Payment processing platform Klarna announced earlier this week it has formed a new partnership with point-of-sale software brand, Vend. According to Klarna, the collaboration gives customers of boutique retailers more flexible payment options in-store across the UK. The roll out will later follow in the U.S. in 2020.
“Hailed as the cornerstone of the high street, independent retail is celebrated for ‘retailtainment’ and experiential concepts that continue to draw shoppers to stores. While workshops, local events and initiatives attract loyal customers, innovative use of retail technology is key to support the success and profitability of these small businesses. The use of new, innovative tech frees up time for staff to focus on their unique, winning formulas that ensure local high streets can thrive. Vend’s collaboration with Klarna puts an enterprise tool in the hands of small business retailers, so that beloved curated ‘hard to find’ items stocked by independent retailers can now be sold using buy-now-pay-later flexibility in-store on Vend ePOS, and online.”
Speaking about the partnership, Luke Griffiths, UK General Manager at Klarna, stated:
“One of the most exciting things about working in this space is the opportunity to partner with other fintech and payments services who are also seeking to revolutionise the shopping experience. Our partnership with Vend shows our commitment to supporting small businesses. Combining our flexible payments with Vend’s ePoS system offers a superior shopping experience for customers and retailers alike. As we grow as a business and redefine the way people pay, we’re excited to continue these partnerships and bring flexible payments to more shoppers and retailers globally.”
Higor Torchia, Managing Director, EMEA at Vend, added:
“Consumers love to buy at independent retail shops, and the ability to pay flexibly with Klarna gives shoppers more opportunity to do this, and retailers the ability to attract more customers. Vend’s cloud-based software allows independent retailers to manage their inventory on-the-go, running reporting analytics for users that gives insight on customer loyalty and what’s selling well. Getting Klarna set up on Vend is very simple and can be done in two simple steps. It will ensure retailers can keep track of what’s been sold should customers wish to buy in the moment, but pay when more convenient.”