Klarna, the Swedish global payments and eCommerce platform, has introduced Google Pay for in-store purchases in the U.S.
Sephora, Journeys and rue21 are among the first Klarna merchants to offer Google Pay in addition to Apple Pay, providing flexibility, security and contactless payments to customers.
“We're focused on providing all of our users with a seamless, contactless shopping experience as stores reopen and the pandemic continues to affect communities across the nation,” said David Sykes, head of U.S. at Klarna, in a statement. “It’s critical we help our retail partners drive business growth, online and offline, to give them a competitive advantage at a time when margins are tight.”
In January, Klarna launched in-store payments for iPhone users with Apple Pay. Since then, merchants offering it have reported increases in average order value as high as 310 percent compared to orders transacted in other ways, the company said.
In June, PYMNTS reported that the FinTech firm upgraded its mobile app to provide users with the ability to access exclusive deals, create and share wish lists with friends and family, and shop anywhere online and pay in four interest-free installments.
In May, Klarna again earned the No. 1 spot in PYMNTS’ top five mobile app provider rankings for this category of mobile apps. Klarna was followed by FuturePay at No. 2. Point-of-sale lender Affirm retains the No. 3 spot, followed by Australian phenom Afterpay at No. 4. Closing out the latest top five is QuadPay.
Klarna’s offerings include more than 200,000 merchants, including H&M, IKEA, Samsung, Peloton, Abercrombie & Fitch, Nike and AliExpress. With a valuation of $5.5 billion, it’s one of the largest private FinTechs globally, the company said.
In June, Klarna reported a milestone with 7.85 million U.S. customers. The company credits the achievement, in part, to its adoption of buy now, pay later (BNPL) services to give consumers an easier way of paying for goods.