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Klarna says “Γεια σας” to Greece with its interest-free “Pay in 3” service and shopping app

September 20, 2022




Klarna Launch Greece
  • With Klarna’s “Pay in 3”, Greek shoppers can now split online purchases into 3 monthly payments with no interest using their regular debit card.
  • Klarna’s all-in-one shopping app launches in Greece, enabling consumers to manage payments, track deliveries, set their budget and more.
  • Public Group makes a strategic investment in Klarna and becomes the first Greek retailer to join Klarna’s rapidly-growing network of partners in Greece

Athens – September 20th, 2022Klarna, a leading global retail bank, payments and shopping service, in June expanded into Greece with its “Pay in 3” service, empowering Greek online shoppers to save time and money, be informed and in control of their finances. Public, Greece’s largest omnichannel retailer, is the first brand to offer Klarna’s flexible payment option in Greece, along with further well-known international and local retailers such as H&M, Cosmos Sport and Spitishop. In addition, Public Group joined Klarna’s recently announced $800m financing round as a strategic investor, further propelling Klarna’s expansion in the Greek market. 

“Greek shoppers want to see and feel their online purchases before paying for them, but they are traditionally averse to credit cards due to extortionate interest rates and hidden fees. So, the majority has to resort to cash on delivery payments, which are clunky and costly for both consumers and retailers,” said ​​Sebastian Siemiatkowski, CEO and co-founder of Klarna. With Klarna’s interest-free Pay in 3 service, we provide Greek shoppers with a sustainable and convenient alternative that gives them confidence and flexibility at the checkout”

With “Pay in 3,” consumers who choose Klarna at a retail partner’s checkout are able to split their purchases into three interest-free payments paid every 30 days from the time of purchase. This way, consumers can spread the cost of their purchases evenly and receive the product before they pay the full amount. The monthly payments are simply charged to the consumer’s regular debit card.

Similarly, Greek consumers can “Pay in 3” at integrated retail partners using the Klarna App. With over 23 million monthly active users globally, the Klarna App unites a broad range of features that make the entire shopping journey easier and more enjoyable, while driving high-intent shoppers to Klarna’s retail partners. In the Klarna App, consumers can:

  • Save money by discovering attractive deals from their favorite brands and receiving price drop notifications on saved items 
  • Easily track and manage all of their past and upcoming Klarna payments 
  • Track all of their deliveries in one place and seamlessly manage their returns.
  • Understand their shopping habits with a monthly breakdown of their Klarna spending per retail category
  • Stay in control of their finances by setting a monthly shopping budget  
  • View the estimated CO2 footprint for all of their Klarna purchases to help make more environmentally conscious shopping choices. 

By providing shoppers with a superior shopping experience at checkout and in the app, Klarna serves as a growth engine to Greek retailers of all sizes and verticals. In a representative Klarna survey of 1000 Greek consumers, 95% of respondents said they find it useful to split purchases into interest free, monthly payments. Further, 76% said they would be more likely to shop at an online store if it offered that option, revealing how “Pay in 3” can drive conversion and purchase frequency. In addition to its payment services, Klarna offers its retailer partners a suite of intelligent marketing services that help attract, convert, and retain customers, including influencer marketing tools and AI-powered dynamic ads. 

Robby Bourlas, CEO of Public Group, said: “Our vision is to evolve retail and shape an entirely new customer experience by bringing together innovative platforms and services to complement the omnichannel shopping journey. Klarna’s flexible payment services and powerful marketing tools fit into this vision perfectly. As both retail partners and investors of Klarna, we can maximize our synergistic value and stay ahead of the market long-term, while offering a true omni-channel experience to our customers in Greece. The results are very promising: after the first three months of offering Klarna to our customers, we are already seeing increasing conversion rates, demonstrating the appetite for flexible payment options at the checkout. In fact, 1 out of 5 customers on public.gr that usually like to buy via debit or credit, now prefers to pay with Klarna.”

"With Public as our strategic partner - the largest and most prolific omnichannel retailer in the region - we have truly hit the ground running in Greece. Now, we aim to carry this momentum forward into the holiday season and beyond with our fast-growing network of partners. Our sights are firmly set on becoming the number one growth engine for Greek retailers by helping them adapt to new consumer demands and reach new audiences across the world,” said Elias Pitsavos, Head of Greece, Klarna.

To accelerate Klarna’s expansion in the Greek market, the company has also partnered with Athens-headquarted Viva Wallet, a leading European cloud-based neobank offering end-to-end advanced digital payments solutions and embedded banking services. Through this partnership, thousands of retailers across the EU and UK will be able to integrate Klarna’s flexible payment methods on their e-commerce websites and their POS terminals in-store.

More information about Klarna’s offering in Greece can be found at klarna.com/gr. 
The press kit with more imagery can be found here.

About Klarna

Since 2005 Klarna has been on a mission to revolutionize the retail banking industry. With over 150 million global active users and 2 million transactions per day, Klarna is meeting the changing demands of consumers by saving them time and money while helping them be informed and in control. Over 400,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, and Nike have integrated Klarna's innovative technology to deliver a seamless shopping experience online and in-store. Klarna has over 5,000 employees and is active in 45 markets. For more information, visit Klarna.com