The Business & Technology Network
Helping Business Interpret and Use Technology
S M T W T F S
 
 
 
 
 
1
 
2
 
3
 
4
 
5
 
6
 
7
 
8
 
9
 
 
 
 
13
 
14
 
15
 
16
 
17
 
18
 
19
 
20
 
21
 
22
 
23
 
24
 
25
 
26
 
27
 
28
 
29
 
30
 

Klarna Turns to Adyen to Expand In-Store BNPL Offering

Tags: finance new
DATE POSTED:September 26, 2024

Klarna is expanding its in-store buy now, pay later option via a partnership with Adyen.

The collaboration will bring Klarna’s installment payments on Adyen’s physical payment terminals at stores in North America, Europe and Australia, per a Thursday (Sept. 26) press release.

Klarna said Adyen is the first global payment service provider to offer its buy now, pay later (BNPL) methods on all physical payment terminals worldwide simultaneously.

“The move is a significant milestone for Klarna, which has been steadily growing its presence in physical stores in recent years, in addition to its strong online presence,” the company said.

The launch expands on a long-standing partnership between the two firms. The partnership is beginning with a pilot program before a wider rollout next month.

“We want consumers to be able to pay with Klarna at any checkout, anywhere,” Klarna Chief Commercial Officer David Sykes said in the release. “Our strong partnership with Adyen gives a massive boost to our ambition to bring flexible payments to the high street in a new way.”

Research by PYMNTS Intelligence earlier this year found merchants often struggle to provide BNPL options to their customers.

That research showed that 35% of merchants offer BNPL online during checkout, while just about half of that share do so during checkout in brick-and-mortar stores. By the same token, shoppers are twice as likely to be notified about BNPL options before checking out online as they are to be informed via signage in physical stores.

Klarna’s partnership with Adyen comes one day after the company teamed with Xero to let users of the latter firm’s small business platform offer their customers a BNPL option, letting small businesses get paid up front while their customers can pay for purchases over time.

“We know that maintaining a healthy cash flow is critical to a successful business, and offering more ways to pay supports increased business growth and getting paid faster,” Bharathi Ramavarjula, senior vice president of payments and ecosystem at Xero, said in a news release.

That report also notes PYMNTS Intelligence research showing that BNPL options are especially likely to be used by consumers living paycheck to paycheck, with 26% of this group who have trouble paying their bills saying they were very or extremely likely to use BNPL in the next 12 months. Of those living paycheck to paycheck without difficulties paying their bills, 21% said they would be very/extremely likely to turn to BNPL.

The post Klarna Turns to Adyen to Expand In-Store BNPL Offering appeared first on PYMNTS.com.

Tags: finance new