Payment processing and global retail banking platform Klarna announced on Tuesday it has launched an expanded suite of marketing products and services designed to provide retailers with even more tools to drive consumer demand, and acquire, convert, and retain customers. This announcement comes less than two weeks after Klarna expanded its open banking solution to eight more European countries. The countries are Portugal, Denmark, Luxembourg, Ireland, Croatia, Estonia, Lithuania, and Latvia.
According to Klarna, the newly enhanced suite enables retailers and publishers to offer nearly unlimited shoppable content in native formats, on their own digital properties, through the Klarna ecosystem, and across the wider internet, including social channels.
“The retail landscape has seen a massive acceleration in e-commerce adoption due to the pandemic while consumers now look for inspiration, personalized recommendations, and flexible payment options in the places they consume content. Klarna’s enhanced range of products and services can help retailers keep pace and reach the right customers without having to resource and create specialized content.”
Klarna further revealed that the retail solutions include the ability to promote pay later options throughout a customer’s shopping journey on a retailer’s own website or directly to Klarna’s 87M consumers worldwide via its owned-and-operated network, using sponsored placements, curated Wish Lists , featured articles and dedicated CRM channels. Sebastian Siemiatkowski, CEO of Klarna, added:
“The fundamentals of commerce are forever changed as more consumers forgo traditional retail store shopping for omnichannel commerce. Now more than ever it’s important for retailers to create fresh, engaging and curated experiences to drive engagement and unlock growth with customers. With the introduction of our enhanced marketing services, we can help retailers implement impactful and actionable programs to better connect with consumers across all channels.”
As previously reported, Klarna was founded in 2005 offers products and services to consumers and retailers within payments, social shopping, and personal finances. It enables consumers to make open payments quickly, easily, and securely; immediately, delayed, or in installments. The platform notably works with over 250,000 retailers including in Germany H&M, Spotify, MediaMarkt, Expedia, Nike, and Deutsche Bahn.