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Published
Oct 30, 2019
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M&S launches ‘buy now, pay later’ as instalment payments rise

Published
Oct 30, 2019

M&S has launched flexible payments for online orders as more and more retailers introduce ‘buy now, pay later’ options in a bid to capture cautious consumers’ pounds.


Marks & Spencer


The British retailer’s payments partner of choice is Clearpay, which is working with the likes of Boohoo, Urban Outfitters and PrettyLittleThing to offer customers the option to pay for their orders in four instalments, interest-free.

Other clothing companies including Missguided, Mothercare, JD Sports and Asos are using Clearpay rival Klarna to introduce more flexibility to their payments.

Marks & Spencer said the Clearpay option will be available to all UK M&S.com customers from mid-November and can be applied to purchases from £30 across M&S clothing & home products.

Kirsty Ward, Director of M&S Bank and Services said: “We’re committed to providing our customers with seamless, easy and convenient ways to pay, and that’s why we’ve introduced this fully integrated and interest-free option to help spread the cost of shopping on M&S.com. The Clearpay solution complements our existing M&S Credit and Debit Cards offered through M&S Bank.”

Marks & Spencer will be hoping the new payments service will boost sales as it enters the busy Christmas shopping and trading season after a tough year. In the year to 30 March 2019, revenues dropped 3% across the group and 3.6% in the clothing and home business. 

This performance echoes the wider troubles seen on the UK high street in recent years, with retailers facing multiple challenges, including rising costs, Brexit uncertainty and a decline in spending. 

Clearpay, which only launched in the UK a few months ago, has gained more than 200,000 active customers in the first 15 weeks of trading, as spreading the cost of purchases becomes a hit with customers on a tight budget.

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