Arcadia has announced the launch of Klarna’s newest payments product — Slice it in 3 — across all brands.
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 hugely popular 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 means splitting payments is now easier than ever before, with shoppers enjoying a ‘smooother’ path to purchase and more options at the till. This gives customers the financial control and flexibility they want, without committing to a long-term relationship and with no extra fees.
Partners since 2016, Arcadia Group Ltd and Klarna have worked closely to constantly evolve what the portfolio of brand offers its customers and the overall shopping experience. The adoption of Slice it in 3 is the next step in this partnership and forms part of Arcadia’s mission to put customer experience at the heart of its offer — turning a transaction into a service for their millions of shoppers.
With over 2,000 outlets across the UK including some of the high street’s best-loved fashion brands such as Topshop/ Topman, Miss Selfridge, Wallis and Burton, 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 Group Ltd brands, and will complement Klarna’s Pay later option which will remain available for smaller basket values. The use of these products will give customers maximum flexibility when it comes to choosing how they pay.
Richard Burchill, group head of treasury at Arcadia Group, said: “We’re constantly on the lookout for new and innovative ways to make life easier for our customers and improve the way they shop. Klarna’s Slice it in 3 will deliver just that; a simple way to split payments without a formal credit agreement. 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. We’re proud to be the first fashion retailer to offer this service, and bringing it to all our brands will give all our customers the chance to use it.”
Luke Griffiths, general manager at Klarna UK, added: “Slice it in 3 is versatile and flexible for both retailers and shoppers; it’s a must have. Our relationship with Arcadia is built on years of mutual understanding, as well as a shared desire to redesign the shopping experience. That’s why Arcadia is the perfect partner for our latest product. They continue to stay on the front row when it comes to fashion and innovation by giving their customers the best possible experience. With Arcadia pioneering Slice it in 3 we can’t wait to see what their customers think of our new way to pay.”