{"id":10124,"date":"2023-08-14T01:59:09","date_gmt":"2023-08-14T01:59:09","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/john-lewis-boss-eyes-buy-now-pay-later-offer\/"},"modified":"2023-08-14T01:59:09","modified_gmt":"2023-08-14T01:59:09","slug":"john-lewis-boss-eyes-buy-now-pay-later-offer","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/john-lewis-boss-eyes-buy-now-pay-later-offer\/","title":{"rendered":"John Lewis boss eyes buy now, pay later offer"},"content":{"rendered":"

\"Retail<\/a><\/p>
\n<\/p>\n

\n
\n
\"John<\/div>\n

New John Lewis Partnership chief executive Nish Kankiwala is eyeing developing a Klarna-style buy-now-pay-later (BNPL) offer for customers.<\/span><\/p>\n

He told The Mail on Sunday: \u201cI think we will develop a buy-now-pay-later product. Especially in the younger generation, people expect it.\u201d<\/span><\/p>\n

John Lewis currently offers BNPL on a selection of higher-priced goods. <\/span>It has not partnered with Klarna or any of its rivals like many other retailers to make the payment option widely available across its product range.<\/span><\/p>\n

The introduction of such an offer in middle class retailer John Lewis would be a landmark moment for BNPL, which has boomed in recent years due to the growth of Klarna.<\/span><\/p>\n

Despite its growing popularity, BNPL remains a controversial payment method with concerns that it encourages users to get into debt.<\/span><\/p>\n\n

Subscribe to Retail Gazette for free<\/strong><\/h5>\n

Sign up\u00a0here\u00a0to g<\/span>et the latest news straight into your inbox each morning<\/span>\u00a0<\/span><\/strong><\/p>\n\n

The government has set out its intention to regulate the BNPL industry.<\/span><\/p>\n

John Lewis is also planning to introduce an interest-bearing credit option charging 16.9% on electrical goods bought online or through its app.<\/span><\/p>\n

It will extend the offer to furniture and store-based purchases.<\/span><\/p>\n

Financial services is a growth area for John Lewis. Chair Dame Sharon White plans to invest \u00a3100m as it plans to quadruple its financial services business over the next five years.<\/span><\/p>\n

Click here to sign up to Retail Gazette\u2018s free daily email newsletter<\/strong><\/em><\/p>\n<\/p><\/div>\n