Wonga offers new buy now pay later service
Pay day loan company expanding its business.
One of the biggest UK pay day loan lenders Wonga, has now teamed up with a retailer to offer a buy now pay later promotion. Wonga is famous for 15 minute pay day loans and business pay day loans have now teamed up with a furniture retailer in the Cotswolds to start rolling out the service.
Instead of customers paying with their credit or debit cards, customers can now choose to go for the buy now pay later option which includes spreading the purchase amount of a three month period.
A spokeswoman for Cotswold said: "After trialling several finance options in the past we have decided to trial PayLater. Their service is totally transparent, and totally optional. As itís a three-month finance option it is a cost effective alternative to using a credit card, which is especially useful at this time of year. Customer uptake so far has been slow, however the trial is still in its infancy.
Wonga is also in talks with the other major retailers about using their new pay later facility.
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