PollenPay, a new UK FinTech, is preparing for launch in the buy now, pay later space.
In Brief:
The business has been founded in Manchester.
It will, like other BNPL providers, offer consumers installment payment options with no interest fees.
Customers who don’t pay on time will be charged, but the company says it’s possible to amend payment schedules.
What does this mean?
Entering an increasingly crowded market and placing itself in fast fashion capital Manchester could present challenges for PollenPay to differentiate itself from other providers.
So far, a few things stand out: the business is keen to reflect well on Manchester as a location, it also brings experience of the Australian BNPL market from its founders, and PollenPay has been adamant that it’s customer-centric and will take steps to help customers stop falling into persistent debt.
