Buy Now Pay Later

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Buy Now Pay Later

Product overview

What is Buy Now Pay Later?

An unsecured personal loan over a fixed-time that allows your customer to repay the loan amount in equal monthly payments with a deferred first payment.

  • The first payment is deferred (delayed) for a set period or until a specified future date
  • The deferral period is a payment holiday, NOT an interest free period
  • Offering a deferral period for the first payment could help attract a wider customer base and increase basket sizes
  • Competitive fees compared to other products


Benefits for your customers

  • Customers may be able to make purchases earlier by having a payment holiday at the start of the loan
  • Customers are able to wait to confirm they are happy with the delivered/fitted product before paying the balance of the loan
  • Fixed monthly payment amounts enable customers to incorporate into monthly budgeting
  • Reach a wider customer base by offering a range of POS finance options

Explaining BNPL to your customers

Representative example

Item value (cash price) £1,200.00
Deposit £0.00
Total amount of credit £1,200.00
Duration of agreement 18 months
Representative APR 19.99% APR
Annual rate of interest 10.69% p.a.
12 monthly payments of £110.18
Total amount payable £1,322.16

Example is for illustrative purposes only

Who can apply?

To be eligible to apply for one of our finance products, your customers must be:

  • 18 years or over on the date of application
  • A permanent UK resident for a minimum of three years and either:
    • In regular, permanent employment working a minimum of 16 hours a week (including students)
    • Self-employed
    • Retired from regular employment and aged 50 years or older
    • In receipt of incapacity benefit

Subject to application, financial circumstances and borrowing history