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Klarna launches payment platform in New Zealand

Stockholm-based payments provider Klarna has today launched its ‘Pay in 4’ platform to New Zealand, which allows customers to use its service at any online store – whether it is affiliated with Klarna or not.

The firm launched in Australia in early 2020, backed by the Commonwealth Bank of Australia, and is now available in over 20 countries across the globe.

In its entry into New Zealand Klarna will be supported by its relationship with CBA-owned ASB bank, and will make ASB customers able to seamlessly sign up to the new service using the Klarna app.

And, due to it’s ‘Shop Anywhere’ function shoppers can pay for goods using the Klarna App on any online site, or can do so directly through online stores that have integrated Klarna functionality, and pay the purchases off over four interest-free payments.

“We are so excited to launch in New Zealand and have a pipeline of great retailers who will be launching with us in the near future, including the Cotton On Group, Hanes Group, Kookai and a range of other big names,” said Klarna country head of New Zealand and Australia Fran Ereira.

“The response from consumers and retailers since our launch in Australia has been incredibly positive, with more than 600 retailers partnering with us and well over 750,000 consumers in just over a year, and we’re confident New Zealanders will have a similar positive reaction.”

Klarna CEO and co-founder Sebastian Siemiatkowski said the retail space is changing at a rapid pace, and consumers are looking for transparent services that better cater to their individual needs.

“We know Kiwis are sophisticated online shoppers who seek convenience but are mindful of smart spending, and are moving away from traditional forms of credit with interest and fees,” Siemiatkowski said.

And though the payments landscape in New Zealand is already littered with buy now pay layer players such as Laybuy, Zip and Afterpay, Siemiatkowski isn’t phased.

“It’s not the first time we have come into a crowded market,” he told NZHerald.

“We have done that in the US – there were a couple of players already present when we came into the market. We do benefit from having global retailers, working with one provider, [and] we do have a couple of exclusive global partnerships.”

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