buy now pay later news and archive

MPs criticise London Fashion Week sponsorship deal with Clearpay

The British Fashion Council is facing a backlash after naming buy-now-pay-later payment service Clearpay as the principal partner ofLondon Fashion Week, which kicked off on February 19. A cross-party selection of 60 MPs has signed a letter expressing their concerns to the British Fashion Council regarding thesponsorshipdeal, a well as urging...

Feb. 22, 2021

Fashion

London Fashion Week names Clearpay as principal partner

The British Fashion Council has confirmed that buy-now-pay-later payment service Clearpay will be the new principal partner of London Fashion Week, starting from this up-coming season kicking off on February 19. On a Zoom call, Caroline Rush, chief executive of the British Fashion Council, explained that Clearpay would be partnering with London...

Feb. 10, 2021

Retail

Afterpay announces cross border commerce for merchant partners

Afterpay, a ‘buy now, pay later’ payments service, has announced it is launching cross border commerce for merchant partners to open their e-commerce sites to consumers in Australia, Britain, Canada and New Zealand. The company, which is known as Clearpay in the UK, plans to open its merchant partners’ e-commerce sites to US consumers next year....

Nov. 13, 2020

Retail

PayPal launches 'Pay in 3' feature in UK

PayPal has launched a new feature in the UK allowing customers to make purchases over three, interest-free payments. The new PayPal Pay in 3 feature can be used for purchases between 45 and 2,000 pounds and will appear directly in customers’ PayPal wallets. Businesses will not have to pay any extra fees to enable the new feature, and PayPal will...

Oct. 14, 2020

Retail

PayPal launches ‘buy now, pay later’ service

Payment platform PayPal has launched a new ‘buy now, pay later’ service, allowing users in the US to pay for products in four interest-free instalments. With the new ‘Pay in 4’ feature, merchants and partners will be paid upfront while customers can pay for purchases between 30 dollars and 600 dollars over a six-week period. The service is also...

Sep. 1, 2020

Business

Klarna H1 losses increase sevenfold but net operating income soars

Swedish payment provider Klarna has seen its losses widen sevenfold for the first half of the year as the fast-growing company continues to invest in its global expansion. The firm reported a net loss of 522 million swedish krona (46 million pounds) between January and June, compared to the deficit of 73 million krona it reported in the same...

Aug. 28, 2020

Retail

Klarna releases new mobile shopping app

Klarna has updated its shopping experience through a new mobile app that allows consumers access to exclusive deals and product launches. As an alternative payments solutions provider, Klarna's retail offerings are always centered around adding convenience to commerce. In addition to allowing consumers to shop online and pay in four...

Jun. 29, 2020

Retail

Is buy now, pay later the new financial crisis for millennials?

Splashing out on a new wardrobe has never been easier. Shopping for amazing fashion under the guise of buy now pay later (BNPL) has seen a new generation face increased debts, specifically for buying clothing and accessories. Once the maxim of credit card companies, where spending large sums on big ticket items could be paid in instalments, it...

Feb. 12, 2020

Retail

Tech company SplitIt offers payment installments on credit cards

Alternative payment solutions are on the rise, giving consumers more purchasing power by allowing them to buy-now-pay-later. As new providers of payment solutions pop up, retailers are given more opportunities to offer their shoppers pay-later schemes. Global payment technology solution company SplitIt just announced a new partnership with...

Jan. 30, 2020

Retail

H&M to expand Klarna payment services to US market

H&M is expanding its Klarna payment services, including its buy now, pay later function, to the US market,after the two companies announced a global partnershipback in October. The partnership extends across H&M’s online and in-store channels, and aims to provide “frictionless and flexible payments”, which includes Klarna's leading 'Shop now,...

Jun. 27, 2019