Mike Ashley’s Frasers Group is making a strategic move to introduce its new buy-now, pay-later service, Frasers Plus, to some of the UK's major online retailers. Frasers Group, which owns notable brands like Sports Direct and House of Fraser, has been actively lobbying retailers such as Asos, Boohoo, Currys, and AO to integrate Frasers Plus into their payment options. This initiative seems to be part of a broader strategy that explains Frasers' significant investments in these companies. Frasers Plus is an app-based credit service that allows consumers to make purchases and pay in three interest-free monthly instalments, with a subsequent variable APR of 29.9% for further credit. One of the key selling points for Frasers Plus is its zero-fee model for merchants, contrasting with Klarna's average fee of 2.6% per transaction. Additionally, Frasers emphasizes that its service is regulated by the Financial Conduct Authority (FCA), a regulatory endorsement that Klarna lacks.
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