Klarna to provide buy now, pay later payment service access to GameStop

By Pavithra R

Klarna, a global payments and shopping platform provider, has announced entering into an agreement with GameStop, a family of specialty retail brands and a global retailer of multichannel video game, pop culture collectibles, consumer electronics and wireless services, to provide the retailer with access to its flexible, secure and interest-free buy now, pay later (BNPL) payment service.

Data collected from the Klarna app indicates an increase in spending across demographics within the consumer electronics and gaming category throughout the pandemic. In March, video game brands saw a 117% increase in spending compared to the previous month.

“The esports business has grown tremendously in recent years with the rise of streaming services and other technologies tailored to this space. Recognizing the continued growth of the gaming community and its increasing influence in mainstream culture, we’re thrilled to introduce Klarna’s flexible payment options to GameStop customers as well as connect with them in a unique and meaningful way through our Playing for Keeps campaign. We also aim to drive new traffic from our nine million shoppers to GameStop, whether they prefer to shop in-store or online,” said David Sykes, Head of U.S. at Klarna.

The new service is available at GameStop’s more than 3,300 U.S. retail stores, online and the GameStop mobile app. GameStop will also be featured in Klarna’s immersive, gaming event series ‘Playing for Keeps’.

“Today’s announcement represents one of the many steps we are taking to better serve our customers. Partnering with Klarna is part of GameStop’s strategy in continuing to build out the capabilities and services of our global digital and in-store ecosystem to offer customers a broad spectrum of payment options to quickly and affordably purchase the video game and pop culture merchandise they are looking for this holiday season and beyond,” said Chris Homeister, chief merchandising officer for GameStop.

Founded in 2005, Klarna is a Swedish bank that provides online financial services such as payment solutions for online storefronts, direct payments, post-purchase payments, and more. It’s offering to consumers and retailers includes payments, social shopping, and personal finances.