Blackhawk Network and Klarna Partner to Offer Consumers More Flexible Payments In-store
- Wall Street ends mixed after job openings hint at cooling economy
- MongoDB delivers upbeat guidance after Q3 results beat
- U.S. job openings fall to 8.733 million in October - JOLTS report
- Hedge Funds were big sellers of Big Tech stocks last week - Morgan Stanley
- CVS Health adds 2% as 2024 revenue outlook tops estimates
Shoppers can now use Klarna at certain physical locations across Blackhawk’s US network
PLEASANTON, Calif.--(BUSINESS WIRE)-- Today, a new partnership between global branded payments provider, Blackhawk Network, and leading global retail bank, payments, and shopping service, Klarna, will extend the ability for consumers to use Klarna’s interest-free alternative payment solutions at a variety of physical retail locations. As consumers expect increased flexibility in the way they shop and pay throughout their everyday purchases, this new partnership will enable the integration into Blackhawk’s vast US network, including categories ranging from grocery to electronics, beauty, and more, by tapping into Blackhawk’s payments technology integration with major retail partners and leaders.
In-store shopping remains a dominant channel for consumers, accounting for nearly 80%1 of global retail sales in 2021. Klarna’s Shopping Pulse Report2 confirmed that grocery is one of the most frequently shopped categories in physical stores. Additionally, according to a new research report on grocery shopping in the US from Klarna, 64% of respondents said they were likely to use BNPL (Buy Now, Pay Later) on groceries if it was available, and grocery shoppers surveyed planned to spend more, shop more frequently, and purchase more gourmet items with BNPL.3 By increasing payment choice and flexibility, grocers and other retailers can boost spending and build loyalty while providing an experience that evolves alongside consumers’ habits.
“During a time of strained budgets and increasing costs, our partnership with Klarna is a significant development for retailers and grocers who are focused on meeting the needs of consumers and enabling them to shop how they want, where they want,” said Brett Narlinger, head of global commerce at Blackhawk Network. “With Buy Now, Pay Later on a major growth trajectory, the collaboration between Blackhawk and Klarna will provide innovative purchasing options for consumers and retailers.”
“While online retail is on the rise, consumers today still value the in-store experience and expect the same level of service and convenience everywhere they shop,” said Kristina Elkhazin, Head of North America, Klarna. “We are proud to partner with Blackhawk, an industry leader and pioneer, to integrate its in-store capabilities with Klarna’s in-store payment solutions to make this new commerce and shopping opportunity for retailers across all categories a reality.”
Blackhawk is accelerating the digital payments transformation with the adoption and expansion of digital wallets, mobile apps and contactless payments. To learn more about Blackhawk Network’s suite of innovative payment solutions, please visit www.blackhawknetwork.com.
About Blackhawk Network
Blackhawk Network delivers branded payment solutions through the prepaid products, technologies and network that connect brands and people. We collaborate with our partners to innovate, translating market trends in branded payments to increase reach, loyalty and revenue. We reliably execute security-minded solutions worldwide. Join us as we shape the future of global branded payments. Learn more at blackhawknetwork.com.
Since 2005 Klarna has been on a mission to revolutionize the retail banking industry. With over 150 million global active users and 2 million transactions per day, Klarna is meeting the changing demands of consumers by saving them time and money while helping them be informed and in control. Klarna is active in 45 markets with over 400,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, and Nike have integrated Klarna's innovative technology to deliver a seamless shopping experience online and in-store.
Klarna has been backed by Sequoia Capital since 2010 and more recently, Ant Group, Atomico, Bestseller Group, CPP Investments, Chrysalis Investments Limited, Commonwealth Bank of Australia, Dragoneer, HMI Capital, Mubadala Investment Company, Permira, Silver Lake, SoftBank, TCV, Visa, and funds and accounts managed by BlackRock. For more information, visit Klarna.com.
1“Estimated value of the in-store and e-commerce retail sales worldwide from 2021 and 2025,” Statista, February 2022.
2Klarna Shopping Pulse Report, March 2022.
3Klarna Consumer Report, April 2022.
Source: Blackhawk Network
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Five9 Responds to Market Rumor
- SIGMA LITHIUM FEATURED AT COP-28 FOR ITS CLEAN TECHNOLOGY, PIONEERING PRACTICES IN ENVIRONMENTAL SUSTAINABILITY AND POSITIVE SOCIAL IMPACT FOR A FOURTH YEAR
- CSG to Present at Oppenheimer’s 4th Annual Virtual 5G Summit
Create E-mail Alert Related CategoriesBusiness Wire, Press Releases
Related EntitiesSequoia Capital, Permira
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!