Marks & Spencer has signed up with Clearpay to offer its online customers the opportunity to spread their payments into four equal instalments when spending over £30. The retailer hopes that the interest fee option will attract younger customers who, these days, are being offered a number of similar schemes by other retailers. Some 4000 UK based retailers currently work with Clearpay competitor Klarna which boasts some 3 million customers.
M&S Bank and services director Kirsty Ward commented: “We’re committed to providing our customers with seamless, easy and convenient ways to pay, and that’s why we’ve introduced this fully integrated and interest-free option to help spread the cost of shopping on M&S.com. The Clearpay solution complements our existing M&S Credit and Debit Cards offered through M&S Bank.”
The new facility will be available to customers from mid-November, in time for the Christmas shopping period.
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