European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
No Result
View All Result
Home < INDUSTRIES Financial

Amazon teams up with Barclays to enable customers to pay in instalments in the UK

by Marie Weil
December 18, 2021
A A
Share on LinkedinShare on Twitter
  • UK customers can now apply for a reusable credit account from Barclays, which lets them spread the cost of eligible purchases on amazon.co.uk in equal monthly instalments
  • Customers can pay for future additional purchases through instalments without needing to reapply, as long as they stay within their spending limits
  • Monthly instalment payments are automated, giving shoppers a simple and convenient way to pay on time 

From today, Amazon customers in the UK will have access to a new, flexible payment method – Instalments by Barclays, helping them to finance purchases of £100 or more on amazon.co.uk. The reusable credit account can be used on millions of products, including those from thousands of small and medium businesses selling on Amazon. With Instalments by Barclays, customers will have greater flexibility to pay for their purchases, with financing options available on terms between 3 – 48 months.

First time users will select their choice of instalment plan from available term options at Amazon 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. All lending is fully regulated by the FCA**, and Barclays carries out robust credit and affordability checks to ensure that the customer is not given access to more credit than they can comfortably afford.

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.

Payments are automated via Direct Debit, giving customers a simple and convenient way to pay off their purchases on time, and the account can be managed directly through the Barclays App, even if the customer doesn’t bank with Barclays.

Barclays offers this credit account at an APR of 10.9% for online purchases on Amazon, although promotional rates and interest-free financing may be available at times. There are no account management fees, late fees, statement fees, or other hidden fees.

Customers need to meet certain eligibility requirements to apply for an instalment account – for example, they need to be over 18 years of age and have been a UK resident for at least three years; see website for further details. Instalments by Barclays is not available for orders containing Amazon Gift Cards, digital products, groceries, pre-sale products and out-of-stock products. The minimum spend for each order is £100.

Rob Levy, Head of Instalment Lending, Amazon UK, commented: “Every day we strive to innovate on behalf of our UK customers. Instalments is one way we will offer customers flexible options, enabling them to choose to pay now or split the cost of larger purchases into budget-friendly monthly instalments. This is a simple and transparent service from Barclays that automates monthly payments, providing greater comfort for customers making bigger purchases.”

Ruchir Rodrigues, Head of Barclays Cubed & Consumer Bank Europe, said: “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.”

Related Industries

Financial

UniCredit and Mastercard Expand Payments Partnership

May 27, 2023
Financial

Working with the European Central Bank on its digital euro prototyping exercise

May 27, 2023
Financial

Barclays invests in brand new working capital technology for corporate clients

May 26, 2023
Financial

Barclays announces new leadership for Global Equities

May 24, 2023
Financial

CVC wins two awards at the GlobalCapital European Securitization Awards 2023

May 17, 2023
Financial

Barclays appoints Foruhar Madjlessi as Co-Head of Equity Capital Markets for EMEA

May 12, 2023

Amazon’s Climate Pledge Friendly programme recognised by the European Commission

May 24, 2023

...

MAN to supply eTrucks to Duvenbeck for Volkswagen Group Logistics from 2024 onwards

May 12, 2023

...

Boehringer Ingelheim and German Chancellor Olaf Scholz lay the foundation stone for 285 million EUR innovation center

May 3, 2023

...

Volvo Cars partners up with the technology investor and innovation platform driver Plug and Play

May 4, 2023

...

ABB completes acquisition of Siemens low voltage NEMA motor business

May 4, 2023

...

Amazon ranks within the top 100 largest corporate taxpayers in France

May 12, 2023

...

Barclays appoints Foruhar Madjlessi as Co-Head of Equity Capital Markets for EMEA

May 12, 2023

...

RWE’s 300 MW Biblis Grid Stability Power Plant Powered by GE’s Aeroderivative Technology Improves Reliability of German Electricity Supply

May 10, 2023

...

Philippe Errera appointed EVP International & Public Affairs at Safran

May 4, 2023

...

Cargill inks agreement with CIECH, adding food-grade salt to its European portfolio

May 5, 2023

...

Asia Pacific Business Asia Pacific Business Asia Pacific Business

EUROPEAN BUSINESS is a premier source of corporate news, business information and insights across broad spectrum of industries in Europe and worldwide.  We are one of the members of the Business World Network.

RESOURCES

  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

CONTACT US

EDITORIAL:     editor # european-biz.com

PARTNERSHIP:     partnership # european-biz.com

HUMAN RESOURCE:     hr # european-biz.com

* (replace # with @)

  • Official Site

Copyright © EUROPEAN-BIZ.COM All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © EUROPEAN-BIZ.COM All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist