Revolut has a "buy now, pay later" product in development
Revolut, a UK-based fintech superstar, revealed that a "Klarna-like" product is currently in active development right now. An addition of a "buy now, pay later" product would provide the neobank with a much needed boost in customer retention, which could result in a potent twist of the company's P&L.
“Instead of paying upfront everything, you pay a third and then in two weeks time we charge you a third and then another third,” said Nikolai Storonsky, Revolut's chief executive. Previously the fintech became Britain's most valued private tech company in the UK after raising $800M at a $33B valuation.
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