Fintech Firm Klarna and Global-e Extend International Partnership to Canada

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Klarna, a global retail bank, payments, and shopping service, announced its expanded partnership with cross-border e-commerce provider Global-e (Nasdaq: GLBE).

Via this partnership, merchants selling to Canada through Global-e’s cross-border e-commerce platform, “including notable brands such as Reformation, SKIMS, Fenty Beauty, Rimowa, Versace, Marc Jacobs, and Marks & Spencer, can now offer consumers Klarna’s flexible payment options.”

Kristina Elkhazin, Head of Canada, Klarna, stated:

“Consumers worldwide are demanding smarter ways to pay, and this sentiment also extends to Canada, where, according to our research, at least half of shoppers between the ages of 25 and 56 look for flexible payment options at checkout. By expanding Klarna’s successful partnership with Global-e to Canada, we look forward to providing Canadian consumers with greater choice and flexibility at checkout, while in turn, driving growth on behalf of our shared retail partners through an enhanced online shopping experience and access to our network of more than 147 million shoppers worldwide.”

Klarna‘s suite of alternative payment solutions, “including its popular interest-free ‘Pay in 4’ service, is now available to retailers selling in Canada via Global-e’s cross-border e-commerce platform.”

Global-e’s international merchant network can now “seamlessly offer Klarna across 15 core markets including Canada, the United States, France, Spain, Italy, the United Kingdom, Australia, the Netherlands, Denmark, Norway, Sweden, Finland, Germany, Belgium, and Austria, to further enhance their offering of a localized online shopping experience.”

Shahar Tamari, Co-founder, and COO at Global-e, remarked:

“We are thrilled to expand our already successful partnership with Klarna to enable merchants to provide streamlined and flexible payment options to Canadian consumers. Offering such flexibility to shoppers has proven to have a substantially positive impact on a retailer’s average order value and customer return rate. We look forward to our continued collaboration with Klarna to empower merchants in providing localized shopping solutions, including payments, to consumers in key markets across the globe.”

Global-e’s end-to-end, localized cross-border e-commerce platform “allows merchants to tailor the online shopping experience to the preferences and behaviors of shoppers in different markets to accelerate online sales and conversions.”

This includes local pricing “in more than 100 currencies, a seamless localized checkout experience supported in over 30 languages, express shipping at attractive rates including various propositions such as free shipping over a specified threshold, a transparent and easy returns process, and a guaranteed landed cost of their purchase, including pricing inclusive of all import duties and taxes, or option of prepayment at checkout, according to local market best practices.”

Since 2005, Klarna has been “on a mission to revolutionize the retail banking industry. Over 400,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, and Nike have integrated Klarna’s innovative technology to deliver a seamless shopping experience online and in-store.”

With over 5,000 employees, Klarna “is active in 45 markets and is one of the most highly-valued private fintechs globally, with a valuation of $45.6 billion. For more information, visit Klarna.com.”

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