Asda to offer payment instalments for clothing purchases

Supermarket giant Asda is to offer shoppers an option to pay in instalments for clothing and items purchased on its George.com website. The company is partnering with credit and payments provider JajaPay, and will require customer to apply for approval for a credit facility at the point of sale.

Approved customers will be able to defer payments for 90 days without interest as part of its introduction offer to the service.

Asda is not the only fashion retailer to offer the service. Last week the Arcadia Group announced it would launch Klarna’s newest payments product, 'Slice it in 3’, across all brands. Slice it in 3 allows 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. The merchant, however, gets paid immediately by Klarna.

Matt Collinge, head of ways to pay at ASDA, said in statement: “We reviewed the market to find the best launch partner for this proposition and recognised the Jaja solution to be the best fit for our customers and for us as a business.”

Neil Radley, chief executive at Jaja Finance, said: “We’ve updated the store card for the 21st century, doing away with the plastic, allowing a better relationship between the retailer and their customer.”

Photo credit: Jaja payments, source Jaja Facebook