Paydown, the App Designed to Help Borrowers Break Up with Credit Cards, Goes Live

Helping consumers pay down credit cards, auto loans, overdrafts, and other high-interest debt with a lower-cost loan

LONDON – 12 November, 2025 – Clay Technologies (Clay), a platform that helps tech-enabled businesses set up and fund own-label lending programmes, and Pepper Advantage, a global credit management and technology company, announced the launch of Paydown.com – a mobile‑first lending platform that enables borrowers to consolidate their existing credit cards, overdrafts, and other high‑interest debt into a single, lower rate personal loan – helping them save on interest and pay down debt faster.

Paydown offers loans between £1,000 and £25,000 with terms ranging from one to five years. The loan can be used to pay off credit card balances and other high‑interest debts, replacing multiple repayments with a single monthly instalment. Applicants must be UK residents aged 18 or over and can check eligibility through a soft credit search that won’t affect their credit score. The platform uses open‑banking to verify income and spending in minutes, enabling fast affordability checks, approvals, and disbursements. Customers can check eligibility, apply, and manage their loan entirely through the Paydown app.

Paydown follows the recent launch of Kravings, the UK’s first personal loan mobile app, and comes as part of the strategic joint venture between Pepper Advantage and Clay. The two companies developed an AI-driven tech stack that allows financial and non-financial businesses to launch fully compliant credit products, combining Clay’s Brandable Credit APIs and origination technology with PRISM, Pepper Advantage's proprietary credit management platform. All loans offered through Paydown and Kravings will be managed directly by Pepper Advantage.

“Credit cards make it easy to borrow but hard to get out,” said David Yalland, Founder and CEO of Clay Technologies. “Paydown helps people take back control — one simple repayment, no hidden fees, and a clear path to get out of the red and into the black. We want to make it as easy to pay down debt as it is to build it up.”

Fraser Gemmell, Group CEO, Pepper Advantage, added: “After the success of Kravings, we are excited to support another innovative lending solution. Paydown runs on our PRISM platform for loan management and servicing, while Clay powers the full front-end and underwriting to deliver a seamless customer experience. Together, we’re demonstrating how smarter use of technology can help borrowers reduce debt in a more responsible way.”