The initiative is “buy now pay later” and allows customers of Arcadia’s fashion brands, Topshop and Miss Selfridge, to purchase products online and pay for them over time. This initiative is stress free when it comes to filling out lengthy forms associated with a traditional credit application process, according to Klarna.
The payments vendor explains that Klarna intends to separate buying from paying and pre-authorises customers in real-time when the order is placed. Thus, customers deemed eligible for credit will then be able to buy products but opt to pay for them later, interest free for up to 90 days. Therefore, users can have instant access to credit without being redirected away from the online store, enabling the retailers to maintain their own look-and-feel throughout the checkout process.
The strategic partnership with Arcadia marks Klarna’s wider international launch of the “buy now pay later” option. In the US, this offering is going live with shoes.com.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now