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Credit Builder and Pay Later Services Launched by Paysend to Improve Customers’ Financial Health

Paysend, the UK-based fintech with over 6.5 million customers, has launched two new products to provide customers with more payment options and improve their financial health: Credit Builder and Pay Later.

Credit Builder lets people in the UK with little or no credit history automatically improve their credit score by simply using their Paysend card for their daily spending when linked to their Paysend Credit Builder account in the Paysend app. The major UK credit reference agencies (Experian, Equifax and TransUnion) are updated on all spending and payments from the Credit Builder account, while customers have the confidence that they can never spend or send more than they have in their Credit Builder account.

Further, for customers who do need access to additional funds, Pay Later gives eligible users based on Paysend’s own credit scoring system – £100 to immediately spend on purchases with their Paysend card anywhere Mastercard is accepted, online or offline. Eligible customers can start using Pay Later without an external credit check, which may harm their credit score, and will not be charged interest on whatever they have spent from their Pay Later account. By comparison, UK overdraft interest rates are as much as 40 per cent EAR. Also, unlike many other Pay Later services, like those offered during online checkout, Paysend customers can improve their credit score by making timely repayments to their Pay Later account every two weeks.

Customers can get started with both Credit Builder and Pay Later for free with a 90 day trial of the Grow subscription in the Paysend app. After the trial period, there will be a subscription fee of £2.99 per month.

Ben Chisell, head of product at Paysend, said: “Many of our customers have low or no credit score and limited access to financial products that can help them build a credit footprint and strengthen their financial circumstances. We are addressing this gap and helping our customers to positively contribute to their credit score with transactions made through Paysend’s platform.

“Our customers also may need a financial buffer and we’re providing them with a flexible and controlled way to pay later that combines the convenience of paying directly from the Paysend account with zero interest. With Paysend, customers will be able to access additional funds for any purchase and enhance their credit footprint while also being protected from other credit products that may worsen their financial situation.”


  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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