Clearpay, a leader in Buy Now, Pay Later (BNPL), has expanded its merchant portfolio with some of the UK’s most well-known brands including Superdrug, Roman Originals, Justmylook and Sportshoes.com. In addition, Clearpay has expanded its reach in the experiences sector as it becomes the preferred BNPL payment partner for Merlin Entertainments in the UK, North America and Australia These retailers can now offer even greater payment flexibility to their customers by allowing them to use Clearpay to spread the cost of their purchases across four interest-free instalments paid in six weeks.
Laurence Stock, VP Go To Market UK & Global Gateway at Merlin Entertainments, said: “At Merlin, we’re passionate about delivering exceptional guest experiences and this starts from the moment they start to book with us. Partnering with Clearpay gives us the opportunity to offer our customers payment flexibility, and making sure nothing gets in the way of a great day out.”
Dan Cartner, head of marketing at Sportshoes.com, said: “SportsShoes.com is dedicated to making premium running and fitness kits accessible to everyone. Partnering with Clearpay is a natural extension of that; giving our customers another way to get the kit they need to keep moving, without having to compromise.”
Rich Bayer, CEO at Clearpay, added: “BNPL has become an everyday mainstream payment method for millions of shoppers. From shoes, to beauty and entertainment, our new merchant partnerships demonstrate that our customers want to use Clearpay for purchases across all areas of their life.
“Our merchant partners see real benefits of offering Clearpay, from attracting new customers to increasing conversion, especially as shoppers seek ways to spend responsibly.”
On 15th July, BNPL came under regulation by the Financial Conduct Authority. This means users are offered more protections, including access to Section 75 and the Financial Ombudsman Service. Clearpay research found that almost half (48%) of UK adults say regulation will make them more confident when using BNPL in the future.1
Among those who use BNPL, more than half (53%) say they do so to spread the cost of purchases, while 35% say it helps them manage their budget. A quarter (25%) say they use BNPL because it is cheaper than a credit card or loan.
