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February 15, 2021updated 16 Feb 2021 11:21am

Klarna partners Ingenico to expand reach in Europe

BNPL player Klarna has joined forces with Ingenico, part of Worldline, to make its online payment solutions available to more merchants in Europe.

The development follows a roll-out in the Nordics, Germany, Austria as well as Switzerland.

The strategic partnership with Ingenico will allow merchants across Belgium, the Netherlands and the UK to deploy Klarna’s checkout experience and payment suite*.

Klarna UK head Alex Marsh said: “The last year has seen unprecedented change in retail with e-commerce becoming the increasingly dominant engagement channel for merchants across markets. Together with Worldline, we help merchants to adapt to that change and offer a better online shopping experience for consumers.”

The alliance is said to bolster Klarna’s merchant base and global consumer brand.

Worldline CMO Merchant Services Frederic Loos said: “By including Klarna into the Worldline payment platform, we pursue our mission to support merchants on way to efficient growth.

“Several studies indicate that almost half of the customers abandon their purchase if their preferred payment method is not accepted. Offering a broader choice of popular payment methods helps the merchants increase their conversion rates.”

In September last year, Klarna raised $650m in an equity funding round, at a $10.65bn valuation.

The fundraising was led by Silver Lake, alongside Singapore’s sovereign wealth fund GIC, as well as BlackRock and HMI Capital.

Last December, Klarna entered into a partnership with payments and commerce solutions provider Verifone.

Under this partnership, Klarna’s BNPL service will be available to millions of Verifone devices in the US and Europe.

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