Swedish buy-now-pay-later company Klarna launches in NZ

Tuesday 4 May 2021 15:33 CET | News

Swedish buy-now-pay-later operator Klarna has launched its product offering in New Zealand. 

Klarna officials said the company offered more than the traditional buy-now-pay later payment system. Its app allowed users to shop at a range of stores, including those that had not signed up with Klarna, create wishlists, keep detailed track of spending and calculate their carbon emissions.

In New Zealand, 10% of online purchases were made with some sort of buy-now-pay-later app last year, according to the 2021 Global Payments Report released in March, quoted by Credit cards accounted for 32% of payments, and debit cards accounted for 15% of online purchases. Just 12% of in-store purchases were made with cash.

New Zealand already had a crowded buy-now-pay-later market so Klarna was looking to differentiate itself from existing companies by offering a wider range of services, according to the company.

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Keywords: expansion, BNPL, cashless, ecommerce
Categories: Payments & Commerce | Ecommerce
Countries: New Zealand
This article is part of category

Payments & Commerce