Swedish buy now pay later (BNPL) juggernaut Klarna has launched its Comparison Shopping Service (CSS) in 21 markets across Europe.
According to the company, Klarna CSS provides its partners across Europe with a bolstered customer reach and budget savings to help boost their return on advertising spend as well as driving traffic from high shopping-intent consumers.
The comparison shopping page will also provide brands with new opportunities to reach browsing consumers with their products.
Klarna highlighted that the CSS program was developed by Google to diversify the search results for Product Listing Ads (PLA). A CSS partner is able to facilitate the publication of a PLA on Google and is then the link between the advertiser and Google.
Klarna CSS provides PLA hosting for a small flat monthly fee, with the company claiming that retailers can save up to 20% on their cost per click by switching to Klarna CSS, due to avoiding a fee charged by Google CSS.
The company will also list a retailer’s product listing inventory on its comparison shopping web pages to boost retailer product visibility as well as customer reach.
The new service is available in Austria, Belgium, Denmark, Czech Republic, Finland, Denmark, Greece, Germany, Hungary, Italy, Ireland, Norway, Netherlands, Portugal, Poland, Romania, Spain, Slovakia, Switzerland, Sweden and the United Kingdom.
Klarna CMO David Sandström said, “We are extremely excited to launch the Klarna Comparison Shopping Service today. With this new product, we enable retailers to list their Google Product Listings Ads more efficiently.
“Concretely, this means that we offer retailers a more effective and cheaper way to increase their customer reach and convert highly relevant traffic from consumers who are searching for products they want to purchase, thereby maximizing merchants’ return on advertising spend. As a growth partner for our retailers, we are thrilled to be launching even more products and services to support their strategy in the near future.”
Klarna recently became the second biggest FinTech startup by valuation after it raised more than $639m in a new private fundraising round led by Japan’s SoftBank. This raised Klarna’s overall valuation to almost $46bn.
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