Newpay, a digital credit account that spreads the cost of online purchases, has partnered with THG to offer its customers a flexible and regulated way to pay at checkout. Newpay has been fully integrated into the checkout experience, offering seamless access to credit for customers. The option is now available across several of THG’s brands, including the world’s largest pure play online beauty retailer, Lookfantastic, and the world’s largest direct-to-consumer sports nutrition brand, Myprotein.
With ‘Buy Now, Pay Later’ options increasingly popular amongst consumers, Newpay gives customers the ability to break down online purchases over six months, while undertaking affordability checks to ensure customers are only offered credit they can afford to pay back. Newpay is provided by NewDay, one of the biggest UK providers of consumer credit with over 20 years of underwriting experience, and is fully regulated by the Financial Conduct Authority (FCA).
A spokesperson from THG said: “We want our customers to have the best shopping experience and flexibility at every stage of their purchasing journey. Newpay supports this by offering a comprehensive range of payment options and seamless integration into our checkout experience.”
Once a customer has successfully applied for a Newpay account, they can choose to pay through Newpay at checkout. Customers are presented with a range of fixed monthly instalments and simply pick which of these payment plans they want when making their purchase. Thanks to Newpay’s account functionality, customers only need to apply once and can pay through Newpay wherever a retailer offers it at checkout. Multiple payment plans are consolidated into a single monthly payment to make it simple and easy for the customer. Newpay can also help customers build their credit score over time, provided that they remain within their credit limit and make their payments on time.
Lisa Gervis, director of merchant offering at NewDay, which provides the Newpay product, commented: “Newpay is an offering that benefits the retailer as well as their customers. For customers, it offers regulated and flexible credit through a single account, allowing them to see all Newpay purchases in one place, either online via the Newpay website or in the Newpay App. We look forward to expanding our relationship with THG and its customers.”
The integration with THG and Newpay systems was facilitated through Deko, whose in-house expertise ensured flawless end-to-end merchant experiences for the nine partnered brands. Deko will continue to work alongside these merchants to support commercial growth and scalability, whilst also providing excellent round-the-clock customer assistance.
