Swedish fintech company Klarna has entered Spain today with the launch of its ‘buy now, pay later’ service. This service allows shoppers to pay in three interest-free installments at some online retailers across the Southern European country.
Klarna is now officially active in Spain. The payments company, with an office in Madrid, will go live with Michael Kors at the end of this month and more major brands will follow shortly.
Spread the cost over three installments
With the launch of Pay in 3, shoppers in Spain can purchase goods from connected online stores and then spread the cost of their purchase over three installments. Every installment comes at no interest or fee when users pay on time and are charged every 30 days.
There is no interest or fee when users pay on time.
Rising expectations from Spanish consumers
“Retail is changing at a rapid pace due to rising expectations from Spanish consumers. More than ever, consumers demand transparent and efficient shopping services that match their daily needs”, CEO and co-founder Sebastian Siemiatkowski says. “We are very excited to launch in Spain today and elevate the shopping experience for all Spaniards.”
We are very excited to launch in Spain today.