Swedish Buy Now, Pay Later (BNPL) platform Klarna announced that it has officially launched in Ireland.
Irish consumers will be able to shop online and split their purchases into three interest-free equal payments (Pay in 3) through both the Klarna app and directly via integrated partner retailers.
Klarna’s launch of an interest-free and fee-free alternative to high-cost credit comes as Irish consumers shift away from credit cards towards debit for most of their day-to-day spend. Spending on debit cards grew three times faster than credit cards between 2015 and 2020.
In the Klarna app, Irish consumers will be able to ‘Pay in 3’ at any online store, regardless of whether they are a Klarna retailer or not, thanks to the ‘Shop Anywhere’ function.
Similarly, consumers who use Klarna at a partner retailer’s online checkout will be able to split their purchases interest-free.
Sebastian Siemiatkowski
Sebastian Siemiatkowski, Klarna’s Co-founder and CEO said,
“Ireland is a really exciting market for us, as people turn away from credit cards. As the older-style financial institutions exit the market we’re here to create more competition, which is in the best interest of the consumer.
At Klarna we believe that everyone deserves a better way to shop and pay, with more control, choice and flexibility.”
Colin Creagh
Colin Creagh, Head of Business Development at Klarna in Ireland added,
“We’ll be working with our Irish retailer partners to help them access a global marketplace. With coverage in 17 markets across three continents, we can accept payments from almost every country in the world, unlocking huge growth opportunities for our partners.
As a key European market with a population of keen digital adopters, Ireland has long been part of our expansion strategy in our mission to offer safer, more sustainable payment options to customers around the world.”
Featured image: Edited from Unsplash
