BNPL giant Klarna is ramping up its efforts in the physical retail sector by launching its services on Adyen in-store terminals across Europe, North America, and Australia.
While Buy Now, Pay Later (BNPL) services have primarily been associated with e-commerce, Klarna and other companies are now targeting a share of the $11 trillion global in-store payments market.
This new agreement allows retailers to integrate Klarna’s installment payment options into 450,000 Adyen terminals worldwide. These terminals will feature Klarna’s Dynamic QR technology, enabling customers to scan a QR code on the device and finalize their transactions via mobile, selecting a BNPL option.
David Sykes, Klarna’s chief commercial officer, stated, “We want consumers to be able to pay with Klarna at any checkout, anywhere. Our strong partnership with Adyen gives a massive boost to our ambition to bring flexible payments to the high street in a new way.”