FreedomPay, a leading consumer-centric commerce platform, today announced an integration with Klarna, the leading global retail bank, payments and shopping service. Starting today, FreedomPay’s US merchants can offer Klarna’s flexible, interest-free payment solutions at checkout in-store, maximizing sales and bringing added ease and convenience to shoppers across America ahead of the most anticipated shopping season yet.
“In today’s retail environment, and as shoppers head in-store, point of sale is much more than a transaction—it’s a critical piece of the consumer shopping experience,” said Chris Kronenthal, President, FreedomPay. “Together, Klarna and FreedomPay are enabling retailers to create this next-level in-store shopping experience by bringing even greater variety, flexibility and functionality to payments and checkout options—just in time for the holidays.”
Consumers have grown accustomed to the convenience and ease of the online experience, and expect the same in-store. Shoppers also overwhelmingly prefer having a choice of payment options at checkout. Klarna’s recent 2021 Reopening Report confirmed that nearly three out of four (74%) shoppers now seek out flexible payment options when shopping in-store and online.
“As we head into the retail industry’s most critical sales period yet, we know there is clear demand for flexible payment solutions like Klarna’s interest-free Pay in 4 service,” said David Sykes, Head of North America, Klarna.
“Through our partnership with FreedomPay we’re further enhancing the omni-channel shopping and checkout experience for retailers, enabling them to meet evolving interests and needs of US shoppers this holiday season and beyond, while reaping significant benefits at the same time. Klarna’s brand partners see average order values jump by 20-80% and conversions climb by 20%, on average.”
With US holiday retail sales expected to reach $1.093 trillion, Klarna is uniquely positioned to meet the continued accelerated demand, both online and in-store, giving brick-and-mortar customers the ability to make purchases using four, interest-free payments while enjoying the same level of service and convenience they would when shopping online. Klarna’s payment options are the latest addition to FreedomPay’s Commerce platform, which offers many robust solutions for retailers across payments, security, identity, and data analytics that are available in-store, online and on mobile.
Upon implementing the new Klarna and FreedomPay solution, shoppers can check out with Klarna simply by downloading the Klarna app and performing a one-time registration to generate their unique in-store QR code. The payment can then be made with a simple scan by a store associate, for a secure and contactless payment.
The FreedomPay and Klarna partnership is kicking off in the US with plans to expand globally in the coming months. Learn more about what Klarna and FreedomPay can do for your business, here.
We make shopping smooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna’s offering to consumers and retailers include payments, social shopping and personal finances. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna’s innovative shopping experience online and in-store. Klarna is one of the most highly valued private fintechs globally with a valuation of $45.6 billion. Klarna was founded in 2005, has over 4,000 employees and is active in 17 countries. For more information, visit klarna.com.
The FreedomPay Commerce Platform is the technology of choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services. FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce and partners with over 600+ of the industry’s most innovative software providers. The company maintains a world-class security environment and was first to earn the coveted validation by the PCI Security Standards Council against Point-to-Point Encryption (P2PE/EMV) standard in North America. FreedomPay’s robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack and is available in more than 133+ countries across 5 continents allowing enterprises to deliver a consistent, repeatable experience on a global scale. www.freedompay.com.