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Published
Sep 13, 2016
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Arcadia unveils ‘Buy Now Pay Later’ in the UK

Published
Sep 13, 2016

Arcadia Group has partnered with leading payment provider Klarna on an innovative e-commerce retail financing offering that gives online consumers the option to pay for their purchase up to 90 days later.


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“More consumers are shopping on the go than ever before, but in our fast-paced lives shoppers get frustrated by long and complex checkouts and a lack of flexible payment options,” says Luke Griffiths, UK General Manager of Klarna.

Offering consumers more flexibility, the partnership delivers a seamless financing solution for people shopping online and on mobile. Unlike other financing options, Buy Now Pay Later improves the user experience by offering instant access to credit without redirecting customers away from the online store.

This reduces online basked abandonment, which represents an average loss of £37,062 per UK retailer each year.

The new payment scheme will see online shoppers undergo an online credit check in real time when the order is placed. Customers deemed eligible for credit will then be offered the option to pay for their purchase later, interest free for up to three months.

“Being able to Buy Now, Pay Later at the click of a button empowers our customers to shop however and whenever they want. Revolutionising our approach to purchasing and paying will help us boost conversion rates and ensure our customers remain our brands’ biggest fans,” says Richard Burchill of Arcadia.

Klarna’s new partnership with Arcadia Group is part of a wider global launch. The Swedish company’s Buy Now Pay Later service is going live in the US with online retailer shoes.com. 

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