FinTech Klarna launches in Spain with ‘Pay in 3’ solution

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Stockholm-based payments provider, Klarna has announced its launch in Spain with its’ Pay in 3’ solution. Customers using Klarna at a retailer’s checkout will be allowed to buy online and divide their purchase into three equal payments with no added interest. Klarna will also roll out its app for allowing users to keep track of their payments and pay off existing payments. The company has stated that it will go live with Michael Kors by next month along with other brand partnerships.

“Retail is changing at a rapid pace due to rising expectations from Spanish consumers. More than ever, consumers demand transparent and efficient shopping services that match their daily needs. We believe the future of retail is high tech powering high touch experiences, so regardless of how and when consumers want to shop and pay, we need to be there for them. That’s why we focus on unique shopping solutions that allow consumers to take control and shop on their own terms. We are very excited to launch in Spain today and elevate the shopping experience for all Spaniards,” says Sebastian Siemiatkowski, CEO and co-founder of Klarna.

Recently, Klarna announced its official launch in Belgium with the introduction of “Pay in 21 days”. The launch is fueled by Klarna’s partnership with H&M (Pay in 30 days), A.S. Adventure and Omoda and will allow shoppers to buy online and pay once they have received the goods. It also entered into a collaboration with Raisin in Germany. The development marked Klarna’s expansion into the German savings market.

“A common problem merchants are facing is to offer a seamless online shopping process. Consumers find something they’d like to purchase online but end up abandoning it due to long or complex checkout processes, extra fees or the lack of willingness to pay online for something that may not end up being delivered or not look as expected. This is why we’re so excited to bring our shopping solutions to Spain and open an office in Madrid. We’re absolutely focused on helping merchants make the most of the growth in e-commerce and build loyal and satisfied customers in the long term,” says Daniel Espejo, Country Manager Spain at Klarna.