Rite Aid has announced a partnership with Klarna, a global payments network, to introduce a buy now, pay later (BNPL) option for customers, allowing them to pay for purchases in four interest-free installments. This service, called Pay in 4, requires customers to make the first payment at checkout, followed by three payments every two weeks. While BNPL services are typically associated with larger purchases, Rite Aid's initiative targets everyday essentials, which have seen price increases, making them a financial burden for many families. Notably, prescriptions and medical services are excluded from this program. Industry experts believe that this move could help Rite Aid build customer loyalty in a competitive market, as it provides flexibility for consumers facing unexpected expenses. Although it remains uncertain whether this initiative will be profitable for Rite Aid or Klarna, it could serve as a strategic marketing tool for both companies to expand their customer base and enhance brand loyalty.
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