- American Express introduces “Plan It,” a new Buy Now Pay Later-like product for UK cardholders, allowing them to settle goods on their statement or a fraction of their monthly bill.
- With “Plan It,” American Express cardholders in the UK can choose a transaction to enter into an instalment plan lasting three, six, or 12 months.
- American Express cardholders can set up “Plan It” either through the app or their online account.
The international financial services provider and bank holding firm American Express has introduced “Plan It,” a new Buy Now Pay Later product for the UK market that allows credit cardholders to pay off goods on their statement or a portion of their monthly bill.
New ‘Plan It’ by American Express
With Plan It, cardholders with American Express credit cards can choose a transaction to be placed into an instalment plan for a period of three, six, or 12 months.
The monthly cost of the instalment plan will be charged to users and will be clearly stated when the plan is set up. Cardholders will continue to earn points for utilizing the service on any purchase made within their plan.
Cardholders can set up instalment plans either through the American Express app or on their online account.
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American Express VP details the new feature
Vice president of American Express Ricky Bonham outlined how the new service may benefit cardholders in the UK: “We know our cardmembers value flexibility including in how they pay. With Plan It, our credit card customers can now pay at their own pace, continuing to earn rewards as they do so on everything from a new vacuum cleaner to their next big holiday.”
