Amazon has partnered with Barclays to launch their new BNPL service ‘Instalments’ for consumers in the UK, which will charge interest over the payment period.
Instead of calling it buy now, pay later, Amazon has called the new venture ‘Instalments’. In a statement from Amazon, it said the new payment method can be used on purchases of GBP 100 or more on Amazon.co.uk. Customers can spread the cost over several instalments between three and 48 months after purchase.
The reusable credit account can be used on millions of products, including those from small and medium businesses selling on Amazon, Amazon said.