Barclays pulling back from instant consumer credit, The Times reports

Barclays (BCS) is winding down the bulk of its consumer lending operation, which offers credit to shoppers at the checkouts of a string of high street retailers, The Times’ George Nixon reports. The bank works with companies including Halfords, Homebase, Wickes and Watches of Switzerland to offer instant loans to customers at the point of sale, both in-store and on the internet. Interest-free and interest-bearing options are available, as well as a service launched with Amazon (AMZN) in December 2021 designed to take on upstarts whose "buy now, pay later" offers have wooed millions of younger shoppers, the author notes. Reference Link