Swedish e-commerce payments company Klarna and Nets have developed a new ‘pay later’ payment solution for use in physical stores in the Nordics.
The jointly developed platform gives users an option to pay later – fully or in part – for purchases made in-store. To complete the purchase, consumers use the Nets terminal and their own mobile device.
“The combination of Klarna’s payment solution together with the pan-Nordic distribution network of Nets brings an unrivalled value proposition to both merchants and consumers,” Klarna said in its press statement.
Klarna chief commercial officer Martin Tivéus said: “Millions of Nordic consumers use our smooth payment solutions when shopping online and we want to offer the same possibilities and experience in physical stores.”
Nets senior vice president in Sweden Patrick Höijer added: “We are always striving to create true value for both merchants and consumers. This new in-store finance solution that we first integrate with Klarna in selected pilot stores in Sweden exemplifies how payment terminals can act as a node for various services and not just to receive card payments.”
The new service will be first introduced by Klarna and Nets in selected pilot stores in Sweden.