Klarna, Europe’s leading payments provider and a newly-licensed bank, has announced that it is partnering with Canadian instant financing provider, PayBright to allow global retailers to offer an instalment payment method for Canadian consumers.

The partnership will give Klarna’s 100,000 global retailers the ability to turn on a consumer finance solution for their Canadian shoppers “quickly and easily”, by allowing PayBright to connect directly with Klarna through its reverse integration platform.

"PayBright is a leading provider of e-commerce and in-store point-of-sale financing in Canada, working across multiple verticals from fashion and retail to travel and home," said Michael Rouse, chief commercial officer of Klarna in a statement. "By building a relationship with a like-minded company, we can offer a comprehensive range of alternative payment options in this critical market to our entire global merchant base.”

Rouse, added: "Through this partnership, Klarna is now the only company to offer pay later and consumer finance services throughout North America."

Canada is the first country to be available as part of Klarna's initiative to help retailers go live in new countries seamlessly to accelerate their international expansion.

"This is another example of how Klarna wants to help retailers grow and be successful across multiple countries," explained Rouse. "Retail is increasingly competitive and we want to give our clients every opportunity to meet their goals. Klarna now offers coverage for 12 countries via our single integration and that number will continue to grow over the next year.”

Wayne Pommen, president and chief executive of PayBright, added: "Klarna and PayBright share a mission to make in-store and online merchants successful by creating a more flexible purchase experience for shoppers.

“We are excited to work with Klarna to give consumers financial choice at checkout and make cross-border commerce an easy and hassle-free reality for our merchant partners.”

 

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