London, 18 September 2019: Klarna and Mothercare have today announced an extension of their current payments partnership, which will see Klarna’s Pay later, Pay in 3, and Slice it (0% interest) products available online and in-store across the UK.
The partnership offers a new convenience for Mothercare shoppers, as Klarna’s smooth and easy payment options are available online for the first time. Parents searching for cots, clothing or car seats, can now sleep easy — or try to — knowing they have the option to pay for items later, or in instalments.
The announcement comes as Klarna continues to grow rapidly in the UK and globally, with Mothercare joining Klarna’s impressive list of partners. The leading mother and baby specialist is also one of the first to offer the in-store solutions, which launched earlier this year.
Through flexible payments, Mothercare hopes to make its products more accessible for new and current parents, offering a peace of mind when shopping for their new arrival. Klarna’s easy payments are designed to heighten the customer experience and drive customer acquisition for Mothercare and retailers alike, as they focus on future growth and expansion.
Luke Griffiths, General Manager at Klarna UK, commented on the partnership:
“With new arrivals, parents are already being kept awake at night and we believe that finances shouldn’t be an added factor. The freedom and flexibility our products offer is perfect for new parents who don’t necessarily have the luxury of spending whenever they need to – especially when it comes to big purchases, like pushchairs. “Mothercare’s dedication to its customers is inspiring, and the introduction of our payments both online and in-store just shows their continued focus on providing the best experience for their shoppers.”
Donna Storey, Global Digital & Marketing Director added:
“From pushchairs to babygrows, sometimes little ones need things that just can’t wait until payday. We wanted to partner with a business that could help us give families more control over how and when they pay, but also make the shopping experience smoother and less stressful. Klarna was the obvious choice for us as the market leader in payments and experience. We can’t wait to see how our customers respond to the new products, knowing it will help make their lives just that little bit easier.”
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About Klarna
Klarna, the leading global disruptor of payments and banking, and provider of smoooth retail services, was founded in Sweden in 2005. Klarna currently holds a post money valuation of $5.5 billion, which ranks Klarna as the largest private fintech in Europe and one of the largest private fintechs globally. Klarna provides merchants with a flexible range of preferred payment alternatives that enable consumers to easily and securely pay when and how they want everywhere — online and in-store.
Over 170,000 merchants, including ASOS, Peloton, Swoon, Michael Kors, Superdry, Gymshark, Samsung, Topshop, Oliver Bonas and many more have enabled Klarna’s innovative shopping experience, that stretches beyond the actual transaction and also allows consumers to take control over their personal finances. Klarna has 2,500 employees and is active in 17 countries.
Klarna Products:
Pay later (Pay later will have a 30 day period for Mothercare)
Pay later is Klarna’s most popular product and allows shoppers to try before they buy. Customers have either 14 or 30 days — depending on the merchant — to pay for their goods after the item is shipped, with no interest or fees applied, ever.
Pay in 3
Payments are scheduled automatically, with the first payment made at the point of purchase via either a debit or credit card, with the final two payments being taken 30 and 60 days after purchase. As with Pay later, all purchases are interest and fee free.
Slice it (Slice it will have a 0% interest rate over 12 month period for Mothercare)
“Slice it” allows customers to spread the cost of their purchases into longer-term monthly payments. This is dependent on a full credit check.
About Mothercare
Mothercare is the leading global specialist retailer for parents and young children. With more than 1000 stores in over 50 countries, Mothercare provides parents and parents-to-be with everything they need in one place, offering the best quality and most innovative products, from pregnancy to 8 years.