Klarna deploys point-of-sale solutions in the United States
Swedish fintech Klarna, pioneer of the BNPL, recently announced a partnership with Clover, a subsidiary of Fiserv specialized in POS solutions. This collaboration aims to integrate Klarna's split payment into physical stores via Clover's solutions. Through this initiative, Klarna seeks to build new growth relays, while consolidating its position before a stock exchange launch in the near future.
FACTS
The Swedish Unicorn of the BNPL announced last week a partnership with Clover, a subsidiary of Fiserv specializing in point-of-sale acceptance solutions.
The goal is simple: deploy the split payment from Klarna for physical payments in stores thanks to Clover's solutions.
With this offer, the partners are aimed in particular at small traders who do not have access to financing solutions that large retailers offer to their customers. They will therefore be able to benefit from the split payment directly via Clover's solutions.
In concrete terms, individuals will see a Klarna logo on Clover equipment from their traders. This will indicate that they can benefit from fintech payment facilities.
Klarna hopes to minimize its costs of acquiring new customers by addressing its online users. The objective is that they can use the LNP regardless of the purchase channel.
ISSUES
A well-established strategy to counter attacks: It is quite logical that Klarna announces its deployment to the outlets. After a complicated financial period, fintech now needs to find new growth relays. The split payment is currently in the sights of several regulators such as the European Union, the United Kingdom and France. The latter criticize the laxity and lack of barriers imposed on users to access split payments, which would tend to increase household over-indebtedness and their ability to repay. Klarna therefore tries to strengthen the resilience of its model, increasing its area of activity.
Convince investors: Launched a few weeks ago in a procedure (which has once again been delayed), fintech also wants to show potential investors its ability to grow and create value. By making himself available in stores, Klarna increases its potential income and therefore its chances of attracting investors. Finally, this announcement is a way to show the market that, despite its size, fintech retains its ability to innovate and react quickly to potential pitfalls.
PERSPECTIVE
Clover and Klarna do not intend to stay at this stage and are already planning to expand their partnership. According to the news release, it could eventually include online payments and geographic expansion.
In parallel with this rapprochement with Clover, a few weeks ago, Klarna announced the signing of a Large contract with Walmart, the American distribution giant. Swedish fintech is now the exclusive provider of split financing and payment solutions for Walmart customers, both online and in-store.
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