Barclays US Enters BNPL Space
(28 April 2021 – USA) Barclays US is joining forces with fintech firm Amount to offer merchants a white label point-of-sale buy now, pay later financing service.
As the BNPL market continues to boom, Barclays is hoping to entice merchants with the prospect of letting them use their own brands to "deepen connections with their customers".
The service - set to go live with retailers later this year - will be powered by Amount's digital financial services platform, which includes fraud prevention, verification and account management. Barclays has previously invested in Amount.
Denny Nealon, CEO, Barclays US Consumer Bank, says: "Barclays presents an opportunity to drive more customer loyalty and intimacy with the brand that will help them drive sales.
"We're excited to extend our presence in the BNPL marketplace alongside Amount, a developer that has the technology and knowledge to provide consumers and merchants with a mutually beneficial purchasing process."
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