Retailers across the UK and Europe are increasingly turning to Buy Now, Pay Later (BNPL) services to offer customers more flexible payment options. Clearpay, a leader in the BNPL space, has recently announced partnerships with household and garden retailer wilko, parenting favourite Online4Baby and one of Europe’s fastest growing ecommerce businesses OnBuy.

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Latest UK figures show that BNPL was used in 14% of all online purchases in March 2023, up from 12% in January 2023, indicating that consumers are increasingly preferring the flexibility of BNPL, which allows them to manage their budgets and spend responsibly, without the risk of falling into revolving debt

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The move follows successful customer uptake at the online checkouts of leading beauty brands MAC, Jo Malone, and Urban Decay, which have all partnered with Clearpay.

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Rich Bayer, UK country manager at Clearpay, said: “In March 2023 alone, Buy Now, Pay Later was used by consumers to make £1.2 billion worth of orders1 and we expect this number to continue to grow. Our retail partners are seeing the value that Clearpay brings to their businesses, as we help to drive more customers to them – globally we send one million customers to our merchants every day. We’re delighted to welcome our new retailers on board and to expand our services in-store with partners who already see the benefits of Clearpay online, and we look forward to helping them grow their businesses.”

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Ben Exall, wilko digital director, said: “Respecting our customers’ time and hard-earned cash are key drivers for any improvements to our customer experience.  Working with Clearpay means we’re able to offer even more choice and easier ways to pay and we’re excited by this new partnership.”

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Sources: https://retailtimes.co.uk/clearpay-expands-with-wilko-mac-jo-malone-urbn-online4baby-to-offer-customers-flexible-payments/