Great News, UK Retailers: Klarna’s ‘Buy Now Pay Later’ is Now Available In-Store!

Team Vend is thrilled to announce that bricks-and-mortar stores in the UK can now offer ‘buy now pay later’ thanks to our partnership with Klarna!

As Europe’s #1 ‘buy now, pay later’ provider, Klarna provides a payment option that lets merchants offer convenient installment plans at checkout with zero risk. The company serves 170,000+ merchants globally, and more than 60 million shoppers are using Klarna for their online purchases. 

Klarna has been a game-changer for many online retailers, and it’s helped ecommerce stores boost basket size at checkout by up to 68%.

And now brick-and-mortar retailers can get in on the fun. 

Vend + Klarna has arrived

Vend now integrates seamlessly with Klarna, so UK retailers can start offering ‘buy now pay later’ in-store. Your shoppers who want an alternative payment method now have the option to use Klarna at checkout, so they can take home a product immediately and pay for it in 3 installments interest-free. 

As a retailer, you’ll enjoy several benefits, including:

Higher sales – Not only does Klarna increase conversions, ‘pay later’ shoppers also tend to buy more. Retailers typically see a 68% increase in basket size with Klarna, and those who opt for the service spend 10 and 20 percent more than credit card customers.

Increased repeat business – This integration helps you tap into Klarna’s customer base of 3 million+ UK customers. Even better, these shoppers tend to buy more often; Klarna has seen a 20% increase in purchase frequency from ‘pay later’ customers. 

Reduced risk – Get paid in full immediately. You’ll receive the funds for shoppers’ purchases upfront, and Klarna will take on all the credit risk.

A better checkout experience – Impress your customers by providing a smooth checkout experience. Just enter or scan your customer’s unique barcode from their Klarna app directly into Vend and the sale is done! 

Why shoppers love Klarna

Klarna has plenty of benefits for your customers, too! Shoppers using Klarna will enjoy instant gratification because they receive their goods immediately, whilst paying for a fraction of the cost upfront.

Payments are interest-free, so your customers won’t have to worry about incurring additional costs as long as they pay on time. 

Speaking of which, paying for their purchases is easy and convenient. Once customers create a Klarna account, the funds will automatically be deducted from their credit card or bank account, so there’s no need to manually initiate the payment. (Klarna will give customers a heads up via SMS before withdrawing funds.)

Klarna in action

“Independent eyewear retailer Hot Futures are one of the first retailers in the UK to start using the Klarna + Vend integration. 

Co-owner and co-founder Jake Jarvis was delighted with how super simple it was to set up, calling it “lightning quick” and was really impressed with how seamless the integration is. 

Jake added, “Klarna is a great additional offering for our customers. Breaking down the payment of slightly larger investments over three payments is an attractive proposition and something our customers appreciate us being able to do. It means our customers can make decisions based on their personal cash flow.”

Getting started with Vend + Klarna

Part of staying relevant in today’s competitive retail landscape means giving your customers the freedom to buy from you in the easiest and most cost-effective way possible. Vend + Klarna let’s do just that.

Do your business — and your customers — a favour, and check out how Vend + Klarna can help you increase sales and serve shoppers better in 2020 and beyond.