Arcadia Group retailers are now offering customers new options when it comes to payment.
The group behind brands including Topshop, Topman, Miss Selfridge, Wallis and Burton is offering the option of instalments, through Klarna’s new Slice it in 3 approach to payments, when customers shop online.
Customers opting for the Klarna option when they buy their goods pay the first instalment via debit or credit card when they buy. Two subsequent payments are deducted from their chosen payment card 30 and 60 days later. The merchant, meanwhile, gets paid immediately.
This approach, says Klarna, builds on its Pay Later option in that there’s no need for shoppers to apply for credit, and there is no risk to the customer of interest, fees or late payment charges. Shoppers, it says, will instead enjoy a smoother path to purchase and more options at the till.
It’s the latest development in a partnership between Klarna and Arcadia Group first struck in 2016.
Richard Burchill, group head of treasury at Arcadia Group, said: “We’re constantly on the lookout for new and innovative ways to make life easier for our customers and improve the way they shop. Klarna’s Slice it in 3 will deliver just that; a simple way to split payments without a formal credit agreement. Having worked with Klarna since 2016, we know our customers love the flexibility that comes with alternative payments, and now our designer collaborations, vintage items and limited editions will be even more accessible. We’re proud to be the first fashion retailer to offer this service, and bringing it to all our brands will give all our customers the chance to use it.”
Luke Griffiths, general manager at Klarna UK, added: “Our relationship with Arcadia is built on years of mutual understanding, as well as a shared desire to redesign the shopping experience. That’s why Arcadia is the perfect partner for our latest product. They continue to stay on the front row when it comes to fashion and innovation by giving their customers the best possible experience. With Arcadia pioneering Slice it in 3 we can’t wait to see what their customers think of our new way to pay.”