Clearpay adds Arcadia brands as shoppers favour BNPL over traditional credit
Buy now, pay later (BNPL) specialist Clearpay has added a number of new brands to its service with Arcadia’s Topshop, Topman, Miss Selfridge, Dorothy Perkins and Wallis signing up.
They’ve joined along with Pandora, Jo Malone, Clinique, Clarins, La Mer, Hunter Boots, Karen Millen, Savage x Fenty, Coast, and Signet’s H Samuel and Ernest Jones.
The list of new brands comes as the company said it commissioned a recent survey showing almost half of UK respondents see avoiding credit products with interest as more important than they did before the pandemic.
BNPL services have been growing in popularity in recent years with such services offering the chance to order online without laying out any money upfront and then to pay in instalments without incurring interest.
Like rival Klarna, the company is signing up brands fast and already has around 1,900 labels on its list.
On average, Clearpay also said its Shop Directory generates 19 million referrals per month to its merchant partners, “helping customer conversion rates increase by more than 20% and average order values increase by more than 25% compared to all other payment methods”.
Also known as Afterpay in other countries, the option is currently available in Australia, Canada, New Zealand, the US and UK.
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