“Can a single-vertical (UK automotive) BNPL provider become the embedded finance OS for garages and dealerships by layering card, open banking and SMB lending on top of its consumer credit core?”
Payment Assist started in 2013 as a niche UK BNPL provider focused on the automotive aftersales sector — splitting unexpected car repair bills into interest-free instalments. It is owned by Manx Financial Group (LSE: MFX), whose subsidiary Conister Bank Ltd provides the underlying balance sheet. In 2025 the company expanded beyond consumer BNPL into embedded SMB business lending via a partnership with Groov, and built out the 'Ignition' merchant platform to consolidate BNPL, card and open banking payments into one checkout for 8,000+ garages and dealerships.
Payment Assist discloses Conister Bank Limited as its sponsor bank, according to the Embedded Finance Index 2026.
Payment Assist does not disclose a bank charter of its own; its banking services are provided through Conister Bank Limited.
Payment Assist processes payments through Payment Assist BNPL (self-operated) and Ignition merchant platform (self-operated).
The Embedded Finance Index 2026 maps 3 layers in Payment Assist's stack: Payments / PSP (Payment Assist BNPL (self-operated) and Ignition merchant platform (self-operated)); Lending (Buy Now Pay Later (3/4/6/9 month), Retail Finance (interest-free and interest-bearing longer-term), Business Loans, Merchant Cash Advance and 3 others); Sponsor bank (Conister Bank Limited).
Payment Assist is founded in 2013 and headquartered in Melton Mowbray, Leicestershire, United Kingdom.
Payment Assist has raised $5.0M in total.
Get a read on where your own stack stands against Payment Assist and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.