H&M, Sephora and Timberland Among the More than 4,200 US Retailers Now Offering Klarna’s Industry-Leading Buy Now, Pay Later Services
Klarna, the leading global payments provider and shopping service, announced that it has reached a record 7.85 million US customers, driven by apparel, beauty and footwear brands partnering with Klarna to offer their customers flexible buy now, pay later options. H&M, Sephora, Timberland, The North Face, Shein, Fender, Anine Bing, FORWARD, and ModCloth are among the leading retailers that have recently launched partnerships with Klarna to provide their customers with a more convenient and seamless end-to-end shopping experience.
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Klarna has seen its number of US retail partners grow by 163% year over year as of May 2020. More than 4,200 US retailers have now been added to the company’s global base of more than 200,000 retailers. Klarna’s app has also seen significant traction and now has more than 1 million monthly active users in the US. Klarna’s app has been downloaded more than 4.4 million times, and this year alone has outpaced all of its closest competitors with more than 1.7 million downloads. The app is also ranked number one in the industry based on a combination of factors such as monthly active users, downloads and sessions per user, according to a May ranking*.
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Klarna is continually evolving its offerings and creating consumer-friendly, interactive features such as its wish list function-which allows users to create and share lists with family and friends-and its price drop function-which gives users access to daily exclusive deals and drops. Klarna app users in the US have added nearly 2.5 million items to their wish lists since the feature became available in 2019.
“Given the current situation, retailers are sharply focused on leveraging the key channel they have available-online,” said David Sykes, Head of US at Klarna. “At the same time, more shoppers than ever before are turning to e-commerce for a wide range of product categories, and they are looking to pay for things in a smarter way that lets them manage their finances without having to use credit options that come with interest, fees and revolving debt. At Klarna, we’re working closely with retailers and supporting them in attracting new customers and retaining them as retail starts to rebound.”
