Payments and consumer finance provider, Klarna, has announced a partnership with EMaC – the UK provider of service plans to the UK automotive industry. EMaC dealers can now offer their customers the ability to use Klarna's consumer finance in store to pay for repairs and vehicle accessories, interest-free, as part of a 'Drive now, Pay later' programme.
The launch of the flexible monthly instalment plan - up to twelve months - comes as EMaC brings to market a wider suite of services designed to enhance dealer profitability throughout the entire auto ownership lifecycle. The 'Drive Now, Pay later' service uses Klarna's cutting-edge technology which delivers a friendly consumer finance experience with easy credit application process and real-time decisioning.
Customers will now be able to pay for car repairs, parts and MOTs over time, bringing Klarna's tried and tested online credit offering to the physical retail environment. It will allow big-ticket purchases that can often come at inconvenient times, to be spread evenly through an agreed payment plan. And with full support from EMaC's experienced field team to set up the programme, dealers also benefit from staff training, ongoing performance reviews and best practice advice.
Commenting on the partnership, Luke Griffiths, General Manager for Klarna UK says, "Having a variety of options at the till gives customers considerably more flexibility, and a much better payment experience. By introducing Klarna's consumer finance, EMaC are ensuring that customers, who may be making bigger ticket purchases, like car parts or repairs, will now be able to pay in a way that suits them, on their schedule. At Klarna, we're focused on giving consumers control over how and when they choose to pay for their purchases, and this is a great step in our ongoing mission."
John O'Donnell, Managing Director for EMaC, comments, "Drive Now, Pay later is an exciting launch for EMaC, built on a strong partnership with Klarna. As a business, focusing on delivering a customer-centric approach to our day-to-day operations remains at the core of our ambitions. Drive Now, Pay later is the first of a range of new solutions for dealers that are designed to help them develop new revenue streams. By building on our position as the leading provider of service plans and expanding our portfolio of value adds, we are perfectly placed to deliver tailor-made consumer retention solutions to dealers."