NEWS
Klarna customers can ‘ save now , pay later ’ with new balance and cashback features
Klarna , the AI-powered global payments network and shopping assistant , has launched two new products tapping into retail banks ’ core business : everyday spending and saving .
Launched in 12 countries across Europe and the US , this marks a significant step forward in Klarna ’ s mission to disrupt retail banking and become an every-day spending partner to the world ’ s consumers .
• Klarna balance allows consumers to store money in a Klarna ‘ account ’, adding money directly from their bank account , receiving cashback rewards for shopping in the Klarna app or receiving refunds from returned items .
• Cashback rewards consumers who shop in the Klarna app . Shoppers earn a percentage of purchases at participating retailers , and the money is stored in their Klarna ‘ balance ’ account .
Sebastian Siemiatkowski , Co-founder and CEO of Klarna , said : “ Klarna owes everything to our loyal network of millions of consumers . These new products make it easier for customers to manage multiple scheduled payments , helping our customers use Klarna for more frequent purchases and driving loyalty . We are already one of the most trusted brands in financial services and we want to build on that to support all consumers with their everyday spending . [ Today ’ s ] launches are a major step forward , allowing consumers to earn money while they shop and manage it in a Klarna account .”
With cashback , consumers can earn money back on everyday purchases . The cashback percentage varies by retailer but can be as high as 10 %. Unlike specific coupons , sales or deals , cashback functions like real cash , giving consumers the flexibility to spend it wherever Klarna is available .
PayPal expands strategic partnership with Adyen to offer Fastlane in the US
PayPal has announced the strengthening of its global strategic partnership with Adyen , the global financial technology platform of choice for leading businesses . Within the expanded partnership , Adyen will offer Fastlane by PayPal to accelerate guest checkout flows for its enterprise and marketplace customers in the US , with plans to extend this offering globally in the future . Together , the companies expect Fastlane by PayPal to improve consumer shopping experiences and enhance conversion for businesses leveraging Adyen ’ s platform .
Fastlane by PayPal is a new guest checkout experience that helps shoppers convert more than 80 % of the time while reducing time to check out by 32 % compared to a traditional guest checkout . When completing their first checkout with a participating merchant , shoppers can save their card and shipping information more easily using Fastlane . This payment and shipping information can then be prefilled automatically on future purchases everywhere Fastlane by PayPal is available .
“ Adyen ’ s customer base and relationships with enterprises makes them the ideal first Fastlane payment processing partner . This strategic partnership aligns with our goal to make PayPal available everywhere customers shop globally ,” said Alex Chriss , President and CEO , PayPal . “ PayPal has evolved into a platform of choice for the world ’ s largest commerce brands , technology companies and payment processors offering seamless and connected commerce experiences to hundreds of millions of consumers and businesses .” www . intelligentfin . tech
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