John Lewis, a prominent retailer, partners with Klarna to offer a new payment option.
- Customers can now use Klarna’s ‘Pay in 3’ service for interest-free instalments.
- The service aims to enhance financial flexibility for John Lewis customers.
- This partnership seeks to attract a broader customer base.
- Klarna is expected to streamline the checkout experience on John Lewis’s online platform.
John Lewis has announced a partnership with Klarna, a well-known name in the payment solutions sector, to introduce an innovative ‘buy now, pay later’ system. This initiative allows the esteemed department store to offer its online clientele the flexibility of spreading purchase costs over three interest-free instalments within a 60-day window.
This new payment method is an extension of John Lewis’s existing options, previously limited to certain high-value items such as nursery and electrical products. The Klarna collaboration makes this flexible option more widely available, offering a significant benefit to everyday shoppers.
Andy Piggott, the Director of Credit and Banking at John Lewis Money, remarked on the retailer’s commitment to financial inclusivity. “We’re committed to making it easier for customers to manage their budgets with a range of flexible and secure ways to pay,” he stated.
From Klarna’s perspective, this partnership aims to enhance customer reach and improve the shopping experience. Raji Behal, the head of Western and Southern Europe at Klarna, noted the significance of working with a “beloved British institution,” emphasising how this venture will bring Klarna’s benefits to John Lewis’s vast customer base.
By integrating Klarna’s payment solutions, John Lewis is set to modernise its transaction processes and appeal to consumers who prioritise financial management and convenience, in turn potentially driving new consumer traffic.
The collaboration between John Lewis and Klarna highlights a significant shift towards adaptable consumer payment solutions in retail.
