Extension to offer FCA-regulated flexible finance solutions via Opera’s PC browser
December 15, 2021, London, England and Oslo, Norway – Opera [NASDAQ: OPRA], a leading global web innovator chosen by hundreds of millions of users globally, is collaborating with Butter, one of only two Buy-Now-Pay-Later (BNPL) platforms regulated by the FCA, to make the user experience more seamless for UK based shoppers in the Opera browser. Butter’s Buy-Now-Pay-Later extension will give millions of UK consumers the possibility to spread payments on any e-commerce product purchased using an Opera browser.
The Opera Browser is a browser of choice which focuses on personalization towards each individual’s needs. The Butter BNPL solution will be provided as an extension, which can be easily activated if and when the user would like to enable BNPL functionality for a given online purchase.
One of the reasons for choosing Butter, a leading BNPL provider in the UK, was that it is an FCA regulated Buy-Now-Pay-Later platform that centres its proposition on providing interest-free spread payments with no penalties for late settlement. The cooperation with Butter is part of Opera’s wider e-commerce strategy which focuses on providing users with an improved, seamless, private, and safe shopping experience including additional benefits such as the coupons extension available in the UK and Dify cashback currently available in Spain, Poland, Russia and Ukraine.
The BNPL sector has grown exponentially in a short period of time and is quickly becoming a key method of payment for consumers. It is estimated that more than 17 million UK customers have used a BNPL company to make an online purchase. Research conducted by Butter has also shown that 77% of people opt to spread the cost of purchases, while 80% believe that this ability should be more widely available.
Opera is no stranger to innovation and its industry-leading browsers go far beyond the typical browser experience offered by other providers by offering users a multitude of useful features including a built-in VPN, access to social messengers and others, already attracting millions of users worldwide. The Opera and Butter partnership within the Opera desktop browser will only further this appeal by offering a frictionless way for consumers to transact with ease.
Timothy Davis, Co-Founder and CEO of Butter, comments:
“BNPL is now one of the most popular ways to transact globally and is a space that people from all industries, financial and non-financial, are increasingly excited about. As the UK’s most innovative BNPL platform, we’re thrilled to announce another first, in our pioneering new partnership with Opera – the global multi-platform web browser company.
Our focus has always been to deliver a consumer-driven proposition based on the fundamentals of fair lending, flexibility, and great consumer experience, with a vision for tech-enabled innovation that is shared throughout the Opera business, so our partnership was a no-brainer. This is a huge first for the BNPL industry, and we’re naturally excited to be partnering with a global technology business as large as Opera and introducing Butter to their millions of users.
Our new joint-proposition will make sure that Opera’s large customer base has access to the convenience of BNPL wherever and whenever they shop, directly from within their Opera browser.”
Paul Andrews, Vice President at Opera, comments:
“Millions of people use Opera browsers to shop every day, so it is paramount for us to look at innovative ways to enhance this experience. We have to date launched integrated Dify cashback and coupon solutions, and we see the importance of including BNPL within our ecosystem. Our partnership with Butter is a continuation of our mission to create a frictionless shopping experience for our users. And following our commitment to consumer privacy and security, it makes sense for us to choose Butter, the first regulated BNPL provider which shares our values, as our partner. We are excited to be launching the partnership in the UK and are looking to further expand BNPL integrations for our users across the world.”
Opera is a global web innovator with an engaged and growing base of hundreds of millions of monthly active users who seek a better internet experience. Building on over 25 years of innovation that started with browser products, Opera is now leveraging its brand and highly engaged user base in order to expand its business into new segments. Today, Opera offers users around the world a range of products and services that include PC and mobile browsers, the newsreader Opera News, and apps dedicated to gaming, e-commerce and classifieds. Opera is headquartered in Oslo, Norway and listed on the NASDAQ stock exchange (OPRA).
Butter was founded in 2017 by Timothy Davis, Stefan Hobl and Nik Haukohl. The company achieved full FCA regulated status in 2017 prior to launch, becoming the first BNPL lender to do so in the UK. Butter was also the first BNPL travel agent, enabling travellers to spread the cost of travel arrangements over time, with full payment not due until after the trip. The company has evolved into a fintech platform with over 100,000 customers, offering installments across every consumer vertical and flying the flag against other sector giants. London-based private equity house BCI has provided funding to Butter as part of a deal to support Butter’s growth.