With competition heating up in the customer credit arena, Afterpay Touch Group is launching its Clearpay service in the UK. The digital payments provider allows consumers to pay in instalments using their debit cards on an interest-free basis. The service has been used by more than 30,000 merchants in the US, Australia and New Zealand.
The business has recruited ex-PayPal director Carl Scheible to lead its UK operations which already has retailers including Boohoo, Urban Outfitters and Anthropologie signed up for the service.
Scheible commented: “The Clearpay platform is unlike anything on offer in the UK, offering people greater flexibility to budget and pay for goods and services. By trusting consumers to repay free of charge, it turns accepted wisdom in financial services on its head.”
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