Amazon partners with Barclays on payment installations

Amazon has partnered with Barclays in order to allow its customers to pay in instalments in the UK.

Amazon customers in the UK will be able to apply for reusable credit at Barclays that lets them spread the cost of their Amazon purchases into monthly instalments. The purchases must be over 100 pounds. The monthly instalments will also be automatic, which lets customers pay on time.

Called Instalments by Barclays, the option is available on millions of Amazon products, and can also be used with smaller or medium businesses on Amazon. The financing options run from between 3-48 months, with Barclays approving each customer before giving them their credit.

Once approved, customers will then have their credit added to their wallet, which can then be used during checkout. As long as they remain within their overall credit limit, they can then make repeat purchases without needing to reapply to the instalment program.

“Every day we strive to innovate on behalf of our UK customers. Instalments is one way we will offer customers flexible options, enabling them to pay now or split the cost of larger purchases into budget-friendly monthly instalments. This is a simple and transparent service from Barclays that automates monthly payments, providing greater comfort for customers making bigger purchases,” said Rob Levy, head of instalment lending at Amazon.

The customer’s account can be managed through the Barclays’ app, even if they don’t bank with them. The payments are automated through direct debit.

This is the second country where Amazon and Barclays have set up an instalment program. Last year, a similar offer was made for purchases in Germany.

“This is another major step in our ambition to reinvent payments at the point-of-sale and delight customers. Amazon offers a world-class shopping experience, and this new service gives users a fully reusable payment-by-instalment option, which they can use to spread the cost of purchases over a longer period,” said Rauchir Rodrigues, head of Barclays cubed and consumer bank Europe.