Frasers Group is set to launch new BNPL this year #

Frasers Group, a UK retail, sport and intellectual property group, will be launching new financial services. They plan to enable customers to borrow up to £2,000 and buy goods on credit.

Under the new credit product Frasers Plus, customers will be able to defer and split payments or take a loan through the Frasers Group’s application. The BPNL will most likely engage more retailers like Sports Direct, House of Fraser, Jack Wills, and more.

Todd Latham, CEO of retail finance platform Divido, claims that the new announcement is a reflection of the shift in purchasing habits of customers. He believes that as more customers rely on checkout finance, a retail finance solution is a plausible step to “convert more clicks to purchases”.

The solution is coming soon, promising customers rewards for shopping with the Frasers Group new financial products. Loans will be facilitated via Studio Retail, and the technology is created by Tymid, a fintech startup.