HSBC UK Enters Point of Sale Finance Market With Flexipay Offering Consumers Flexible Payment Solution for Large Purchases

Shoppers will soon see a familiar name at the checkout when making large purchases, as HSBC UK enters the Point of Sale finance market with the launch of HSBC Flexipay.

Designed to help consumers spread the cost of a large purchase into manageable payments directly at point of sale, HSBC Flexipay will be available to customers of its merchant partners, regardless of whether they have an existing HSBC relationship.

Application and decisions happen quickly as part of the checkout process, after which customers have full flexibility to manage their finance plan, make over payments and pay off their finance early through the HSBC UK banking app. Their first partnership is with OVO, with their customers the first to benefit from the new flexible finance product when purchasing solar panels for their home. The bank is working to introduce more merchants across various different sectors throughout 2025.

Andy Rankin, Interim Head of Unsecured Lending at HSBC UK, said: “Paying in instalments is increasingly popular and can be a great budgeting tool, providing the certainty of fixed repayments and a set end date. We are excited to start our journey in Point of Sale finance, offering customers a payment alternative which is fully regulated. For consumers looking to make a large purchase, HSBC Flexipay will enable them to do so with support from a responsible lender they can trust.

“The next five to ten years will see a significant acceleration in investment that supports net zero, including people who want to make their home more energy efficient. That is why we are pleased to partner with OVO, offering their customers who are buying solar panels first access to HSBC FlexiPay.

“Moving into next year we will look to expand HSBC Flexipay further, providing those buying a wide range of products the opportunity to benefit from its flexibility”

Mark Robson, VP Commercial, at OVO said: “Our customers tell us the biggest barrier to making their home more energy efficient is the upfront cost. We’re on a mission to change that.

“I’m excited to provide our customers with first access to HSBC’s flexible payment product – making home decarbonisation a reality for millions more households.

“By helping to make green technology more accessible, we will reduce energy costs in the longer term – and for good – while also helping to cut carbon.”

For more information visit www.hsbc.co.uk/loans/flexipay