NEW YORK, Nov. 19, 2020 /PRNewswire/ -- Klarna, the leading global payments and shopping service, today announced that it has expanded its in-store payment services to more than 60,000 stores nationwide, including top retail brands such as H&M, O.N.S. Clothing, The North Face and Timberland. Customers will now be able to make purchases using Klarna's four, interest-free payments at even more physical stores ahead of the peak holiday shopping season.
"While online retail continues to accelerate at a rapid pace, consumers still value the in-store experience and expect the same level of service and convenience whether they're shopping online or in person. Given how essential smartphones have become in consumers' everyday lives, it's critical for retailers to provide a seamless shopping experience across channels that also includes flexible, mobile payment options at checkout," said Sebastian Siemiatkowski, CEO of Klarna. "We're thrilled to be able to expand our in-store offering ahead of the peak holiday season."
According to Klarna's 2020 Holiday Retail Report, a majority of US consumers think it's more fun to shop in physical stores during the holidays (54%) than online (46%). About 30% of total shoppers surveyed, including 39% of Gen Z and millennials, would also spend more this holiday season if they could break their payments up into interest-free installments over two months.
To pay with Klarna at participating physical stores, customers can use the app to create a one-time virtual card that gets added to their preferred digital wallet. They can then use their mobile device to make a purchase as they typically would at any store that accepts contactless payments. Klarna's in-store option provides shoppers with greater payment security and flexibility, as well as a contactless payment method at a time when both retailers and shoppers are prioritizing health and safety measures. Shoppers can find the full list of available retailers in the Klarna app by clicking on the "In-store" button at the bottom of the screen.
Launched in January 2020 with leading brands like MCM, Journeys, rue21, and Sephora, the in-store solution has grown increasingly popular among shoppers and merchants alike. It's clear that customers enjoy the ability to spread purchases across four, interest-free payments whether they're shopping online or at a physical store. Retail brands benefit from the ease and convenience of accepting Klarna payments without technical integration. Klarna will be adding hundreds of the largest and most popular brands to its in-store service through the rest of the year and into 2021.
Klarna is the pioneer and global leader of buy now, pay later options. With more than 200,000 retail partners and 90 million shoppers worldwide, Klarna offers consumers convenience, flexibility and control. The Klarna app, which enables customers to shop at any online store while offering a best-in-class user experience, sees more than 12 million monthly active users globally. In September the Klarna app took the number one spot among the most downloaded shopping apps in the US App Store.
We make shopping smoooth. With Klarna consumers can buy now and pay later, so they can get what they need today. Klarna's offering to consumers and retailers include payments, social shopping, and personal finances. Over 200,000 merchants, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna's innovative shopping experience online and in-store. Klarna is the most highly valued private fintech in Europe with a valuation of $10.65 billion, and is one of the largest private fintechs globally. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. For more information, visit klarna.com.
Klarna Media Relations
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SOURCE Klarna Bank AB