Global payments provider Klarna has collaborated with Vend to give customers of boutique retailers more flexible payment options.
The partnership hopes to allow small businesses to compete with enterprise retail and offer Klarna’s payment solutions across the UK. Later in the year, a roll out in the US will follow.
Vend is the preferred retail point-of-sale software of the British Independent Retail Association.
Luke Griffiths, UK General Manager, Klarna, said: “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. “We’re excited to continue these partnerships and bring flexible payments to more shoppers and retailers globally.”
How it works
Customers can pay with Klarna by scanning a QR code or using a payment link provided by SMS or email. Then, customers must fill out their details and select a payment option.
After that, Klarna will make a real-time decision and Vend’s ePOS system will automatically reconcile Klarna sales at the end of the day.
Higer Torchia, Managing Director, EMEA at Vend, said: “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.
“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.
Businesses using Vend and Klarna
Jake Jarvis, co-founder of Shoreditch-based sunglasses and apparel retailer, Hot Futures, said:“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 cashflow.
“Having Klarna on Vend in-store gives our work flexibility and creates a better customer experience. We’re always looking to make the customer experience better and as flexible as possible. Vend and Klarna help us do just that.”