- Danielle Wightman-Stone |
Arcadia has become one of the first fashion retailers to offer Klarna’s new ‘Slice it in 3’ payment product, which means that shoppers can now pay for their fashion in three equal instalments, interest and fee-free.
Klarna’s ‘Slice it in 3’ has been rolled out across all of Arcadia’s brands including Topshop, Topman, Miss Selfridge, Wallis and Burton, and will allow shoppers to pay for their clothing and accessories in three equal instalments.
The first part of the payment is taken via debit or credit card at the point of purchase, with two subsequent payments being deducted from the shopper’s chosen payment card automatically 30 and 60 days after that. As with Klarna’s Pay later option, it doesn’t require a credit application and there is no interest, no fees and no late payment charges involved.
While the payment plan allows for the shopper to spread the cost, the merchant gets paid immediately by Klarna.
Richard Burchill, group head of treasury at Arcadia Group, said in a press release: “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: “Slice it in 3 is versatile and flexible for both retailers and shoppers; it’s a must have. 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.”
Image: courtesy of Klarna
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