
KLARNA Invoice NETS Publisert: 2017.12.05 04:50:10
Klarna and Nets introduces new “pay later” payment solution for physical stores
Klarna and Nets have jointly developed a new payment solution for use in physical stores in the Nordics, beginning with selected pilot stores in Sweden. The new innovative solution gives the consumers a quick and simple option to pay later in-store.
The jointly developed innovative payment solution gives consumers a
quick and simple option to pay for the purchase later – fully or in part – when
shopping in physical stores. Consumers simply use the Nets terminal and their
own mobile phone to complete the transaction.
There is strong consumer demand for financing when shopping online but until
now is rarely used in-store due to complex and awkward processes. This new
solution by Nets and Klarna will now give consumers the same flexibility and
convenience to ‘pay later’ in-store as they currently experience online. 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.
“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”, says Martin Tivéus, Chief Commercial Officer at Klarna.
In-store consumer financing from minutes to seconds
The new service is easy to seamlessly integrate in existing Nets
terminals and will help merchants to increase turnover with a “pay later”
option for consumers. Merchants will see clear benefits such as an increased
amount of completed purchases and potentially increase the average order value.
It requires no additional processes and zero interaction with the in-store
staff, making it significantly smoother.
“We are always striving to create true value for both merchants and consumers”,
says Patrick Höijer, Senior Vice President at Nets in Sweden. ”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.”
Current over-the-counter in-store financing solutions involve complex manual
procedures with an average time of six minutes and more than ten steps to
complete the purchase. For consumers it causes stress, like answering
challenging questions about income and family status.
The new service from Nets and Klarna is on par with the experience of when
paying with a payment card in a store, enabling the average purchase to be
completed in less than one minute. It also ensures privacy for the consumer and
is without any administration for the merchants. Klarna’s innovative in-store
promotions of the service will also help to drive additional purchase
conversions.
Step by step how the new payment solution works:
- The product is scanned in
the cash register in the store.
- The customer is given the
option to select “pay later by invoice” in the Nets terminal.
- If chosen, the customer
enters the mobile phone number in the terminal.
There is no need for an app or registration to use the solution.
- The customer approves the
purchase through a received SMS link and is then automatically forwarded
to the Klarna checkout page.
- The customer accepts by
clicking the “complete purchase” button on the mobile phone.
The new service is first introduced by Klarna and Nets in selected pilot stores
in Sweden. Even though this joint solution is first to market, both Klarna and
Nets are free to cooperate with other payment providers and credit providers.
Source: KLARNA
Baard Persson Vaage