Virgin Money joins the market for ‘buy now, pay later’
The British bank said that Virgin Money will enter the fast-growing “buy now, pay later” market, joining other mainstream lenders pushing into the lucrative but sometimes controversial business.
Virgin will offer a credit card that allows customers to spread repayments over a number of months, it said, with instalment fees added if they repay in nine months or longer.
‘Buy now pay later‘ products have soared in popularity in recent years with customers buying anything from clothes to electronic gadgets, but have attracted criticism from lawmakers and watchdogs over the sometimes high rates of interest charged.
FacebookTwitterLinkedin
The British bank said that Virgin Money will enter the fast-growing “buy now, pay later” market, joining other mainstream lenders pushing into the lucrative but sometimes controversial business.
Virgin will offer a credit card that allows customers to spread repayments over a number of months, it said, with instalment fees added if they repay in nine months or longer.
‘Buy now pay later‘ products have soared in popularity in recent years with customers buying anything from clothes to electronic gadgets, but have attracted criticism from lawmakers and watchdogs over the sometimes high rates of interest charged.
FacebookTwitterLinkedin
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.