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Are you a retailer working with Close Brothers Retail Finance?

Klarna has purchased the assets of Close Brothers Retail Finance, which includes its people, systems, vendor relationships and products.  You will continue to enjoy all your existing benefits and capabilities whilst opening the door to a world of possibilities with Klarna.

If you have any additional questions regarding your relationship with Close Brothers Retail Finance, please visit our ‘frequently asked questions’ page here or contact your existing Relationship Manager.

Merchant FAQ’s

Who are Klarna?

Klarna is Europe’s leading payments provider and a newly-licensed bank, which wants to revolutionise 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 smooth checkout experience.

Klarna now works with 100,000 merchants, including ASOS, Topshop and JD Sports in the UK, to offer payment solutions to users across Europe and North America. Klarna has 2,000 employees and is active in 14 countries.

 

What does this acquisition mean for you?

As part of the acquisition, Klarna has purchased the assets of Close Brothers Retail Finance, which includes its people, systems, vendor relationships and products.

Rest assured, you will continue to enjoy all the benefits of our award-winning retail finance proposition, expert team and capabilities whilst opening the door to a new world of possibilities with Klarna.

 

Will my contract be affected?

Contracts with all existing merchants will be migrated across to Klarna, you are not required to re-sign your Retailer Operating Agreement (ROA) and there are no changes to the terms and conditions of your existing agreement with Close Brothers Retail Finance.

 

Will I still work with the Close Brothers Retail Finance team?

The Close Brothers Retail Finance business will be rebranded to Klarna, however, you’ll continue to be served by the same team and enjoy our multi award-winning proposition.  Ultimately, this acquisition will amplify the products and services we are able to offer you, and we will be in-touch to let you know about enhancements to our proposition over the coming months.

 

What changes do I need to make to my system?

You will not be required to make any immediate changes to your system as part of the transition however you will be required to make some changes to your PoS Marketing materials.

 

What changes will I need to make to my PoS material?

As part of the acquisition, the legal entity providing your customers with retail finance loans will be Klarna Bank AB. As such, existing PoS materials that mentioned Close Brother Retail Finance will need updating to show the new finance provider.

Examples of items that will require changing include:

  •   Website (landing page, logos)
  •   PoS material where the lender is mentioned

We will be providing you with a checklist via email now that the acquisition is complete, this will include logos and wording for items that require updating.

 

Who should I contact if I have questions?

If you have any questions regarding this announcement please contact your Relationship Manager or email cbrfcentral@closebrothers.com or call 0333 005 0472.