John Lewis has teamed up with Klarna to enhance payment flexibility for its online customers.
- The partnership introduces an interest-free ‘Pay in 3’ product, spreading payments over 60 days.
- Previously, John Lewis offered pay later options on specific nursery and electrical items for eligible purchases.
- Andy Piggott stated this move aims to simplify budget management for customers.
- Klarna’s Raji Behal expressed excitement about integrating their services with a reputable British retailer.
John Lewis, a prominent department store, has recently partnered with Klarna to provide a ‘buy now, pay later’ option to its online clientele. This collaboration enables customers to utilize Klarna’s interest-free ‘Pay in 3’ service, which allows them to spread the payment of their purchases over a period of 60 days. This initiative is part of John Lewis’s effort to offer more flexible payment solutions beyond their current options for certain nursery and electrical products, applicable on purchases between £500 and £1,500.
Andy Piggott, John Lewis’s Money director of credit and banking, highlighted the store’s commitment to giving customers more control over their finances by offering various secure and flexible payment methods. ‘We’re committed to making it easier for customers to manage their budgets,’ Piggott remarked, emphasizing the importance of such financial tools in today’s market.
Klarna has established itself as a preferred payment choice for a wide array of categories, including beauty, fashion, homeware, and electronics. Raji Behal, Klarna’s head for western and southern Europe, expressed enthusiasm about this new partnership. ‘John Lewis, a beloved British institution, is renowned for its quality, wide selection, and exceptional service,’ Behal noted. He further commented that the interest-free BNPL (Buy Now, Pay Later) service would not only ease financial management for shoppers but also attract a new demographic of customers who may not have previously considered John Lewis.
John Lewis’s decision to partner with Klarna reflects a broader trend in the retail industry towards offering more consumer-friendly purchasing options. By integrating Klarna’s payment platform, John Lewis endeavours to become more accessible to a wider audience, ensuring they remain competitive and customer-focused in a rapidly evolving market.
This partnership marks a strategic step for John Lewis in enhancing customer accessibility and convenience.
