Clearpay Truths is aimed at policy makers and the media to support an evidence-based conversation around BNPL in the UK.
The truth about Clearpay
Get to know Clearpay and how we really work.
Say no to revolving debt
Clearpay gives customers the flexibility to get what they want - without the risk of long-term accumulating debt. Here’s how we do it:
We don’t charge interest
We don’t charge customers annual fees or interest to use Clearpay. We charge a fee to merchants for each transaction; this is the main way we make money.
We cap our late fees
Unlike credit cards, there are no hidden or annual fees. If a customer misses a payment, our late fees are capped at 25% of the order price and will never exceed £24 per order.
We help our customers to spend responsibly
If a customer misses a payment, we pause their account and they won't be able to buy or book anything else with us until their payments are up to date.
Customers may notice their spend limit decrease too; this is because our real-time technology takes into account a range of different factors, including late payments, in deciding spend limits.
Ultimately, all steps we take are to help our customers spend responsibly with Clearpay.
Smart spend limits that move with our customers
Our spend limits start small and increase with a customers on-time payments.
When assessing whether a spend limit increase is appropriate for them, we take into consideration a variety of factors, including their on-time payment history and how long they've been with us.
Clearpay is unregulated credit. Use responsibly. T&Cs & late fees up to £24 per purchase apply
Clearpay is unregulated credit.
Use responsibly. T&Cs & late fees up to £24 per purchase apply
Why 3 million + customers across the UK choose us
Available where Brit's love to shop
Customers use Clearpay at the UK’s favourite brands including, John Lewis, Marks & Spencers, Booking.com, plus thousands more.
A flexible alternative to credit cards
With Clearpay, the average outstanding balance of active customers in the UK is £51, far less than the average household credit card debt of £2,528*.
*Credit & Charge Card balances - Feb 2025 | The Money Charity.
Clearpay internal data 2025.
We make money through brands
Our business model puts customers first. Merchants pay us a fee each time our customers use Clearpay to make a purchase.
We put the customer in control
Our app makes it easy for customers to manage their orders, check their spending limits and view all their payments in one place.
Enjoy what you want today, while paying in 4 instalments, over 6 weeks.
DID YOU KNOW?
We use an approval process for every purchase
Our approval process considers a number of factors, including whether there are sufficient funds in a customers accounts and how much they will have to pay on the purchase.
We send proactive reminders
When an instalment is due, we send our customers an email beforehand so they can make sure that there is enough money in their account. Clearpay will automatically take their payment on the agreed payment date.
We give customers flexibility when they need it
Clearpay allows customers to shop now and pay later, interest-free. Their purchase will be split into 4 payments, payable every 2 weeks. They can also choose to pay early all at once or move eligible payments by up to a week.
Help when people need it
We partner with organisations such as StepChange and PayPlan to help our customers stay out of financial trouble and avoid late fees. Customers can access their free and confidential debt advice services at stepchange.org and payplan.com.
Unclear on anything?
Check out our How Clearpay Works page,or head to our Help Centre.
^Based on the Fairer Finance Autumn 2024 Gold award for Happiest Customers and
Most Trusted in Buy Now Pay later.
Clearpay figures: Clearpay internal data Q4 2024.
Clearpay lends you a fixed amount of credit so you can pay for your purchase over 4 instalments, due every 2 weeks. Ensure you can make repayments on time. You must be 18+ and a permanent UK resident (excl Channel Islands). Clearpay charges a £6 late fee for each late instalment and a further £6 if it’s still unpaid 7 days later. Late fees are capped at £6 for orders under £24 and the lower of £24 or 25% of the order value for orders over £24. Missed payments may affect your ability to use Clearpay in the future and your details may be passed onto a debt collection agency working on Clearpay's behalf. Clearpay is credit that is not regulated by the Financial Conduct Authority. T&Cs and other eligibility criteria apply at clearpay.co.uk/terms
*Credit & Charge Card balances - Sept 2024 | The Money Charity.
^Based on the Fairer Finance Autumn 2024 Gold award for Happiest Customers and
Most Trusted in Buy Now Pay later.
Clearpay figures: Clearpay
internal data Q4 2024.
Clearpay lends you a fixed amount of credit so you can pay for your purchase over 4 instalments, due every 2 weeks. Ensure you can make repayments on time. You must be 18+ and a permanent UK resident (excl Channel Islands). Clearpay charges a £6 late fee for each late instalment and a further £6 if it’s still unpaid 7 days later. Late fees are capped at £6 for orders under £24 and the lower of £24 or 25% of the order value for orders over £24. Missed payments may affect your ability to use Clearpay in the future and your details may be passed onto a debt collection agency working on Clearpay's behalf. Clearpay is credit that is not regulated by the Financial Conduct Authority. T&Cs and other eligibility criteria apply at clearpay.co.uk/terms
