P.F.C introduces retroactive buy-now, pay-later product

P.F.C introduces retroactive buy-now, pay-later product

Swedish payment institution P.F.C. is introducing a retroactive buy-now, pay-later option for users to convert purchases to a part-payment after the fact.

P.F.C. is a personal finance app and a free Mastercard launched at the end of 2018 and now has more than 70 000 users in Sweden. The app lets users set budgets, see spending categories, freeze and order cards, and chat with customer service reps.

The new credit product enables users to convert already made purchases to interest-free part payments with a fixed monthly fee.

“With our new part payment product, we enable our users to first buy a festival ticket or a dream vacation and then choose to split their payments after the fact. With this product, we create a broad offering with savings products, part payments and a free debit card,” says Eli Daniel Keren, co-founder and CEO of P.F.C.
“Transparent pricing is part of our DNA, which is why we choose to offer interest-free part payments with a fixed monthly fee so that the user can easily understand the offer."

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