Amazon is working with Barclays on new accounts that allow customers to access UK installment payments, according to a press release emailed to PYMNTS.
Called ‘Installment Payments by Barclays’, the plans are meant to help customers access more flexible payment options and fund purchases of £ 100 (around $ 133) or more on amazon.co.uk, the company said. communicated. Credit accounts are reusable and can be used on many products, including those for small and medium-sized businesses (SMBs) selling through Amazon.
Users can choose from multiple plans at Amazon’s checkout, complete an online application and get a response from Barclays on whether they’ve been approved, the statement said. Approved customers will find their reusable credit account added to their wallet on Amazon and available to them during checkout.
Financing options are available for terms ranging from 3 months to 48 months, according to the release. Payments are automated by direct debit.
“Every day we strive to innovate on behalf of our UK customers,” said Amazon UK’s installment loan manager. Rob levy in the output. “Installment payments are one way to give customers flexible options, allowing them to choose to pay now or split the cost of larger purchases into economical monthly installments. It is a simple and transparent service from Barclays that automates monthly payments, providing greater convenience for customers making larger purchases.
In other Barclays news, the company appointed Antony Stephen, director of payments for Amazon Europe, as CEO of the point-of-sale (POS) finance division and Clydesdale Financial Services legal entity in September.
Read more: Barclays uses Amazon Exec to lead UK point-of-sale finance unit
Stephen has over 25 years of experience in payments and financial services. Previously, he was Director and General Manager of Amazon Europe, which he held for three years.