Klarna, the leading global payments and shopping service, announces a strategic partnership with Verifone, a global leader in payments and commerce solutions, that will make Klarna available as the first-ever buy now pay later solution to millions of Verifone devices in the US and Europe.
The integration to Verifone’s Cloud Services platform empowers consumers to leverage Klarna’s payment suite including ‘Interest-free payments’, ‘Pay later in 30 days’ with no interest and ‘Financing’ in store. Together, Klarna and Verifone enable retailers to create a personalized and smoother experience for their customers, ultimately unlocking growth, boosting conversion rates and driving customer satisfaction and loyalty.
The ongoing pandemic has impacted shopping behaviors worldwide and the use of contactless payments in stores has increased rapidly according to a recent McKinsey report as consumers aim to avoid physical contact in order to stay healthy. Using Klarna in store is easy for consumers and they can complete their purchases securely in a few simple steps on their smartphones: At checkout, the consumer will select Klarna as the payment option on the screen of the Verifone device, scan a QR code, and then verify their ID.
Luke Griffiths, Chief Commercial Officer of Klarna: “The last few months have seen unprecedented challenges for physical retail. We truly believe that there is a role for the physical store within the future retail brand experience, and now more than ever consumers desire flexibility, transparency and a more convenient payment experience. We are excited to partner with Verifone as one of the largest and most impactful players in the in store space, and also being the first buy now, pay later provider on millions of devices. Together we will support retailers globally in creating a superior and more seamless shopping experience for consumers in store.”
Jeremy Belostock, Head of Alternative Payments, Verifone: “Enabling alternative payment methods in store is truly exciting, and it’s only possible in such a seamless manner through the Verifone Cloud Services platform we’ve created over the past few years. Klarna is particularly interesting and unique in that merchants will have access to new, larger revenue opportunities through its flexible payment options, and Klarna comes with simple settlement functionality for the merchant. We’ve removed the complexity for merchants. Retailers of all sizes have seen massive success with Klarna online, and with Verifone, they’ll see the same success in store.”
