Romwe, an online fashion, lifestyle and home décor retailer, has partnered with Klarna to offer an installment payment option that enables shoppers to spread the cost of their purchase over four interest-free payments every two weeks.
The “buy now, pay later” model is becoming more popular with Millennial and Gen Z shoppers since the process gives them more time to make the full payment without worrying about any detrimental effects to their credit rating.
Shoppers can enter their credit or debit card information upon checking out; Klarna will use this card for all scheduled automatic payments. Klarna is only available to Romwe customers with a U.S. resident address and only can be used on purchases made on us.romwe.com. The order value of the purchase must be between $35 and $1,000.
The partnership comes one week after fast fashion retailer Shein tapped Klarna to manage its installment payments initiative. To date, Klarna has powered more than 200,000 merchants worldwide.