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HSBC rolls out installment offering as UK BNPL competition heats up

The news: HSBC rolled out a point-of-sale (POS) installment offering called Flexipay in the UK, per Finextra. The loans offer a fixed interest rate and monthly payments over a range of repayment periods.

  • The offering launched with energy company Ovo. More merchants plan to offer it in 2025.
  • Customers will be able to manage their plans and make payments through the HSBC UK banking app.

Why it matters: BNPL competition is heating up in the UK.

Our take: HSBC’s entry into the UK BNPL market won’t be without difficulty.

  • It faces steep competition from more established players like Zilch and Block-owned Clearpay as well as newer entrants like Affirm.
  • It’s also entering the market during a period of slowing user growth as the BNPL boom fades.

HSBC will need some big-name merchant partnerships in 2025 to catch up to BNPL incumbents and make inroads in the market.

This article is part of EMARKETER’s client-only subscription Briefings—daily newsletters authored by industry analysts who are experts in marketing, advertising, media, and tech trends. To help you finish 2024 strong, and start 2025 off on the right foot, articles like this one—delivering the latest news and insights—are completely free through January 31, 2025. If you want to learn how to get insights like these delivered to your inbox every day, and get access to our data-driven forecasts, reports, and industry benchmarks, schedule a demo with our sales team.

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