Barc & Amazon31 Oct 2021 18:59
Barclays is taking on buy now/pay later fintechs such as Klarna that have expanded rapidly in the U.K. by offering short-term, interest-free installment loans to consumers. And Amazon is indirectly tied to the effort.
Barclays is reportedly working on a partnership with Amazon to offer interest-bearing installment loans for the e-commerce giant’s U.K. customers. Barclays has provided interest-free installment loans for iPhones with Apple U.K. since 2019.
Barclays has appointed Antony Stephen, former head of Amazon Payments Europe, as CEO of Barclays Partner Finance, which provides U.K. consumers with point-of-sale financing and installment loans for higher-value purchases such as home improvements and furniture.