What is Clearpay?
Clearpay is the British sibling of the popular Australian payment provider, Afterpay. With Clearpay, shoppers can split the total value of their online shop into 4 smaller, easily payable payments, without being charged interest or any additional fees.
Paying in this way is more generally known as Buy Now, Pay Later (BNPL) finance.
How does Clearpay work?
You can shop with many popular UK retailers online and use Clearpay as an alternative method of payment when checking out, allowing their transaction to split into 4 smaller payments taken every 2 weeks.
Shoppers can simply select Clearpay as their payment option during checkout and, once they’ve created an account and linked their credit or debit card, they will be able to continue with their purchase as normal.
The first quarter of the purchase is taken at the point of purchase, with the other 3 payments taken 2, 4 and 6 weeks later respectively.
To be eligible for a Clearpay account, you must:
- Be over 18
- Have access to a valid, verifiable email address and phone number
- Have a UK bank account
- Have a valid UK address
Is Clearpay free?
Yes. Clearpay does not charge interest for its finance, meaning that what you agree to pay at the point of purchase with the retailer is the exact amount that you will be paying via Clearpay – the transaction is just split over 4 separate interest-free payments.
There are no fees involved when using Clearpay unless a payment is missed.
When you miss a payment with Clearpay, you will be immediately prevented from making any further purchases until the debt is paid. You will be given until 11pm the next day to make the payment.
If this payment is still not made, you will be charged an initial £6 late payment fee. If it is still not paid after 7 days, a further £6 fee will be charged.
Late payment fees will never exceed 25% of the value of your purchase (or £36, whichever is lower).
Who accepts Clearpay and where can I use it?
There are several popular UK retailers that allow their customers to use Clearpay as an alternative method of payment.
These include, but are not limited to:
- Pretty Little Thing
- Urban Outfitters
- JD Sports
- Foot Locker
- Marks & Spencer
For a full list of stores offering payment with Clearpay, visit their website here.
Is there a limit on Clearpay?
Yes. All Clearpay customers are given a credit limit.
This limit is initially set relatively low (remember, Clearpay doesn’t check your credit score, so it has no idea how responsible, or irresponsible, you are with your money) but it can be quickly built up by making payments in full and on time.
If your Clearpay credit limit is not enough to cover the cost of your purchase, you will be charged a larger amount at the point of sale – whatever is available on your limit will still be split and paid over the next 6 weeks.
Can you pay monthly?
No. All Clearpay payments are split over 4 payments, each taken within 2 weeks of one another.
How does Clearpay make money?
Whenever a customer uses Clearpay to make a purchase, the chosen retailer pays a small fee for their service – this is how Clearpay make money. Their business model does not revolve around charging late payment fees and they promise, where possible, to help customers with their finances as much as possible.
Is Clearpay safe?
As part of the Afterpay Touch Group (which is certified by the Payment Card Industry Data Security Standard (PCI DSS), any personal information and card details entered when using Clearpay are completely safe.
Does Clearpay check credit history?
No. Clearpay orders do not require a credit check, meaning it can be used even if you have a negative credit rating. However, if you’re struggling financially, it is not advised that you commit to a bi-weekly spending plan that you might not be able to afford.
As is the case with most other Buy Now, Pay Later (BNPL) schemes, missing a payment with Clearpay can have a detrimental impact on your credit score.
The Clearpay app is available on both iOS and Android devices and allows shoppers to manage their payments and view their payment schedule, as well as browse through the ever-expanding range of online retailers that use Clearpay.
By using the Clearpay app, customers can:
- Browse for retailers – Take a look at the extensive directory of Clearpay shops to see who accepts Clearpay, with new stores added every single week.
- Manage orders – From changing a payment card to viewing past and present orders, the Clearpay app allows customers to efficiently manage their shopping.
- Make early payments – If you don’t want to wait 2 weeks to make the next payment, customers can pay early on the Clearpay app.
Customers reviews are often a great way of finding out whether or not finance providers like Clearpay are trustworthy. We’ve used popular customer reviews hub, Trustpilot, to take a look.
From almost 1,500 reviews on Trustpilot, Clearpay averages a rating of 4.5/5.
95% of customers rated Clearpay as either ‘great’ or ‘excellent’, with just 4% insisting that the service received was ‘poor’ or ‘bad’.
Many customers left comments stating that they were happy with the number of regular reminders received when payments were approaching, while many are quick to announce that they are yet to encounter any issues with the service.
Customer service - contact Clearpay
If you experience a problem whilst using Clearpay, you can do one of the following:
- Send them a message – using the Clearpay app or ‘help page’ on the website
- Speak to an advisor – by calling 0808 164 9707