Buy-Now-Pay-Later (BNPL) is fast spreading its wings across the world. Here are some new developments.

Japan:

Smartpay K.K. today announced the launch of its new “Buy Now Pay Later” (BNPL) service, which combines an all-in-one payment experience and interest free payment solution, designed to solve Japanese consumer payment issues and improve merchant conversion rates.

Smartpay is the first free of charge BNPL payment option for Japanese consumers who have credit cards. There are no sign-up fees, interest fees, settlement fees, or late charges. The payment experience is also Japan’s first cross-merchant, cross-platform, and single-click checkout BNPL service, allowing consumers to checkout in as little as 10 seconds. The BNPL payment solution is simple to understand, structured on 3 equal installments over 8 weeks. (PYMNTS.com)

UK

NewDay, one of the UK’s largest providers of consumer credit, has launched Newpay, an instant access digital credit account designed to help consumers spread the cost of bigger online baskets and purchases.

Offering customers a credit limit of up to £5,000, which can be used across a range of online retailers, it allows for a range of payment plans – from monthly instalments with fixed payments over periods from six to 24 months on purchases over £100 at the customer’s standard rate of interest, monthly instalments with fixed payments from six to 24 months at 0% interest with selected retailers, or revolving credit.

Mexico

Aplazo, the first omnichannel buy now, pay later (BNPL) platform in Mexico, has raised $27 million in a Series A round led by Oak HC/FT, with participation from existing investors Kaszek and Picus Capital. The new funding comes just four months after the company raised a $5.25 million Seed.

Aplazo allows consumers to receive products immediately and pay for their purchases over time in equal installments. In Mexico, consumers previously required a credit card for installment purchases. This was a hurdle for broad adoption, because only 11% of the population has access to credit and approximately 40% of the population has no credit history.

“At Aplazo, we’re combatting unequal access to credit by providing consumers with access to an alternative form of credit that helps them to extend their purchasing power in a financially responsible, low-risk way,” said Angel Peña, Co-Founder and CEO of Aplazo.

USA

Bluetape, which is a payment and financing platform aimed at small businesses in the construction industry, launched its Buy Now Pay Later feature today, a financing tool that enables construction professionals to buy their building materials now and pay back over time. Builders and contractors all around the country can now start using BlueTape to finance their building supplies invoices and improve their cash flow.

BlueTape partners with building material suppliers to offer their customers a wide range of payment options, including risk-free, flexible financing with simple terms. Their customers can access 30, 60, or 90-day financing with a fast online process.

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