Barclays will also offer merchants the option of a POS payment under the merchant's own brand, which presents the opportunity for them to deepen connections with their customers.
With increased consumer demand for versatile payment options and booming ecommerce leading to a 200% growth in BNPL, Barclays is well positioned to strengthen its presence at the POS. Barclays' partner-centric approach focuses on providing merchant brands with banking and payment solutions that aim to help drive sales and build loyalty with their consumers.
Barclays' US offering will be powered by Amount's digital financial services platform for POS financing, underpinned by core platform features including fraud prevention, verification, and account management. Barclays is partnering with Amount given the company's proven technology, ease, and speed of integration, and deep knowledge of digital financial services. The platform is expected to go live with merchants later in 2021.
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