Willow automates four-payment invoice financing

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Buy Now, Pay Later (BNPL) The FinTech Willow platform, which allows customers to pay their bills in four installments, rolled out the company’s proprietary automated solution for non-discretionary spending on Tuesday, August 31.

Willow was unveiled in April and now has over 20,000 customers using the beta of the platform, which allows customers to upload their invoices to be paid by Willow before the deadline, then allows users to reimburse Willow. in four weekly installments plus a $ 4 fee per $ 100 bill payment. Willow does not charge interest and pays utility bills, insurance premiums, and child care expenses.

“It’s no secret that consumer credit in the United States is down, with creditors encouraging consumers to spend beyond their means,” said Willow co-founder and CEO Bay Hudner, in the company announcement. “It has only been exacerbated by the pandemic.”

Willow, said Hudner, “deployed a simple, seamless solution that helps consumers plan ahead, stay up to date on their bills, and improve their credit score. We’re here to make sure no American will ever have late fees again. “

“The overwhelming positive response from consumers has been revealing,” said co-founder and COO Braden Golub in the announcement. “It is clear that Willow is in a good position to ensure that hardworking individuals and families never feel the strain or stress of when bills are due each month.”

Related: BNPL Gains Critical Mass To Take Big Credit

Buy Now, Pay Later offers are gaining momentum around the world in a variety of formats and have gained momentum through Amazon’s partnership with Affirm, which enables BNPL to reach its hundreds of millions of customers more broadly. in the USA.

Walmart and Affirm announced their own omnichannel deal in 2019 that initially gave shoppers the ability to use Affirm to pay for their purchases over time, in person, at 4,000 supercenters nationwide. BNPL functionality is now also available on Walmart.com.

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