Shoppers at Marks and Spencer will soon be able to delay paying for online purchases by six weeks after the retailer signed a deal with a 'buy now, pay later' company.
M&S has partnered with Clearpay on the new service with the payment option due to be available to all UK marksnadspencers.com customers from mid-November.
Customers looking to use the service will have a spending limit of £800, helping keep repayment costs down.
After paying 25% of the order upfront, shoppers will be able to pay the rest in three instalments at no extra cost.
Late payment will incur a £6 fee and no-payment charges are capped at 25% of the order, or £36, whichever is lower.
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M&S is hoping to attract younger shoppers on the run up to Christmas with the new service, which is available on purchases of more than £30.
The new payment option will give the likes of students, low earners and people with young families an easier, more manageable way to spread the costs.
The Clearpay service a popular payment choice for retailers with top brands including Lookfantastic, BooHoo, Foot Locker, JD Sports and I Want One Of Those already offering the plan to online customers.
Clearpay, which only launched in the UK three months ago, says it gained more than 200,000 active customers in the first 15 weeks of trading.
Although it may not be for everyone, if you are looking for a way of making Christmas spending a little more bearable over the coming weeks this could be an option.
