Amazon UK launches BNPL service with Barclays

Amazon has partnered with Barclays to enable customers to pay in instalments in the UK.

Instalments by Barclays will enable to split the cost of purchases of £100 or more on the e-commerce giant’s UK website.

Financing options will be available on terms between three and 48 months.

“Every day we strive to innovate on behalf of our UK customers,” said Rob Levy, head of instalment lending, Amazon UK. “Instalments is one way we will offer customers flexible options, enabling them to choose to pay now or split the cost of larger purchases into budget-friendly monthly instalments."

Levy added: “This is a simple and transparent service from Barclays that automates monthly payments, providing greater comfort for customers making bigger purchases.”

First time users will select their choice of instalment plan from available term options at Amazon checkout, complete an online application, and in most cases they’ll receive an immediate response from Barclays letting them know whether they’ve been approved, and setting out their spending limits.

A customer may not receive an immediate response if there is insufficient credit data to allow Barclays to determine how much credit they can comfortably afford.

According to the partnership, all lending is fully regulated by the FCA and Barclays carries out robust credit and affordability checks to ensure that the customer is not given access to more credit than they can comfortably afford.

Ruchir Rodrigues, head of Barclays cubed & consumer bank Europe, said: “This is another major step in our ambition to reinvent payments at the point-of-sale and delight customers. Amazon offers a world-class shopping experience, and this new service gives users a fully reusable payment-by-instalments option, which they can use to spread the cost of purchases over a longer period.”

Payments are automated via Direct Debit and the account can be managed directly through the Barclays App, even if the customer doesn’t bank with Barclays.

Barclays offers this credit account at an APR of 10.9 per cent for online purchases on Amazon.

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