Klarna Partners with Adyen to Launch BNPL in Physical Retail
Date
9/26/2024 9:49:30 AM
(MENAFN) Swedish firm Klarna has announced a partnership with Dutch payments fintech Adyen to introduce its buy now, pay later (BNPL) service in physical retail stores. The agreement will enable Klarna's payment options at over 450,000 Adyen payment terminals used by the fintech's merchant partners.
The initial rollout of this service will take place in Europe, North America, and Australia, with plans for a broader expansion in the future. Klarna’s BNPL service allows consumers to spread payments over interest-free installments, traditionally linked to online shopping, which represents about 5% of the global e-commerce market according to Klarna.
Targeting consumers in-store has become an increasingly important priority as Klarna and other firms in the sector, such as Block’s Afterpay, Affirm, Zip, Sezzle, and Zilch, seek to expand their reach.
The move expands on a previous arrangement Klarna had in place with Adyen regarding e-commerce payments.
“We want consumers to be able to pay with Klarna at any checkout, anywhere,” David Sykes, chief commercial officer at Klarna, said in a statement Thursday.
“Our strong partnership with Adyen gives a massive boost to our ambition to bring flexible payments to the high street in a new way.”
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