SANTANDER will roll out a new buy now pay later (BNPL) platform across Europe as it looks to boost revenues and fight off fintech competition.

Zinia, the new BNPL service, will offer shoppers the opportunity to pay in interest-free instalments either online or at physical points of sale.

The launch of the service in the Netherlands later this year will be the first step in a wider European expansion, Santander said.

Ezequiel Szafir, CEO of Openbank and Santander Consumer Finance, said the platform offered a "convenient and flexible payment option" with the "trust provided by a large financial group like Santander."

(c) 2022 City A.M., source Newspaper