Clearpay launches pulse loyalty programme for customers who pay on time

By Joy Dumasia

Clearpay, the Buy Now Pay Later (BNPL) provider, is launching a rewards programme for customers who pay back on time. The Pulse Rewards programme aims to acknowledge customers who adopt a responsible approach to spending with benefits for on-time payments.

Clearpay, known outside of the UK and Europe as Afterpay, says the programme considers changes in British residents’ spending habits during the pandemic, as they increased their use of debit cards, built up savings, and cleared debts and relied less on credit cards.

The programme includes several benefits to customers who pay back on time on purchases of over £25, including exclusive offers at participating retailers including JD Sports, Boohoo, Pandora, The Fragrance Shop, Gymshark.

A total of 96% of transactions by Clearpay’s UK customers never incur a late fee, the company claimed. Under the terms of the rewards programme, eligible UK customers will receive an email inviting them to join the Pulse Rewards programme, available only in the Clearpay app.

Nick Molnar, co-founder and Co-CEO of Clearpay, said: “Until today, loyalty programmes across our industry have encouraged excessive spending – leaving no options for those shoppers who want to spend responsibly and avoid expensive fees and extended debt. We built Pulse Rewards to fulfil a need and offer a programme in which both consumers and retailers benefit. This approach is fundamental to our mission and values as a company to encourage financial wellness and power an economy where everyone wins.”

Recently, IBS Intelligence reported that Afterpay, a Buy Now Pay Later platform, announced its European service Clearpay to merchants across Spain, France and Italy. The company stated that by offering Clearpay in Europe, the company could support existing global retail partners who would like to offer its customers across Europe.