Clearpay adds Asos to UK roster

Clearpay, the UK arm of Australian Afterpay Touch Group, has officially launched a Pay in 4 partnership with Asos.

The buy now, pay later tie up builds on a deal with Marks and Spencer. “M&S is in what they call a transformation process. A big part of that is digital, and another big part of that is a younger demographic. If you look at their marketing now, their photo shoots, it’s very young, it’s very 20s early 30s,” Carl Scheible, CEO at Clearpay told Financial Review.

“That is one of the reasons why they chose us. We’re not a credit provider, they have a huge financial services business themselves, they have a large credit card portfolio; so it wasn’t really about that, it was about the fact that our positioning as a slightly different product really resonates with that demographic they’re targeting.”

Klarna

Asos also recently announced that it was extending its partnership with Clearpay rival Klarna.

The pureplay will now be offering customers in the UK the option to pay in three monthly instalments, interest and fee-free. This adds to a Pay later in 30 days offering, which was first introduced in 2017.

Eve Williams, Brand Director at Asos, commented: “We want to give our customers the best choice in everything we do; whether that is in the broad range of Asos Design and branded products, smooth and fast delivery or payment options. We know these are all important to our customers - the addition of Klarna Pay in 3 in the UK will help provide the best experience for our customers.”