Swedish buy now, pay later (BNPL) company Klarna has expanded its “Pay in 30 days” option to Poland as part of a collaboration with clothing retailer H&M and in conjunction with the Klarna app, the company announced on Wednesday (Aug. 18) in a press release. The company said it expects to offer the payment option to other Poland retailers soon.
Klarna will build its presence in Poland with a local team and office in Warsaw, while bolstering its European offices in Germany, the U.K., the Nordics, the Netherlands, Belgium, Spain and Italy.
With the Pay in 30 option, customers can buy items and make interest-free payments. The Klarna app allows shoppers to manage their Klarna payments with participating retailers.
The debut in Poland coincides with a skyrocketing demand for eCommerce globally. According to a Klarna-commissioned survey of 1,074 respondents ages 18 to 65, 96 percent have made an online purchase in 2021, with one-third buying weekly. Roughly one-third said they would have used the pay later option for their purchases if it was offered. Close to 70 percent of those polled said they would trust a merchant more if a pay later option was available.
“Shopping at H&M should be convenient, relevant and inspiring, and we are happy to now offer fashion fans in Poland a convenient way of paying for their fashion finds,” said Mehmet Arisoy, H&M country manager in Poland. “Through the partnership with Klarna, we have developed an H&M payment solution that offers our fans a truly modern shopping experience no matter where or how they choose to shop.”
The collaboration with H&M comes on the heels of Klarna’s recently launched partnership with YOOX NET-A-PORTER an online luxury and fashion brand. According to PYMNTS, that arrangement allows customers to pay for fashion goods in three or four installments.
Read next: BNPL Firm Klarna Partners With YOOX NET-A-PORTER
Earlier this month, Klarna announced a similar partnership with pet supply chain Petco, which allows customers to pay off their purchases in four interest-free installments.
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