Virgin Money to enter BNPL race

Virgin Money is preparing to jump on the buy now, pay later bandwagon through the development of a digital wallet in collaboration with Global Payments.

The move to the BNPL opportunity was included in a business statement from Group CEO David Duffy, as Clydesdale and Yorkshire trade unions and Virgin Money look forward to a return to FY21 profits.

Designed to start in mid-2022, the digital wallet offers integrated payroll, as well as BNPL capability and the ability of customers to receive and use Red Virgin data. The suitcase will be available to UK customers, allowing them to take out wages, brides, salaries, and mortgages.

The project is part of a ‘number’ strategy expected to cost £ 175m over the next three years, with 50 percent re-invested in the industry. The cost of restructuring this season will drop to $ 275 million so far – above the analysts’ expectations.

Other maintenance costs include reducing the reduction in branch offices and offices and working longer hours. In September, the bank announced plans to close 31 stores – one-fifth of its communication arm – in response to customer demand.

The key to finding the first way to account is the introduction of these agreements to Virgin Finance to promote Microsoft Cloud-based financial services, drive IT and banking development and build sustainable development quickly building a new business and delivery service.

Duffy said: “Our fast digital approach will bring new light, including a digital wallet, and bring health and improvement. Combining these features will help us become a technology banking banker of participants. “

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