Revolut has launched its Pay Later product, which offers customers the chance to pay for payments in instalments.
In Brief:
Following a rollout across 1,000 customers, the solution is now available to all 1.9mn adults who use Revolut in Ireland(that’s around half the population).
Revolut says its Pay Later product is designed to focus on “responsible credit and affordability”.
Customers can use Pay Later for purchases up to €499 with a 1.65% fee charged as part of the final instalments.
What does this mean?
Revolut says that currently the solution has been used mostly at clothing, sports and electronics stores. It's calling Pay Later “responsible” and says it’s the only pay later product in Ireland right now that uses an approved credit limit to focus on affordability. Use as part of a Revolut account means the finance can be used at any merchant the customer chooses.
