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Arcadia launches ‘buy now pay later’

Arcadia has launched a partnership with payments provider Klarna to allow shoppers in the UK to buy goods now and pay for them at a later date.

The partnership will allow customers to buy products online from Arcadia brands including Topshop and Miss Selfridge and defer payment interest free for up to 90 days.

It is hoped the new capability will counteract dropped baskets, boosting retention, loyalty and sales.

“Being able to buy now, pay later at the click of a button empowers our customers to shop however and whenever they want. Revolutionising our approach to purchasing and paying will help us boost conversion rates and ensure our customers remain our brands’ biggest fans,” said Richard Burchill, head of treasury and card services at Arcadia.

The new partnership with Arcadia Group is part of a wider global launch of Klarna’s buy now pay later service, which is going live in the US with footwear etailer shoes.com.

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