Swedish FinTech unicorn Klarna has signed a partnership with Vend, a retail point-of-sale software provider, to give boutique retailers’ customers more flexible payment options.
The two companies state that the collaboration gives an enterprise tool to small business retailers. This will enable the independent retailers to sell items using Klarna’s buy-now-pay-later tool.
The partnership will also empower small businesses to enjoy a flexible checkout experience that is easy to set up. Connecting to any smartphone, customers will be able to pay with Klarna by scanning a QR code or using a payment link provided by SMS or email, before filling out their details and selecting a payment option. Klarna then makes a real-time decision made in just seconds and Vend’s ePOS system will automatically reconcile Klarna sales at the end of the day.
“Consumers love to buy at independent retail shops and the ability to pay flexibly with Klarna gives shoppers more opportunity to do this, and retailers the ability to attract more customers,” said, Higor Torchia, managing director EMEA at Vend.
“Vend’s cloud-based software allows independent retailers to manage their inventory on-the-go, running reporting analytics for users that gives insight on customer loyalty and what’s selling well. Getting Klarna set up on Vend is very simple and can be done in two simple steps. It will ensure retailers can keep track of what’s been sold should customers wish to buy in the moment, but pay when more convenient.”
Luke Griffiths, UK general manager at Klarna, added, “One of the most exciting things about working in this space is the opportunity to partner with other fintech and payments services who are also seeking to revolutionise the shopping experience. Our partnership with Vend shows our commitment to supporting small businesses. Combining our flexible payments with Vend’s ePoS system offers a superior shopping experience for customers and retailers alike.
“As we grow as a business and redefine the way people pay, we’re excited to continue these partnerships and bring flexible payments to more shoppers and retailers globally.”
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