Are you a Merchant offering Klarna Loan Agreements?
Following the acquisition of Close Brothers Retail Finance by Klarna Bank AB (publ), we are rebranding to Klarna.
This page addresses the questions frequently asked by Merchants offering a Klarna Loan Agreement (Fixed Sum Credit Agreement). If you have additional questions that are not answered by the FAQs, please contact your existing Relationship Manager.
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 being a Klarna Merchant mean?
Klarna purchased the assets of Close Brothers Retail Finance, which includes its people, systems, vendor relationships and products. The rebrand is due to complete June 2019.
Rest assured, you can now enjoy all the benefits of Klarna’s award-winning consumer finance proposition, expert team and capabilities.
How will my contract be affected?
Contracts with all existing merchants have been migrated across to Klarna. There is no further action required by you.
What changes will I need to make to my PoS material?
The legal entity providing your customers with retail finance loans will be Klarna Bank AB (publ). 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 have provided you with a checklist via email which included logos and wording for items that require updating.
Who should I contact if I have questions?