Barclaycard division launches flexible instant credit service for internet retailers

New credit facility for online purchases
Barclays Partner Finance, an arm of Barclaycard, has launched a flexible online finance product called bFex, which allows consumers to take out instant finance for internet purchases.
While consumers have long been able to take out credit at the point of sale when shopping on the high street, they have been more restricted when shopping online. With traditional credit often tied into pre-packaged solutions or terms set by the retailer, bFlex is controlled by the consumer, with instant access at the online point of sale, said Barclays Partner Finance.
bFlex can be fully integrated into a retailer’s existing online ordering system and will allow customers to select a finance option designed around their needs and use it to instantly pay for their goods. Simple to use ‘sliders’ allow them to select either a repayment term or a monthly repayment amount, tailoring the finance entirely to the user’s needs, giving them greater confidence to complete online purchases in real-time.
bFlex complements Barclays Partner Finance’s existing ‘e-finance’ range of online point of sale products for large purchases, which can help businesses trading online to boost sales by speeding up the sales process, extend the range of payment options available to customers and allow them to pay on their terms. Retailers have the option to offer both interest free credit and regular credit financing options to their customers at the point of sale, when they shop online. 
bFlex can be used for purchases between £250 and £1,500 and allows consumers to spread their payments over between three and 18 months and can be either integrated directly by the retailer or they can route customers through the bFlex platform, meaning little technical knowledge is needed.
Specialist musical instrument retailer Sounds Great ( are the first online retailer to use the product:
Ronnie Denholm, managing director of Barclays Partner Finance, said: “Both consumers and retailers want simplicity and flexibility when buying and selling – and online is no different. Barclays Partner Finance and Barclaycard have a wealth of experience in creating innovative payment products and bFlex will allow retailers to offer a truly flexible payment solution at the point of sale, and consumers to spread the cost of their purchases.”