Klarna, the installment-payment specialist, has released an app that enables consumers to shop a variety of merchants and pay with Klarna without leaving the app.
Announced Tuesday, the Klarna app presents the retailer’s site with a footer containing a Pay with Klarna button. When selecting that option, the shopper can pay for purchases in four equal installments with no interest or fees. The app is open to any merchant, not just those already affiliated with Klarna, the company says. These could include retailers without an alternative-payment option or that use a competitor’s program.
Installment payments are made with a credit or debit card, though Klarna says it expects most consumers to use a debit card. The first payment is due immediately and the other three are collected every two weeks.
Other app features include price-drop notifications, the ability to create a wishlist, and editorial content related to fashion, beauty, and lifestyle shopping.
“The demand for personalized shopping and ease of transactions are no longer trends in retail—they are now requirements,” Michael Rouse, Klarna chief commercial officer, said in a statement. “Streamlining the digital-shopping experience, from product searches to point of sale, allows consumers to not only take control of their purchases and on their terms—it also enables diverse, curated styles.”
Going direct to consumer is not new to Klarna. “While we have a very strong base of 130,000 merchants, Klarna has been increasingly B2C in many markets in Europe already for some time, both with our own app which wide range of features and issuing of physical cards etc.,” a Klarna spokesperson says in an email. “The shopping feature is part of this and is now launched to give U.S. consumers freedom and flexibility to shop directly where they want on their own terms.”