Samsung latest major retailer to offer Klarna payment scheme

Ben StevensNews Payment

Samsung has become the latest in a string of major retailers to partner with fintech startup Klarna, allowing shoppers to pay in installments.

Klarna will now let anyone shopping on Samsung Electronics’ website pay for their items 30 days after purchase, in three monthly installments, or spread over four years.

Founded in 2005, Klarna is now valued at $5.5 billion (£4.26 billion) and has seen a dramatic spike in retail partnerships over the last year.

READ MORE: Klarna valued at $5.5bn as it becomes largest fintech startup in Europe

Its service is now offered by H&M, Asos, Quiz, Boohoo, Superdry, Abercrombie & Fitch, Michael Kors, Gymshark and Topshop among others.

Klarna is now used by 60 million consumers across 130,000 merchant partners and boasts one million daily transactions while nudging $1 billion in annual revenues, making it the most valuable fintech startup in Europe.

“We are delighted to grow our partnership with Samsung and to be working with a truly visionary and innovative global brand,” Klarna UK’s general manager Luke Griffiths said.

“Whether buying a phone, TV or washing machine, Klarna will empower Samsung.com customers with greater flexibility over how, when and where they pay, to best meets their needs.

“We look forward to further developing this partnership and driving results for Samsung in a highly competitive market.”

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Ben StevensNews Payment

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