Manx Financial Group PLC (LON:MFX), providing diversified financial services to the Isle of Man and the United Kingdom, has announced that its wholly owned subsidiary, Payment Assist Limited, has signed contracts with Norwegian automotive payment technology business Spense, under which Payment Assist’s Buy Now, Pay Later products will be integrated into the Spense platform.
Spense integrates its payment software across franchised dealer groups and vehicle manufacturers including JLR, Audi, Porsche, Cupra and Skoda, and will launch in the UK in 2027. It currently operates in Norway, Denmark, Sweden, Belgium, the Netherlands and Lithuania, and partners with numerous dealer management system providers including Incadea and Keyloop, which also serves Germany, Luxembourg and France. The arrangement embeds Payment Assist at the point of payment and gives it a another potential route into Europe through Spense’s existing footprint, in line with Payment Assist’s strategy.
Commenting on the partnership, Douglas Grant, Group CEO of Manx Financial Group PLC, stated: “This agreement is strategic for the Group on two fronts. Spense has chosen Payment Assist as the BNPL provider within its platform, placing our products at the point of payment in franchised dealerships across the UK. It also gives Payment Assist another potential route into Europe through a partner already working with leading manufacturers and dealer networks across the continent. It is a disciplined way to grow our existing business lines and to build long-term value for shareholders.”
