Revolut has begun to rollout its new consumer lending product, Pay Later.
In Brief:
The buy now, pay later product enables users to spread purchases across three installments.
It can be used online and instore for amounts up to €459.
The product is currently being made available to some customers in Ireland.
What does this mean?
With “buy now, pay later” lending products now widely expected by consumers as a point-of-sale finance option, many FinTechs have begun releasing their own versions. Revolut will look to expand Pay Later into Poland and Romania after the initial launch in Ireland. It says that the addition of Pay Later is a step on the journey to enabling customers to manage their money all through one app, with its aim still to become a superapp.
