Klarna and Simon Property Group Team on National BNPL Initiative

Klarna

Buy now, pay later (BNPL) platform Klarna and Simon Property Group on Wednesday (Oct. 6) announced a national alliance and multi-year partnership that gives Simon shoppers access to Klarna’s in-store payment solutions that allow them to pay for their purchases in future installments.

Simon shoppers now join millions of others who use Klarna every month to pay for items when they can rather than right away if they need a little more time to come up with the cash. Klarna and Simon also plan to roll out other initiatives as part of the deal, according to the announcement.

“Identifying ways that support the success of our merchants while elevating the customer shopping experience are key priorities for Simon,” Simon Property Group Chairman, CEO and President David Simon said in the press release announcing the partnership.

“By aligning with Klarna, we’re giving our retail tenants an important advantage this holiday season and well into the future: a unique way to attract new audiences already embracing the convenience that Klarna’s interest-free payment options provide,” he said.

Klarna CEO Sebastian Siemiatkowski said the collaboration will “further unlock in-store revenue and loyalty for retailers and offer customers even more ways to shop and pay how they want,” as retail traffic returns.

“Simon connects millions of consumers with merchants in truly meaningful and engaging ways that are reimagining experiences far beyond the expected, every day,” he said in the announcement.

Klarna’s flexible payment plans will be offered to shoppers at participating Simon-based merchants and Klarna will help Simon brands improve their digital marketing, in-mall activations and communications.

Related: BNPL Firm Klarna Teams With Vivid Seats to Offer Installment Payments for Live Events

Klarna recently teamed with online ticket reseller Vivid Seats to allow ticket buyers to make four interest-free installment payments on live concerts, sporting and entertainment events starting later this year.

Also read: Simon Property CEO Says ‘The Mall Is Safe’ Amid Rising Concerns Over Delta Variant

In August, Simon said it’s likely that consumers are “just going to deal with” the delta variant of the coronavirus, and he was hoping lockdowns would not be mandated.

“Let us do our business,” he said. “Mask up if you need to. The mall is safe.”