New BNPL offering a ‘category killer’

Thanks to Mastercard partnership.

Financial solution provider flexigroup has launched an extension to its Buy Now Pay Later (BNPL) offering with bundll that represents a completely new category in the sector.

In a strategic partnership with Mastercard, bundll will allow customers to buy anywhere and defer their payments, said to expand the reach of interest free purchases, particularly into everyday spend categories normally reserved for debit card spend.

It is the only BNPL product in the market that can facilitate multiple payments up to $1,000 at any retailer that accepts Mastercard transactions.

“We believe we’ve created a category killer in this new product,” flexigroup CEO, Rebecca James said. “By partnering with Mastercard we’ve created a product that will, for the first time, allow consumers to buy everything, everywhere, and pay later – interest free. bundll is expanding flexigroup’s addressable market by targeting the millennial shoppers who want control over how they pay and when, with the ability to use it everywhere.”

Flexigroup was able to take advantage of Mastercard’s Launchpad sprint co-creation process, ensuring speed to market as well as innovative design, Mastercard division president, Rich Wormald said. “We see bundll as a truly unique product that will change how people buy, budget and repay with global potential.”

Users download the bundll app directly to their phone and can then use it for any purchases through ApplePay, Google Pay and other electronic wallets.

A strategic partnership will see bundll co-branded and offered to over 200,000 financial services platform Raiz customers as a means of creating instant liquidity in their Raiz accounts, funding purchase on bundll via Raiz. Loyalty offers will be available to customers via the bundll marketplace on the app with founding brand partners to be announced later.  Bundll is currently in beta and will be launched in October/November.

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