London, UK, October 23, 2019 — Klarna, the leading global disruptor of payments and banking and provider of smoooth retail experiences, announces the expansion of its partnership with Wayfair, one of the world’s largest online destinations for home. From today, Klarna’s range of flexible payments are available to shoppers online at Wayfair.co.uk, with additional new features on Wayfair.de.
Joining Klarna’s impressive partner list, Wayfair customers across the UK now have the freedom to control how and when they pay for their purchases – from furniture, decor or lighting – with Klarna’s flexible payments options Pay later and Pay in 3. Shoppers in the UK can pay up to 30 days after delivery for their purchases or in three equal instalments, with no interest or fees, ever.
Klarna’s unique offering of payment services provides a frictionless shopping experience for consumers, making buying for the home easier and more enjoyable than ever. This extension to Wayfair’s UK market demonstrates Wayfair and Klarna’s strong collaboration and proves that flexible financing is a powerful tool for retailers.
Luke Griffiths, General Manager at Klarna UK, commented on the partnership:
“Seamless isn’t just for soft furnishings, it’s how our payments experience is designed to work for consumers and retailers. We know that 50,000 new Klarna customers are choosing ‘Pay later’ at checkout each week, while 70% of Klarna customers make repeat transactions throughout the year. By partnering with Wayfair, we’re able to create an experience that heightens customer loyalty, helping them continue their impressive global growth and demonstrating the wider value of our payment products to retailers across all markets.”
Bernie Miles, Head of Engineering at Wayfair Europe added:
“Adopting a flexible approach to payments is just one of the many ways we are delivering an exceptional experience and making it easier for our customers to shop online for their home. Our existing partnership with Klarna for Wayfair.de has added so much convenience and accessibility for our shoppers, so we are delighted to bring its flexible payments offering to Wayfair.co.uk. When it comes to building the best platform in shopping online for home, Klarna is one of our valued partners. We’re excited to continue expanding this partnership and build on our continued success in Europe.”
Klarna products now live across Wayfair Europe:
Pay later (live on Wayfair.co.uk over 30 days, and Wayfair.de over 14 days)
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 (live on Wayfair.co.uk)
Payments are scheduled automatically, with the first payment made at the point of purchase via either a debit or credit card and 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 (live on Wayfair.de with 0% interest over 12 months)
“Slice it” allows customers to spread the cost of their purchases into longer-term monthly payments. This is dependent on a full credit check.
Pay now (live on Wayfair.de)
Gives customers Klarna’s smoooth technology in the checkout process. Shoppers can buy products simply by using their email and delivery address rather than having to provide extensive log-in information and credit / debit card details.
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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.
About Wayfair
Wayfair is one of the world’s largest online destinations to shop for your home. Through technology and innovation, Wayfair makes it possible for shoppers to quickly and easily find exactly what they want from a selection of more than 14 million items across home furnishings, décor, housewares and more. Committed to delighting its customers every step of the way, Wayfair offers outstanding service from product discovery to final delivery. Wayfair’s logistics network catered for home allows fast and convenient delivery for products of all shapes and sizes.
Headquartered in Boston, Massachusetts, U.S. and with offices in Berlin, London and Galway, the company employs 14,500 people, more than 1,700 of them in Europe. Wayfair operates in the United Kingdom, Germany, Canada and the U.S. The company generated $8.0 billion in net revenue for the twelve months ended June 30, 2019 and is publicly listed on the New York Stock Exchange.