NET-A-PORTER Partners with Klarna to Offer Customers New Payment Options
Francesca Mercurio — August 9, 2021 — Luxury
References: net-a-porter & member.fintech.global
Luxury fashion company NET-A-PORTER has partnered with payment app Klarna to offer its customers adaptable payment options. NET-A-PORTER will now offer a range of flexible payment options, such as paying in installments of three and four. This allows its customer base to access luxury retail in an affordable fashion.
Customers are invited to shop the plethora of luxury brands on the NET-A-PORTER site and choose one of the numerous payment options with no interest charged. The company has launched this new feature in the US, UK, and several European countries, and plans to expand this payment feature to its other brands such as YOOX and THE OUTNET. Klarna is an easy-to-use payment app and has partnerships with several leading retailers including H&M, Sephora, and Macys.
Image Credit: NET-A-PORTER
Customers are invited to shop the plethora of luxury brands on the NET-A-PORTER site and choose one of the numerous payment options with no interest charged. The company has launched this new feature in the US, UK, and several European countries, and plans to expand this payment feature to its other brands such as YOOX and THE OUTNET. Klarna is an easy-to-use payment app and has partnerships with several leading retailers including H&M, Sephora, and Macys.
Image Credit: NET-A-PORTER
Trend Themes
1. Adaptable Payment Options - Luxury brands are partnering with payment apps to offer customers adaptable payment options, allowing diversified purchasing options and increased affordability.
2. Installment-based Payment - The rising popularity of installment-based payment options offers opportunities for financial tech and retail companies to offer alternatives that cater to diverse consumers.
3. Multi-platform Payment Integration - The increasing integration of payment apps across multiple platforms and industries opens up opportunities for seamless financial transactions, and developing a broader audience.
Industry Implications
1. Retail - The retail industry can adopt flexible payment options to encourage more consumers to splurge on luxury products without feeling the burden of a high-priced purchase.
2. Fintech - Payment apps offer significant growth prospects for fintech companies to innovate payment solutions that will facilitate zero-interest loans, diversified and convenient checkout options.
3. E-commerce - E-commerce companies, such as NET-A-PORTER and YOOX, can capitalize on payment app partnerships to streamline their transactions and offer better service to their clients.
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