Global payments provider Klarna announced last week it has formed a new partnership with Canada-based instant financing provider, PayBright. Klarna and PayBright are reportedly joining forces to give Klarna’s 100,000 global retailers the ability to turn on a consumer finance solution for their Canadian shoppers quickly and easily.
Klarna reported that Canada is the first country to be available as part of the platform’s initiative to help retailers go live in new countries seamlessly and accelerate their international expansion. Via Klarna’s reverse integration platform, which enables partners and other issuers such as PayBright to connect directly to Klarna, retailers will benefit as their integration will instantly be supported in all available markets. While sharing more details about the partnership, Michael Rouse, Chief Commercial Officer of Klarna, stated:
“PayBright is a leading provider of e-commerce and in-store point-of-sale financing in Canada, working across multiple verticals from fashion and retail to travel and home. By building a relationship with a like-minded company, we can offer a comprehensive range of alternative payment options in this critical market to our entire global merchant base. Through this partnership, Klarna is now the only company to offer pay later and consumer finance services throughout North America.”
Wayne Pommen, President and CEO of PayBright, went on to add:
“Klarna and PayBright share a mission to make in-store and online merchants successful by creating a more flexible purchase experience for shoppers. We are excited to work with Klarna to give consumers financial choice at checkout and make cross-border commerce an easy and hassle-free reality for our merchant partners.”
As previously reported, Klarna was founded in 2005 and offers consumers the option to pay now, pay later, or over time through what it believes is a trusted, frictionless and smoooth checkout experience.