Manchester-based Buy Now, Pay Later (BNPL) fintech, PollenPay, has announced its UK launch.
The company, which has just released its app on the Apple App Store said it would promote financial responsibility among its users:
“Our solution is helping to give everyday people more flexibility when making payments and offers a more responsible approach to BNPL transactions, which we believe can be used to elevate levels of financial responsibility across the UK,” stated founder and CEO, Leon Wilson.
Wilson co-founded the company with Brian Teo and Steven Hilton, and has already secured investment of £800k and a £20m loan facility.
According to PollenPay, the app will also ensure the 250 retailers signed up to the service, “greater cashflow management.”
It added that it would be employing “stringent” know-your-customer (KYC) checks to make sure that customers don’t build mass debts on the platform, along with setting a spending limit of £250.