Clearpay, a leading Buy Now, Pay Later (BNPL) provider, has launched a new Spend Cap feature within its mobile app, offering users more control over their spending limits.
The launch of the Spend Cap tool comes as UK consumers increasingly shift away from traditional credit products in favour of flexible, interest-free alternatives, according to FF News.
Clearpay’s latest research found that 20% of UK adults are actively trying to reduce their credit card usage.
At the same time, 44% of consumers expressed a preference for payment options that charge no interest, while 29% are seeking tools that make budgeting simpler.
Clearpay, which is part of the global Afterpay group, provides shoppers with the ability to spread the cost of purchases over four interest-free payments.
The FinTech firm has established itself as a go-to solution for users looking for transparency and flexibility in managing their finances.
The new Spend Cap feature enables customers to set their own maximum spending limit directly within the app.
It can be configured in just two quick steps and takes effect immediately. This tool empowers users to proactively manage their spending, aligning with Clearpay’s mission to promote responsible financial behaviour.
The Spend Cap complements several other in-app tools already offered by Clearpay, including Bundled Payments—which lets users pay early or combine multiple orders—and Payment Rescheduling, which allows customers to delay payments up to three times a year to avoid late fees.
These enhancements reinforce Clearpay’s commitment to delivering a customer-centric experience, particularly at a time when BNPL is poised for increased adoption in the UK market.
Clearpay UK country manager Rich Bayer said, “A significant number of Brits are turning away from traditional borrowing products, citing confusion on how they work and how fees are calculated. At Clearpay, we prioritise transparency and giving our customers control over how they spend. With BNPL regulation on the horizon, we expect more people to be using Buy Now, Pay Later as their preferred payment option.”
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