M&S have launched a ‘buy now, pay later’ scheme with the aim of encouraging Christmas shoppers.
The UK retailer hopes to launch the service in the next few weeks. Consumers will be able to purchase items online in clothing and homeware. All transactions over £30 can be paid in installments over a 6 week period via an app. The repayments will also be interest free.
The scheme is being launched in conjunction with Clearpay and is an attempt to attract younger consumers. The maximum spend will be £800 and consumers will be able to manage their repayments via the app.
Kirsty Ward, director of M&S Bank and services comments: “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.”