Klarna launches one-stop shopping app

Klarna, known for its ‘buy now, pay later’ solution launches a new one-stop shopping app today. Shoppers can place orders, see special offers, receive alerts on price reductions, manage payments and track deliveries within the app. All online stores are visible in the app, even if they’re not working with Klarna.

The Swedish fintech company has been expanding its services. In June, it launched a Comparison Shopping Service, that offered brands the opportunity to reach browsing consumers with their products. The company has also been expanding across Europe. Now, it launches a new app.

‘More streamlined shopping experience’

With the abundance of shopping apps available, many consumers wish for a more streamlined shopping experience. Klarna says that the new app will change the complete shopping experience of consumers fundamentally.

Recent research by Klarna amongst Dutch consumers shows that up to 74 percent of them would prefer using just one shopping app in which they can perform various actions. Such an app would bring multiple benefits, of which time saving (57 percent) and easier shopping experience (54 percent) are the most important ones for consumers.

‘Switching between app is frustrating for consumers.’

More than 3 of 10 Dutch consumers use 6 or more shopping apps on their mobile devices. Up to 51 percent of the respondents claimed to be overwhelmed by the amount of shopping apps. “Switching between apps is increasingly frustrating for consumers. With the introduction of our new app, Klarna becomes a complete shopping service that covers many needs – from inspiration and discovery to seamless experiences after purchasing a product”, says Sebastian Siemiatkowski, CEO of Klarna.

‘Interest-free flexible payment options’

The app comes with a large set of features that are supposed to make shopping easier. Consumers see curated content based on their favorite stores. Users of the app can set up interest-free flexible payment options with all retailers, whether they partner with Klarna or not. Customers use ‘one time cards’ in order to do this. They are free to use in any online store. “We have enabled transparent and flexible payment solutions everywhere, because we believe that no one should pay high credit card fees and high interest rates.”

Klarna wants to enable integrations with third parties.

Klarna will add more functionalities to the app in the short term, such as a collective loyalty card environment, extra money-saving tools, social functions such as live shopping events and product data. These data will show price history, reviews and availability in the store. The company also wants to enable integrations with third parties, to provide more solutions and services.

The app is now available on mobile devices with iOS and Android. It’s available in the Netherlands, the US, the UK, Australia, New Zeeland, Germany, Austria, Spain, Belgium, Sweden, Finland, Norway, Denmark, Poland and France.