Arcadia goes live with new payments tech
Tuesday November 13 2018
Arcadia Group has become one of the first fashion retailers to go live with a new payments software
The group is now using Klarna’s new ‘Slice it in 3’ product, enabling shoppers to pay in instalments, interest and fee-free.
Klarna’s Slice it in 3 allows shoppers to pay for their boots, bags and bomber jackets 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.
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 ever.
This gives customers the financial control and flexibility they want, without committing to a long-term relationship and with no extra fees.
With over 2,000 outlets across the UK including some of the high street’s best-loved fashion brands, the partnership brings Klarna’s latest payment solution to a broad market.
Slice it in 3 will replace Klarna’s Slice it option across all Arcadia brands, and will complement Klarna’s Pay later option which will remain available for smaller basket values.
Richard Burchill, group head of treasury at Arcadia Group, said: “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.”