Klarna offers its BNPL exclusive offer to Walmart customers

The Swedish BNPL giant Klarna expands its web internationally and has recently signed a major partnership in the United States to enable it to establish its ambitions. Klarna has just moved closer to the American distribution giant, Walmart, to become the exclusive provider of split payment services to its end customers.

FACTS

• The new development of Klarna's activities takes the form of the signing of a new partnership with OnePay, the Wallet of financial services integrated into Walmart's physical and digital purchasing channels. In particular, he supports Walmart's CashBack program.

• The signing of this new partnership will now allow Klarna to provide its phased loans and payment options in several times to Walmart customers in the United States.

• The latter will be able to finance the purchase of thousands of products sold online and in-store with repayment plans ranging from 3 to 36 months offered by Klarna but managed via the OnePay app.

• Millions of customers and some 1.6 million Wallmart employees are involved.

ISSUES

• Strengthening its position on the US market : In 2015, Klarna announced its launch in the United States. Its positioning across the Atlantic has not been without darkness. In particular, Fintech had to make substantial financial efforts partly responsible for its record losses to win. It was in 2021 that Klarna submitted first positive results in this high-potential market, before recording a growth of its record volume of transactions in 2022. The United States has since become the first market for Klarna's international activity in terms of users (with 37 million customers in 2023 in the country).

• Fight against competition : The signing of this new partnership also allows Klarna to replace Affirm, a provider of this type of service for the American distribution giant since 2019, as a BNPL service provider to Walmart. The loss of this contract resulted in a fall of more than 11% in Affirm's shares.

PERSPECTIVE

• Klarna's news is decidedly particularly rich in recent months. The Swedish BNPL giant accelerate on the subject of its introduction into the United States since last November and just from there Realize his ambitions. The United States remains its favourite ground, and a new partnership signed Google Pay allows it to continue its expansion.

• At the same time, it is in Europe that Klarna has also extended a partnership with Nexi to optimize payment services to traders. And internationally, Klarna is prepare and also to integrate cryptocurrency to cover the payment market more broadly.

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