“Iceland has become the first supermarket to roll out a Buy Now, Pay Later (BNPL) scheme with the aim of helping customers with soaring costs. BNPL is an instalment-based payment option provided by companies such as Zilch, Klarna, Clearpay – and now the Deeside-based supermarket.”

“Scarred by the financial crisis and reminded by the pandemic that the world is a precarious place, Iceland’s central bank wants new domestic retail payment tools that would reduce its reliance on global card giants. The Reykjavik-based Sedlabanki wants to add a solution to the interbank system to let banks offer retail payment tools to customers for seamless transactions with shops and service providers, Deputy Governor Gunnar Jakobsson said in an interview. He named Sweden’s mobile payment app Swish as a model.”