video products, computers and tablets, appliances, fitness and recreation products, furniture, musical instruments, jewelry and handbags, according to Bloomberg. Vacation packages and educational services are also offered by the company.
When buying from Purchasing Power, employees only pay for the price tag on the items and it does not come with hidden charges or huge interest. The other advantages of shopping via Purchasing Power is that the company no longer needs to run a credit check on applicants, the automatic payroll deduction system makes paying easier and the employees no longer have to worry about late fees.
After purchasing, the items are immediately delivered as the employees pay for it in increments over time. The company also claims to promote responsible spending as the spending limits of qualified employees are based on their salary and tenure. As of 2015, around 7.8 million American workers have signed up with Purchasing Power, as stated on their website. Interested employees should meet the company's minimum eligibility requirements to participate in the program.