Railsbank, the leading global Embedded Finance Experiences platform, has launched a new white label Buy Now Pay Later (BNPL) credit solution that enables retailers to offer their own branded, fully-integrated BNPL payment experiences. 

Railsbank’s solution offers retailers the chance to develop their own branded BNPL option that is customisable, cost-effective and delights customers. In the current landscape, existing BNPL solution providers prioritise their own branding and customer engagement. Retailers are therefore forced to trade off between lesser branded, legacy financing solutions with poor UX, or fully third party branded solutions.

The global BNPL market is estimated to be worth $3.5 trillion by 2030.

“Our solution means that the retailer’s customer does not see the BNPL provider’s brand, but the brand from which they are buying. We want to remove distractions and allow retailers to maximise engagement with their customers. We believe this is a unique offering in the UK and one that will be very popular to a number of different retail verticals including fashion, homeware, travel and sports,” said Louisa Murray, COO of Railsbank, UK and Europe. 

Murray explained that: “Customers are increasingly reaping the benefit of checkout financing to help them repay over time. This is supported by digital BNPL providers. But, many of them are building consumer brands in their own right. They’re incentivised to draw customers away to their own platforms, diluting a retailer’s own purchase journeys and brand loyalty. Customers would rather deal directly with their preferred, trusted brands, rather than being routed to a third-party finance provider.”

Railsbank believes its solution is a new way for retailers to offer own-brand, customisable and frictionless payment experiences to their customers. It helps businesses to disintermediate third parties and focus on building long-lasting relationships with their customers.

Railsbank’s solution enables businesses to reclaim this experience by providing their own instalment financing online and in-store. Customers can split payments in up to 36 instalments without distractions or risk posed by a third party. Retailers can declutter checkout flows, unlock new engagement opportunities during the payment and repayment lifecycle, and link rewards accounts. And, they get to hold onto their own customer’s information. 

Murray continued: “Our mission is to enable businesses to offer deeply embedded, and relevant financial experiences. We want to remove the distractions and enable new interactions to help retailers materially improve the metrics that matter; conversion, basket size and lifetime customer value. We are excited to add our credit solution to the breadth of experiences that our platform supports today.”

Railsbank’s BNPL solution will be available in the UK and Germany in 2022.

Railsbank is headquartered in London and has offices in Singapore, the US, Australia, Lithuania, Germany, the Philippines, Vietnam and Sri Lanka.