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2021-11-03

Klarna Bank AB (publ): Next generation shopping: Klarna reveals the only shopping app consumers need

· App provides Klarna customers with a single destination to carry out all of their online shopping: shop at all stores online, unlock deals and price drop alerts, manage payments and view delivery tracking. A space to collect loyalty cards, additional money saving tools, live shopping events, and integrations powered by third parties will be added soon

  • Consumers can now shop and pay later at any online store through the app with Klarna's unique interest-free virtual one time cards 

  • App continues to be a growth engine for partner merchants, with more than 18 million consumers shopping through the app every month

New York, 3rd of November 2021 -  Klarna, the leading global payments provider and shopping platform has today revealed its new all in one shopping app across Klarna markets. As the app economy grows, today consumers face an increasingly cluttered and confusing landscape of e-commerce apps - this is frustrating and time-wasting for the consumer. Klarna solves this by launching the only app consumers need. Today consumers can shop at all online stores through the app, explore exclusive deals and personalised shopping collections, save items and unlock price drop notifications, view items' delivery tracking, manage payments and returns, and more. With Klarna's interest-free shopping feature consumers can now use Klarna's payment methods at all online shops, regardless of whether they are directly partnered with Klarna or not. The new Klarna app will fundamentally change the end to end shopping experience, placing consumers firmly in control with an app that meets their real needs. 

Mobile commerce continues to grow at a tremendous rate. Retail app downloads have increased by 36% in the last two years and in-app purchases by 54% (https://www.retaildive.com/press-release/20201102-retailers-see-a-36-increase-in-mobile-app-downloads-and-54-growth-in-in-/). While the rise of e-commerce has made shopping more accessible than ever before, it has also created friction throughout the shopping journey. Today people want streamlined, integrated experiences that respond to their specific needs while also saving them time and money. A recent survey conducted by Klarna revealed that 70%* of consumers said they would choose a single shopping app that allows them to perform multiple actions in place of having to switch between apps. (https://www.klarna.com/us/blog/the-future-of-shopping-is-here/) Over 68% of respondents expressed simplicity in the shopper journey and time savings as the two most significant benefits. The new Klarna shopping app answers this call, giving consumers everything they need right at their fingertips - eliminating the need to switch between several apps. 

Sebastian Siemiatkowski, CEO of Klarna: "Today people seek simplicity that solves for their specific needs in one place and enables a range of activities across their shopping journey. Switching between apps is something we as consumers find more and more frustrating. Today we are announcing a major milestone on our journey to helping people save time and money and giving them more control over their finances. With the introduction of our new app, Klarna becomes an end to end shopping service that caters to many needs - from inspiration and discovery to seamless post-purchase experiences. Meanwhile, we've made transparent and flexible payments a possibility everywhere because we believe no one should ever have to pay credit card fees or high-interest rates." 

The new Klarna app provides a shopping browser with a broad range of solutions and features that makes shopping easier and more enjoyable:

  • Shop at all online stores through the in-app shopping browser
  • Klarna's new shopping feature empowers users with interest-free flexible payments at all online retailers, regardless of whether they're partnered with Klarna or not. Powered by virtual one time cards, these are free to use and can be used at any online store
  • Curated content based on consumers' interests and their favorite stores
  • Unlock exclusive deals and price drop notifications
  • Delivery tracking on all Klarna and non-Klarna bought items
  • Spending overviews and monthly budgeting 
  • One-click payments, report issues, and returns

Additional features will soon become available that will further bridge the gap between shopping and payments. This includes a collective loyalty card space, additional money-saving tools, social features such as live shopping events and product data that will make price history, reviews, and store availability visible; and much more. Klarna will also enable third-party integrations going forward to provide even more solutions and services that will make Klarna the ultimate shopping browser of the future. 

The new Klarna app is available to download for iOS and Android mobile devices. The new Klarna app is available in the US, UK, Australia, New Zealand, Germany, Austria, Spain, Netherlands, Belgium, Sweden, Finland, Norway, Denmark, Poland and France. 

*The survey was conducted in collaboration with the research agency Dynata during October 2021 and surveyed 13,594 consumers across 13 countries; US, UK, Australia, Belgium, Finland, France, Netherlands, Norway, Sweden, Italy, Spain, Germany and Austria.

-NOTE TO EDITORS-

How to use a one time card:

1. Shop at any online store (also those who are not integrated with Klarna) in the Klarna app 
2. Find what you love and add it to your basket 
3. Press the pink `pay with K' button
4. Create a one-time card for the value of your purchase 
5. Choose to pay later and review your plan
6. Copy and paste your one-time card details into the checkout 
7. Done

-ENDS-

For more information, please contact:

press@klarna.com (press.us@klarna.com)  
+46 736 61 03 77

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