LAS VEGAS, October 22, 2018 /PRNewswire/ -- Today at Money20/20 in Las Vegas, Klarna, a leading global payments provider, introduced their Slice it in 4 payment option, which allows consumers to pay for purchases in installments using their own debit or credit card. In conjunction with the launch, Klarna has signed its first U.S. merchant, Rancourt & Co., premium leather shoe crafters, to use the offering.
"Our mission at Klarna is give all shoppers greater flexibility over how and when they pay for their purchases," said Michael Rouse, Chief Commercial Officer of Klarna. "In the U.S., consumers expect a variety of convenient payment options at checkout. By using Klarna ,younger, debt-conscious consumers, who prefer debit cards over credit cards, now have a better option to pay online that enables them to manage their finances while still being able to make the purchases they want. We're thrilled that Rancourt will be the first to offer our newest payment option to their customers."
In today's market, 67% of U.S. millenials do not own a credit card. With Klarna's Slice it in 4, shoppers can increase their purchasing power without the hassle of a credit agreement or long-term commitment. Four equal payments are automatically collected from the consumer's chosen method of payment - one installment at purchase and three further payments every two weeks. The plan features no upfront costs or interest and is offered online within the merchant's existing checkout - ensuring the purchase journey is frictionless with no redirects to other sites.
"Klarna is a recognized leader in the payments industry, with a proven track record of delivering flexible options to merchants like us, who need to keep a competitive edge," said Kyle Rancourt, VP of Brand Management at Rancourt & Co. "By offering the Klarna option to our quality-focused customers, we are giving them the power to purchase our handmade goods with flexibility and without limiting their choices based on price."
For more information, visit www.klarna.com.
Attending Money20/20? Hear more from Klarna's CCO Michael Rouse on Monday, October 22 on the RIP Credit Cards panel. Details here. Follow along on Twitter for live updates from the show @Klarna.
It's all about smoooth (yes, with 3 ooo's). Klarna is Europe's leading payments provider and a newly-licensed bank, which wants to revolutionize the payment experience for shoppers and merchants alike. Founded in Stockholm, Sweden, in 2005, the fintech unicorn gives online consumers the option to pay now, pay later or over time - offering a trusted, frictionless and smoooth checkout experience. Klarna now works with 90,000 merchants to offer payment solutions to users across Europe and North America. Klarna has 2,000 employees and is active in 14 countries.
Rancourt & Co.
Rancourt & Co. is a family-owned company that has been making footwear in Lewiston, Maine for over 50 years. We're committed to quality and craftsmanship at the best value in American-made footwear.
Rancourt & Co.
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SOURCE Klarna Bank AB (publ)