Boutique Marketplace Jane To Offer BNPL With Klarna

Boutique marketplace Jane announced Thursday (March 18) that it now offers Klarna’s buy now, pay later (BNPL) solutions at the point of sale.

Shoppers will be able to pay for their purchases from small boutiques and big brands on the marketplace in four interest-free installment payments.

“With Klarna, we now offer our value-conscious consumers greater financial control and a budget-friendly way to enhance their shopping experience,” Jane CEO Taleeb Noormohamed said in the press release.

Klarna offers its BNPL option at over 250,000 retailers around the world. PYMNTS reported recently that installment payment plans are helping merchants bounce back from the global pandemic, as they help sellers tap into digital consumers — and younger shoppers — seeking financial flexibility.

In a recent Buy Now, Pay Later Tracker, PYMNTS found that Generation Z’s use of BNPL has increased 201 percent year over year.

“Some observers in the space suggest that young shoppers may use BNPL as an intermediary tool for when they need to move beyond the spending limits of debit cards but do not yet qualify for credit cards. Other consumers may simply prefer BNPL plans to credit cards,” PYMNTS found.

Jane will also be giving out weekly prizes, worth $50 in Jane credit, to customers who use Klarna at checkout, from now until Mother’s Day, the press release noted.

Jane offers a curated experience to its over 1.5 million active users, presenting the story of the products, so consumers can feel clear and confident about what they’re buying, and so the boutiques can connect their quality products “to as many customers as they can,” Noormohamed told PYMNTS in a recent conversation.

Jane’s mission is to keep those smaller stores from getting lost “in the wave of big marketplaces taking all the oxygen in the room,” he said.