Klarna secures another partnership in bid for retail domination

By

Barbara Santamaria

Published
Mar 13, 2020

Klarna is on a roll. Since the start of 2020, the Swedish buy now, pay later company has secured the backing of China's Ant Financial Services Group, launched its services in Australia and partnered with Vend. Now Klarna is adding Wirecard to its list of achievements, announcing a new partnership to reach even more merchants.

The Swedish fintech bank has launched a joint payment solution with Wirecard that allows merchants in nine countries to offer Klarna’s services as a payment option.

All three Klarna shopping methods, including Buy Now, Pay Later and Klarna Financing can be embedded into merchants’ checkouts via a single integration through the Wirecard digital financial commerce platform.

The integrated service is now available in Sweden, Norway, Finland, Denmark, Switzerland, Germany, Austria, Netherland and the UK, with more regions launching throughout the year including the US and Australia.

“We are proud to team up with Wirecard to combine the best of our offerings into a single solution,” said Luke Griffiths, commercial vice-president at Klarna. “Our joint partnership will enhance both the merchant and end-customer experiences, while expanding our footprint to more geographies. We are looking forward to launching this attractive solution on a global scale.”

“Shoppers seek, above all, a frictionless shopping journey,” added Kilian Thalhammer, executive vice-president product management at Wirecard. “Together with Klarna, we will give shoppers exactly that: a hassle-free shopping experience, on their terms. Merchants will also benefit from a more streamlined and efficient integration – meaning that merchants and shoppers are that much closer to their ideal checkout experience.”

Klarna, which is valued at $5.5 billion (£4.3 billion), enables shoppers to buy online without paying instantly for their orders. Depending on the service used, consumers are then offered 14 or 30 days to settle their payments.