Barclays: Amazon partners with Barclays to allow customers to pay in installments in UK

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  • UK customers can now apply for a reusable credit account with Barclays, allowing them to split the cost of qualifying purchases on amazon.co.uk into equal monthly installments

  • Customers can pay for future additional purchases in installments without having to reapply, as long as they stay within their spending limits

  • Monthly installments are automated, giving buyers 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 – Payouts by Barclays, which will help them fund purchases of £ 100 or more at amazon.co.uk . The reusable credit account can be used on millions of products, including those of thousands of small and medium businesses selling on Amazon. With Payments by Barclays, customers will have greater flexibility in paying for their purchases, with financing options available for terms ranging from 3 to 48 months.

New users will select their choice of installment plan from the duration options available at Amazon checkout, complete an online application, and in most cases * will receive an immediate response from Barclays letting them know if they have. been approved and getting ready to meet their spending limits. All loans are fully FCA regulated **, and Barclays conducts rigorous credit and affordability checks to ensure a customer does not have 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 when shopping on Amazon, allowing them to make repeat purchases without having to reapply, as long as they stay in. their aggregate credit limit and their monthly payment limit.

Payments are automated through direct debit, giving customers a simple and convenient way to pay for their purchases on time, and the account can be managed directly through the Barclays app, even if the customer does not 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 sometimes be available. There are no account management fees, late fees, statement fees or other hidden charges.

Customers must meet certain eligibility requirements to apply for an installment account – for example, they must be over the age of 18 and have been resident in the UK for at least three years; see websitefor more details. Payments by Barclays are 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 Installment Loans, Amazon UK, commented: “Every day we strive to innovate on behalf of our UK customers. Installment payments are one way to give customers flexible options, allowing them to choose to pay now or split the cost of larger purchases into Affordable monthly payments. This is a simple and transparent service from Barclays that automates monthly payments, providing greater convenience to customers making larger purchases. “

Ruchir Rodrigues, Director of Barclays Cubed & Consumer Bank Europe, said: “This is a major new step in our ambition to reinvent point-of-sale payments and delight customers. Amazon offers a world-class shopping experience, and this new service gives users a fully reusable installment payment option, which they can use to spread the cost of purchases over a longer period. “

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Notes to Editors

The UK is the second country where Barclays and Amazon are working together to offer reusable credit accounts. Last year, Barclays and Amazon announced the launch of a similar offer for purchases made on Amazon.de in Germany. Learn more about this launch here.

* A customer may not receive an immediate response if there is not enough credit data to allow Barclays to determine the amount of credit they can comfortably afford.

** Loans available through Barclays Installments are provided by Barclays Partner Finance, a trading name of Clydesdale Financial Services Limited and a member of the Barclays group of companies. Clydesdale Financial Services Limited is authorized and regulated by the Financial Conduct Authority (Financial Services Register Number: 311753). Registered in England. Registration number: 2901725. Headquarters: 1 Churchill Place, London E14 5HP. For more information on Barclays Partner Finance, please visit barclayspartnerfinance.com

With payments by Barclays, Amazon is the credit broker and Barclays Partner Finance is the lender.

Approval of a client’s application is dependent on their financial situation and borrowing history, as are any terms that may be offered to them.

About Amazon

Amazon is guided by four principles: customer obsession rather than focus on competitors, passion for invention, commitment to operational excellence, and long-term thinking. Customer Reviews, One-Click Purchases, Personalized Recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire Tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services launched by Amazon. For more information visitwww.amazon.com/about and follow @AmazonNews.

About Barclays and Barclays Cubed

Barclays payouts were provided by Barclays Cubed, a next-generation commerce platform that uses sophisticated digital and data technology to enable secure, frictionless and transparent interactions among the bank’s millions of customers engaged in the digital technology and thousands of SMEs and corporate clients. Barclays Cubed is a key part of the bank’s £ 900million payments growth opportunity announced earlier this year during Barclays first quarter 2021 results.

Barclays is a British universal bank. We are diversified by activity, by different types of clients and clients and by geography. Our business includes global consumer banking and payments, as well as a leading, full-service global merchant and investment bank, all supported by our service company which provides services technological, operational and functional to the entire Group. For more information visit home.barclays


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