M&S is set to offer its online customers the option of paying for their purchases via six-week interest free instalment payments.
The payment option will be available in partnership with Clearpay, and will launch mid-November for all UK M&S.com customers making purchases over £30.
This comes as part of the retailers move to become more relevant to customers. M&S has said that the introduction of the new payment method will help it to achieve its business target of one third of UK clothing and home sales coming from online by 2022.
Kirsty Ward, director of M&S Bank and services, said: “We’re committed to providing our customers with seamless, easy and convenient ways to pay, and that’s why we’ve introduced this fully integrated and interest-free option to help spread the cost of shopping on M&S.com. The Clearpay solution complements our existing M&S Credit and Debit Cards offered through M&S Bank.”
