Amazon Lets UK Shoppers Pay in Installments With Its 'Pay Monthly' Credit Option

Amazon made a bold move to compete against the UK’s high-street furniture and electrical retailers by introducing a new program for its UK shoppers. Its customers can now opt to take out a loan on Amazon for purchases worth £400 and more.

The US giant, led by founder Jeff Bezos, will offer shoppers the option of paying for their purchase over as many as four years. Customers are charged a rate of 16.9% on the loans, which can be taken out on multiple items as long as the total is £400 or more. Customers would not need to pay a deposit, which ...

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