London, 7th January 2019 — Three of the biggest names in digital payments have today announced a partnership to enhance Missguided’s UK app, by reforming the way shoppers can pay for their clothes. The fast growth fashion retailer enlisted Klarna, Poq and Stripe to team up and share expertise and experience to create a tailored and seamless journey for app shoppers.
UK customers can now order items from the Missguided app and pay for them 30 days later using Klarna’s Pay later product, with no interest or fees. Fashion-lovers can then make sure that the colour, style and fit, works for them, without having to part with any money up front.
The combination of Stripe’s technical infrastructure, Poq’s proven success in app commerce, along with Klarna’s in-demand payment products made this collaboration the perfect blend of expertise. Together, they will deliver a best in class payments experience which ensures shoppers can choose flexible payment options, shop safely and securely, and enjoy a market-leading app experience.
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.
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.”
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Electra Gerolymbou/ Chantal Swainston, firstlight PR,
+44 20 3617 7240
It’s all about smoooth (yes, with 3 ooo’s). Klarna is Europe’s leading payments provider and a newly-licensed bank, which wants to revolutionise the payment experience for shoppers and merchants alike. Founded in Stockholm, Sweden, in 2005, the fintech unicorn gives online consumers the option to pay now, pay later or over time – offering a trusted, frictionless and smoooth checkout experience.
Klarna now works with 100,000 merchants, including ASOS, Topshop, H&M and JD Sports in the UK, to offer payment solutions to users across Europe and North America. Klarna has 2,000 employees and is active in 14 countries.
Missguided is one of the fastest growing women’s online retailers in the world. Founded in 2009 by Nitin Passi, it has become a leading rapid fashion retailer, taking an agile approach that sees it deliver commercial and affordable products to its customers before trends hit.
Its signature confident style and broad product range has driven global development in recent years, now selling to over 160 countries and locally active in the US, Australia, France, Spain, Ireland and Germany, with future plans for further international expansion and a loyal following of 4.8 million social media fans worldwide across multiple platforms.
Missguided have further developed their global profile and growth through wholesale opportunities with established brands such as Selfridges, ASOS, Schuh, Zalando, The Fragrance Shop and two flagship stores at Westfield, Stratford and Bluewater, Kent.