Klarna says "Buongiorno" in Italy and launches "Pay in 3"

MILAN, Oct. 20, 2020 /PRNewswire/ -- Klarna, the leading global payments provider and shopping service, which today serves over 200k merchants and 90m consumers worldwide, officially launches in Italy today with the introduction of "Pay in 3". Shoppers who use Klarna in a retailer's checkout will be able to buy online and split their purchase into three interest-free equal payments. Starting today, Italian consumers will be able to use Klarna's new shopping solution with H&M, Michael Kors and with several other well-known merchants to follow in future. 

With the launch of `Pay in 3', Italian shoppers will be able to purchase their goods from their favourite online stores and spread the cost of their purchase over three instalments, charged every 30 days. The payment solution comes at no interest or fees when users pay on time. Along with the new offer, Klarna also introduces the Klarna app which allows users to keep track of and manage their payments as well as find inspiration. 

"Retail is changing at a rapid pace due to rising expectations from Italian consumers. More than ever, consumers demand transparent and smart shopping services that meet their daily needs. We believe the future of retail is high tech powering high touch experiences, so regardless of how and when consumers want to shop and pay, we need to be there for them. That's why we focus on unique shopping solutions that allow consumers to take control and shop on their own terms. We are very excited to launch in Italy today and elevate the shopping experience for all Italians," says Sebastian Siemiatkowski, CEO and co-founder of Klarna.

"Klarna is focused on being a true growth partner for merchants in Italy. Across markets we help over 200.000 merchants every day to increase their average order volume, conversion rates and ultimately their revenues by providing seamless checkout experience for consumers. We are very excited to officially launch our shopping solution in Italy today, help Italian merchants make the most of the growth in e-commerce and build loyal and satisfied customers in the long term", says Francessco Passone, Country Manager Italy at Klarna.

With the acquisition of "buy now, pay later" startup Moneymour and the following launch of a product development hub earlier this year in Milan, Klarna is launching in Italy at a time where online shopping is increasingly gaining in momentum in Italy. According to Netcomm 2 million new online shoppers were registered in Italy (vs 700.000 in 2019) in the first half of 2020. eCommerce purchases in 2020 are estimated to reach 22.7 billion Euros, with a 26% increase compared 2019 with particular high growth rates in the food & grocery (+56%), home & living (+30%) and fashion (+21%) segments, as highlighted by recent research of the Osservatorio del Politecnico di Milano and Netcomm. 

Founded in Stockholm in 2005, the company currently holds a post money valuation of $10.65 billion, which ranks Klarna as the largest private fintech in Europe and one of the largest private fintechs globally. Today more than 90m consumers use and trust Klarna, and the company partners every 7th minutes with new merchants such as Inditex, H&M, Sephora, Michael Kors, Mango, Wayfair, IKEA, Expedia Group, Samsung, AliExpress, ASOS, Boohoo, RayBan, Levi's, Ticketmaster, Abercrombie & Fitch, and Nike.Across the world, Klarna offers a wide range of products within payments, shopping and personal finances to make it easier for people to shop on and offline. 

About Klarna

We make shopping smoooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna's offering to consumers and retailers include payments, social shopping, and personal finances. Over 200,000 merchants, including H&M, Sephora, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna's innovative shopping experience online and in-store. Klarna is the most highly valued private fintech in Europe with a valuation of $US10.6bn and one of the largest private fintechs globally. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. For more information, visit https://www.klarna.com/it/. 

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