Monday, 07 January 2019 15:18
Big payment names join up for missguided mission
Payments provider Klarna, SaaS platform Poq and online payment platform Stripe have joined forces to provide pay-later provision to shoppers wanting to try before they buy.
As the trend for multiple ordering and returns continues to grow, youth fashion brand Missguided is making it even easier for shoppers, by not billing them for 30 days after they have ordered.
Missguided is considered to be one of the fast growth fashion retailers. Using the Missguided app , consumers not only have a 30 day delay using Klarna’s Pay later product, but there are no interest or fees.
Missguided, established in 2009, has always pushed to achieve the best possible experience for its customers. Having developed unprecedented demand in the short period since launch, the app alone now accounts for over 30% of mobile orders at Missguided. In addition, the brand’s high profile partnerships with programmes like ‘Love Island’ have helped drive its reputation as a retail titan and an edgy one at that.
The combination of Stripe’s technical infrastructure, Poq’s proven success in app commerce, along with Klarna’s in-demand payment products made this an interesting collaboration.
Luke Griffiths, General Manager at Klarna UK, commented: “They say two heads are better than one, but in our case, three was the magic number. Collaborating with Stripe and Poq meant access to some of the greatest expertise in the payments industry and enabled us to create a unique product, truly tailored to Missguided and their customers. Fearless when it comes to progress, it’s just one of the reasons Missguided have achieved the success they have today. Our Pay later product will give its customers more flexibility, allowing them to try before they buy — and that’s a trend we’re seeing become more in-demand with online-first retailers.”
Jonathan Wall, Chief Digital Officer at Missguided added: “Our customers drive everything we do, so it makes sense that we make sure they have the best experience when shopping with us. I want Missguided shoppers to feel excited when they open our app, and making the latest lines and limited editions more accessible through Pay later is part of that mission. Klarna shares our vision when it comes to innovation, and our desire to make life simple, quick and worry-free for our shoppers. Bringing Klarna’s experience together with our existing partners meant we got the best of both worlds, and we can’t wait for our customers to start enjoying flexible payments.”
Iain McDougall, UK Country Manager at Stripe, added: “This partnership bridges the gap between consumer expectations of seamless mobile payments and the complexity of building a first-class mobile checkout. For tech-forward retailers today like Missguided who want to maximise mobile conversion, adding a new payment method like Klarna shouldn't be reworking your fund flow, but a checkbox. Stripe is radically reducing the complexity of tailoring payment experiences so customers, no matter what device they're using or where they're buying from, can check out quickly in a way that suits them.”