December 15, 2020 - Klarna, the leading global payments and shopping service, today announces a strategic partnership with Verifone, a global leader in payments and commerce solutions, that will make Klarna available as the first-ever buy now pay later solution to millions of Verifone devices in the US and Europe.
The integration to Verifone’s Cloud Services platform empowers consumers to leverage Klarna’s payment suite including ‘Interest-free payments’, ‘Pay later in 30 days’ with no interest and ‘Financing’ in store. Together, Klarna and Verifone enable retailers to create a personalized and smoother experience for their customers, ultimately unlocking growth, boosting conversion rates and driving customer satisfaction and loyalty.
The ongoing pandemic has impacted shopping behaviors worldwide and the use of contactless payments in stores has increased rapidly according to a recent McKinsey report as consumers aim to avoid physical contact in order to stay healthy. Using Klarna in store is easy for consumers and they can complete their purchases securely in a few simple steps on their smartphones: At checkout, the consumer will select Klarna as the payment option on the screen of the Verifone device, scan a QR code, and then verify their ID.
Luke Griffiths, Chief Commercial Officer of Klarna: “The last few months have seen unprecedented challenges for physical retail. We truly believe that there is a role for the physical store within the future retail brand experience, and now more than ever consumers desire flexibility, transparency and a more convenient payment experience. We are excited to partner with Verifone as one of the largest and most impactful players in the in store space, and also being the first buy now, pay later provider on millions of devices. Together we will support retailers globally in creating a superior and more seamless shopping experience for consumers in store.”
Jeremy Belostock, Head of Alternative Payments, Verifone: “Enabling alternative payment methods in store is truly exciting, and it’s only possible in such a seamless manner through the Verifone Cloud Services platform we’ve created over the past few years. Klarna is particularly interesting and unique in that merchants will have access to new, larger revenue opportunities through its flexible payment options, and Klarna comes with simple settlement functionality for the merchant. We’ve removed the complexity for merchants. Retailers of all sizes have seen massive success with Klarna online, and with Verifone, they’ll see the same success in store.”
For further information, please contact:
+46 (0) 72855 83 29
We make shopping smooth. With Klarna, consumers can buy now and pay later, so they can get what they need today. Klarna’s offering to consumers and retailers includes payments, social shopping and personal finances. Over 200,000 retail partners, 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 and the fourth highest globally, with a valuation of $10.65 billion. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. Klarna has been backed by Sequoia Capital since 2010 and more recently, Dragoneer, Bestseller Group, Permira, Visa, Atomico, Ant Group and Silver Lake, HMI Capital, TCV amongst others. For more information, visit klarna.com.
Verifone is transforming everyday transactions into new and engaging opportunities for merchants and consumers. Powered by a growing footprint of more than 35 million devices in more than 150 countries, our people are trusted experts working with the world’s best-known retail brands, financial institutions and payment providers. Verifone is connecting more products to an integrated solutions platform to better meet the evolving needs of our clients and partners. Built on a 39-year history of uncompromised security, we are committed to consistently solving the most complex payment challenges. More information at www.verifone.com.