Klarna recently announced Spain as the newest addition to the list of countries we’re live in. We launch by introducing our Pay in 3 (“Paga en tres plazos”) service, which allows shoppers who use Klarna to buy online and split their purchase into three equal payments with no added interest. The first major brand to go live with Klarna in Spain is Michael Kors in July with many more well-known retailers to follow shortly.
Spain, with its population of around 47 million people, is increasingly shifting its consumer behavior towards online shopping. The annual growth rate for e-commerce is expected to be 7.6% from 2020 to 2024. Last year, 7 in 10 Spaniards between 18-65 years old bought online, which represents almost 20.3 million people.
“Retail is changing at a rapid pace due to rising expectations from Spanish consumers. More than ever, consumers demand transparent and efficient shopping services that match their daily needs. We are very excited to launch in Spain and elevate the shopping experience for all Spaniards”, says Sebastian Siemiatkowski, CEO and co-founder of Klarna.
Earlier in June, we also announced our entry into Belgium with the unique payment proposition Pay in 21 days, aimed at savvy shoppers and retailers looking to elevate their shopping experience. From the outset, we’re teaming up with merchants including H&M*, A.S. Adventure and Omoda as our first step in the Belgian market. We’re looking to help even more retailers with our expertise, which has proven to help merchants increase customer conversion rates and sales, by focusing on simplifying the checkout experience for consumers.
“We believe the future of retail is high tech powering high touch experiences, so regardless of how and when consumers want to shop and pay, we need to be there for them. That’s why we focus on unique shopping solutions that allow consumers to take control and shop on their own terms”, says Sebastian Siemiatkowski.
Klarna is live in 17 core markets with more than 85 million consumers and 200,000 retail partners using our services. Where will we expand next? Keep an eye on the Extra O blog to make sure you don’t miss any updates.
*H&M customers will be able to pay in 30 days and the payment option will be made available through the H&M app.