News and resources on payments systems, innovations and initiatives worldwide.
Barclays to offer instalment payment plans with Amazon

Barclays to offer instalment payment plans with Amazon

UK consumers can now apply for a reusable credit account from Barclays, which lets them spread the cost of purchases over £100 on amazon.co.uk in equal monthly instalments

Amazon shoppers will be able to select their choice of instalment plan at the checkout, complete an online application, and in most cases they’ll receive an immediate response from Barclays letting them know whether they’ve been approved, and setting out their spending limits. Financing options are available on terms between 3 - 48 months

If approved, customers will find their reusable credit account added to their wallet and available at checkout while shopping on Amazon, allowing them to make repeat purchases without needing to reapply, as long as they remain within their overall credit limit and monthly payment limit.

Debt repayments are automated via Direct Debit and the account can be managed directly through the Barclays App, even if the customer doesn’t bank with Barclays.

Ruchir Rodrigues, head of Barclays cubed & consumer bank Europe, says: “This is another major step in our ambition to reinvent payments at the point-of-sale and delight customers. Amazon offers a world-class shopping experience, and this new service gives users a fully reusable payment-by-instalments option, which they can use to spread the cost of purchases over a longer period.”

Last year, Barclays and Amazon announced the launch of a similar offering for purchases made on Amazon.de in Germany.

The roll out to the UK comes just three months after Barclays hired Amazon's head of European payments Antony Stephen to lead the bank's foray into the booming buy now, pay later market.

Comments: (1)

Michael Fuller
Michael Fuller - None - London 17 December, 2021, 16:21Be the first to give this comment the thumbs up 0 likes

I'm confused. Barclays are primarily a Visa credit card issuing bank which Amazon are going to ban from 19 January. Is introducing BNPL their answer to the fact that tens of thousands of their customers will be unable to pay for goods on Amazon from 19 January?