Fashion retailer MATCHES now offering Clearpay buy now pay later solution at online checkout
Buy now pay later specialist, Clearpay, has announced a partnership with London-based luxury clothing brand MATCHES.
The retailer now offers online customers an interest free, pay in four payment option.
MATCHES CEO, Nick Beighton, says: “We are pleased to pioneer customer innovation here at MATCHES and by working with Clearpay, we are able to offer flexibility to our customers by giving them autonomy on their payment choices.”
“We are delighted to offer this option across our platforms and hope this will empower the customer to make the payment decision best suited to their lifestyle.”
Rich Bayer, Clearpay’s UK Country Manager, says: “The crucial festive trading period is almost upon us with 39% of consumers having already begun or starting their Christmas shopping this month.”
“By offering payment choice with Clearpay at the checkout, retailers can offer flexibility to consumers, helping them manage their spending. We have a successful track record in supporting our retail partners to attract new customers and convert sales, and we look forward to driving results for Matches.”
BNPL at Christmas
The forecast, which is based on Adobe Analytics data from hundreds of billions of actual online transactions and the prices of 100 million SKUs since 2019, also reveals the level of discounting on offer across 18 retail categories.
The use of buy now pay later services, meanwhile, is expected to set new records, driving £3.7 billion in online spending during the holiday season alone, up 8.8% YoY and £300 million more than last year.
Adobe expects BNPL spending across the biggest shopping days (Cyber Weekend and Boxing Day) to hit £544 million, a 13.8% YoY increase, with Cyber Monday set to be BNPL’s largest single day with £153.5 million projected to be spent, surpassing 2022’s daily record of £134.9 million, which also occurred on Cyber Monday.
BNPL has already seen strong traction this year, with £13.5 billion spent so far in 2023, up 16% YoY and £1.9 billion more than during the same period last year. Over the full year, Adobe expects BNPL spend to reach £17.2 billion, a 26% increase on the previous year.
Adobe’s consumer survey found that 39% of shoppers had used BNPL at least once this year, and 15% plan to use it to buy Christmas gifts over the festive period.
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