Sweden-based buy now, pay later (BNPL) fintech Klarna has forged a partnership with US-based fashion apparel retailer Express in view of the upcoming holiday shopping season.
The partnership complements the ‘Express Cheer’ holiday campaign launched by Express and Klarna earlier this month.
Under the latest partnership, Express will enable its customers to buy the Express styles they prefer from its new Holiday ’20 collection.
They can use Klarna while checking out at Express.com website, and pay in monthly instalments of four equal, interest-free payments.
As part of the Express Cheer holiday campaign, the partners will also distribute Express gift cards worth a total of $70,000, to customers.
Moreover, starting from 21 December 2020, the companies will award 100 prizes of $100 gift cards to customers each week if they use Klarna during checkout.
The prizes will be rolled out to a total of 700 winners, and one grand prize winner who will get an Express gift card worth $1,000.
Express SVP of e-commerce Brian Seewald said: “Partnering with Klarna allows us to offer our customers the ease and flexibility of alternative payments this holiday season.”
Klarna provides BNPL payment options to over 90 million customers and over 200,000 retailers worldwide.
Express is the latest retailer to join the growing list of Klarna’s US retail partner network.
Klarna US head David Sykes said: “Express.com customers will now be able to have greater financial control during the busy holiday shopping season by using our flexible payment option at checkout.
“We are especially pleased to engage new and existing shoppers through this Express Cheer campaign and bring some extra joy this season.”
Earlier this month, Klarna launched a widget to allow its consumers to track holiday shopping deals.
In September 2020, Klarna raked in a $650m equity funding round, which valued the fintech firm at $10.65bn.