Clearpay adds reward scheme for customers who pay on time

Clearpay, the ‘buy now, pay later’ payments service known as Afterpay outside the UK and Europe, has launched a new loyalty programme that aims to encourage responsible spending by rewarding customers who pay back on time.

Pulse Rewards will benefit customers who pay back on time for purchases of 25 pounds or higher. Offering them exclusive offers at participating retailers including JD Sports, Boohoo, Pandora, The Fragrance Shop, and Gymshark, increased payment flexibility, and the ability to buy gift cards from top participating brands, payable in 4 with Clearpay.

Nick Molnar, co-founder and co-chief executive of Clearpay, said in a statement: “Until today, loyalty programmes across our industry have encouraged excessive spending - leaving no options for those shoppers who want to spend responsibly and avoid expensive fees and extended debt.

“We built Pulse Rewards to fulfil a need and offer a programme in which both consumers and retailers benefit. This approach is fundamental to our mission and values as a company to encourage financial wellness and power an economy where everyone wins.”

The launch of Pulse Rewards in the UK coincides with Clearpay reaching two million active users in the country in two years. The loyalty programme is already available in the US, Australia and New Zealand.