Klarna, the AI-powered global payments network and shopping assistant, has today announced the launch of its flexible payment options on boots.com and in the Boots app in the UK and Ireland.
This latest announcement follows the launch of Klarna in-store at Boots in 2022.
Through Klarna, customers can now benefit “from Klarna’s renowned smooth payments experience, giving them the flexibility to pay for their health and beauty products instantly in full, within 30 days, or split the cost of their purchase over three interest-free instalments.”
Shoppers will also be able to track their order “from checkout to their front door in the Klarna app.”
Raji Behal, Head of Western and Southern Europe at Klarna, says:
“We’re excited to bring Klarna’s flexible payment options to boots.com and the Boots app following the in-store launch, offering shoppers the freedom to manage their purchases, from everyday essentials to special treats like cosmetics and curlers.”
As clarified in the update, Klarna payment methods are “not available on certain products including prescription goods or online doctor services.”
In another recent update, it was noted that Klarna has begun to roll out open banking-powered settlements in the UK.
The launch means consumers can now pay Klarna directly “from their bank account instead of using a debit card, bypassing card networks and marking a major milestone in Klarna’s ambition to build a payments network of the future.”
Klarna has already launched open banking settlements “for its Pay Now instant payment option, and Pay in 30 and Pay in 3 scheduled for later in 2024.”
The launch to Klarna’s 18 million UK customers “gives open banking a significant boost in the UK, where approximately 5m Brits use open banking payments each month.”
For consumers, open banking settlements “are simple, secure, and instant, with no need to enter payment details into an unknown retailer’s website. To make the payment, a consumer clicks on ‘Pay by bank’ which takes them to their mobile banking app where they complete the payment quickly and securely.”
A consumer who links their bank account to Klarna can “get insights into all their spending within the Klarna app and access additional budgeting tools. Plus, sharing bank data can help Klarna lend money more wisely, using the consumer’s real spending habits, to ensure that Klarna’s lending decisions are an exact fit with the consumer’s budget.”
Wilko Klaassen, VP, Open Banking at Klarna, said:
“Open banking offers a huge opportunity for Klarna to reduce the cost of payments to society by cutting out the established card payment networks, and using up-to-date bank account data to make ever better lending decisions. This new launch builds on the success we have seen in 10 countries across Europe and will give UK open banking a major boost.”
Outside the UK, Pay Now by bank is already live in 10 countries around the world and is regularly used by over 20 million consumers each month.