UK-based retailer Marks & Spencer (M&S) now offers Klarna at checkout on M&S.com and in the M&S app for purchases within its Fashion, Home & Beauty range. Shoppers selecting Klarna can split the cost of an order into three equal payments, with no interest charged.
The product made available at M&S is Klarna's pay-in-three option. According to Klarna, it comes with transparent terms and does not involve a revolving balance. Each purchase is therefore repaid over a fixed schedule with a defined end date, rather than being carried as an ongoing credit line.
The launch is limited to digital channels and to specific categories. The announcement refers to purchases made on M&S.com and through the retailer's app, covering the Fashion, Home & Beauty part of its offering. It does not mention availability in physical stores or for other product categories.
Stated objectives for both companies
Klarna, which describes itself as an everyday finance network, presents the M&S agreement as part of its aim to offer consumers interest-free flexibility wherever they shop. Klarna Head of UK, Ireland & Western & Southern Europe, Raji Behal, described the integration as a way for M&S customers to spread the cost of purchases without paying interest and with a clear end date.
For M&S, the move is framed around making the shopping process simpler. Katherine Carlson, Director of Financial Services at M&S, from the retailer's financial services division said the option is intended to make it easier for customers to shop with M&S, giving those using the website and app more flexibility in how they pay.
Merchant network and UK retail footprint
With the addition of M&S, Klarna reports that it works with more than 1.2 million merchants globally. The company also states that its UK merchant base includes all of the country's major department stores, placing the M&S launch within its existing presence in that segment.
According to Klarna, M&S serves millions of shoppers every day, and the integration extends interest-free instalment payments to the retailer's online and app customers. For the flexible payments market, the deal places a fixed-term, interest-free option within the checkout of a major UK retailer, with both companies emphasising transparency of terms in their statements.
