Arcadia Group has just launched a new credit scheme across its online channels.
This means the fashion brands owned by retail tycoon Sir Phillip Green will now offer three months interest-free credit on online purchases.
Topshop, Dorothy Perkins, Miss Selfridge and Burton will now offer a “Buy Now, Pay Later” scheme.
Online shoppers will undergo an online credit check by being asked four questions when in the payment screen, then have up to three months to pay for the item.
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This new initiative aimed at targeting millennials sees the embattled billionaire‘s group partner with financial technology supplier Klarna.
“To get ahead, retailers need to offer a simple, hassle free browsing and buying experience that integrates seamlessly into their customers‘ lives,” Klarna UK general manager Luke Griffiths said.
“We are excited to offer an innovative solution to one of the biggest challenges UK retailers face, and to be pioneering a new approach to retail financing with some of the country‘s biggest brands.”
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