Klarna announces its official launch in Ireland
By Joy Dumasia
Klarna, the global retail bank, payments and shopping service with 90 million users globally, officially launches in Ireland today, empowering Irish consumers with a better shopping experience and greater control, transparency and choice over how they pay. Irish consumers will be able to shop online and split their purchases into three interest-free equal payments (‘Pay in 3’) through both the Klarna app and directly via integrated partner retailers.
Klarna’s launch of an interest-free and fee-free alternative to high-cost credit comes as Irish consumers shift from credit cards to debit for most of their day-to-day spending. Spending on debit cards grew three times faster than credit cards between 2015 and 2020. In the Klarna app, Irish consumers will be able to ‘Pay in 3’ at any online store, regardless of whether they are a Klarna retailer or not, thanks to the innovative ‘Shop Anywhere’ function.
Similarly, consumers who use Klarna at a partner retailer’s online checkout will be able to split their purchases interest-free. With a range of domestic and international retailers including Gym + Coffee, Perspective, Yummie, Cult Beauty, Greene’s Shoes, Luna by Lisa and Yours Clothing all teaming up with Klarna, consumers will benefit from greater control, transparency and choice over how they pay.
Klarna’s launch will help Irish merchants, both big and small, adapt to a shifting retail landscape enabling them to improve their customer experience in response to changing consumer preferences whilst accessing a much wider community of global consumers.
Sebastian Siemiatkowski, Klarna’s Co-Founder and CEO, said: “Ireland is a really exciting market for us, as people turn away from credit cards. As the older-style financial institutions exit the market, we’re here to create more competition, which is in the best interest of the consumer. At Klarna, we believe that everyone deserves a better way to shop and pay, with more control, choice and flexibility. Traditional high-cost models like credit cards are built on charging interest and late fees to the rest. That’s why we offer flexible, transparent and fair payment options without charging interest or fees.”
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