PollenPay has launched into the Buy Now, Pay Later (BNPL) market, joining the likes of Klarna, Zilch and Mastercard as it offers consumers an affordable way to spread their payments.
Led by founder and chief executive, Leon Wilson, the start-up aims to ease pressure on purchases, while addressing the difficulties seen across much of the BNPL market.
The new fintech company aims to help shoppers remain financially responsible by ensuring they have greater management of their cashflow. It says it will enact stringent measures to properly safeguard its users.
The rise of BNPL companies has been one of the biggest fintech trends of recent times, but financial charities have warned against BNPL, comparing it to ‘slipping into quicksand’. The Treasury recently launched a consultation into bringing the sector under regulation.
PollenPay offers customers interest-free instalment plans and is free to customers who pay on time, with no interest charges or hidden fees.
“Customers shouldn’t fear the thought of making payments and retailers shouldn’t worry about receiving money in a timely manner,” said founder and ceo, Leon Wilson.
“Our platform is helping to give individuals and businesses greater control over their finances and facilitating BNPL purchases more efficiently than ever before.”