Europe’s leading payments provider Klarna has announced today that all its alternative payment options are now available both in-store as well as online.The announcement comes following Klarna’s 2018 figures which highlighted in-store as a significant area of growth for 2019. The alternative payment options available include:
- Shoppers can pay later, up to 30 days after delivery of goods;
- Shoppers can pay for purchases in three equal instalments collected monthly;
- For higher-ticket items, consumers can use Klarna’s consumer finance in 6-36 month payment plans.
With the majority of retail transactions in the UK still taking place in-store, Klarna has made the move into physical retail to support the needs of multi-channel clients.
Klarna’s solutions will work with any connected smartphone. Customers can pay via their phone at the till by either scanning a QR code on the retailers’ screen or being sent an SMS or email with a payment link. They will then be able to fill out their information and select a payment method. Klarna makes a real-time approval decision, offering a smooth and seamless payments process for merchants and consumers choosing the high street over a screen.
Having access to deferred payments in-store means consumers can boost their purchase power right when they need it at the point of sale, take their items home the same day and repay how and when suits them.
In addition, for Klarna’s consumer finance service, the number of steps in the credit application process are greatly reduced compared to competitor offerings, while still remaining accurate and secure — with an average completion time of just one minute. This convenience and fast checkout experience increases conversion and sales for the merchant.
Luke Griffiths, General Manager at Klarna UK, said: “Shoppers today want more control over their buying experience. Our mission is to make payments as seamless and stress-free as possible. We’re now bringing more payment flexibility to the in-store environment, so shoppers can move smoothly through the purchase journey, whether they choose to shop online or on the high street.”
Founded in Stockholm, Sweden, in 2005, Klarna works with 130,000 merchants, including ASOS, Topshop, H&M and JD Sports in the UK, to offer payment solutions to users across Europe and North America.