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Imagine going to your favourite store for shopping and coming out after buying loads of stuff without paying any money? A concept quite inspired by Amazon Go! Well, Swedish fintech giant Klarna (in which U.S. rapper and international pop icon, Snoop Dogg has invested) has now come up with physical stores with a similar idea in the Netherlands. For this Klarna has collaborated with another Swedish company HiFi Klubben which has more than a hundred businesses in Europe.
Basically, HiFi Klubben along with Klarna has introduced a post-pay facility for these physical stores. This way, customers can experience the pay later or pay in parts option even in the offline stores.
HiFi Klubben has become the first retailer in the Netherlands to use Klarna’s in-store solution. With this solution, customers visiting the HiFi Klubben stores in 13 locations in the Netherlands can use the ‘Pay Later’ option, including the Rijnstraat 160-168 in Amsterdam. After shopping, customers receive the invoice by e-mail or find it in an app. They then have a maximum of fourteen days to settle the bill. This in-store product is already being used in nearly seven thousand stores in Germany, Austria, Switzerland, England, Sweden, Denmark, Norway and Finland.
The Pay Later option has been successful in many markets such as the Nordics, the Netherlands and the UK. Eventually, it has become the most popular online payment options in Germany. Customers can pay in instalments ranging from 3 to 36 months at a low-interestlow interest rate.
How does it work?
When customers purchase from the HiFi Klubben physical store and choose post-pay option, they will get a QR code, email or SMS. The customers have to choose the option they need and access the purchase details in the Klarna app.
Klarna’s in-store solution
The in-store solution offered by the fintech unicorn Klarna is already in use and 130,000 retailers across 14 countries are benefiting from this option. Besides delivering flexible payment options, this startup also provides a smooth buying experience.
Wilko Klaassen, General Manager Netherlands and Belgium with Klarna said, “We are proud that our popular post-payment solution is now also able to offer in physical stores. More and more consumers and customers asked us to pay in the shop afterwards possible. We have started in Sweden and now is available in-store in nine countries where the Netherlands now also been added. So consumers can trust smoothness Payment with Klarna also experienced in the street.”
Peter Hans Rietveld, Country Manager of HiFi Klubben Netherlands said, “The popularity of postpay has proven itself in our shop. We are pleased to pay back the first to offer in the Netherlands in physical stores. Postpay lends itself extremely well to the products we sell. HiFi Klubben offers not only online, but also in our physical stores a trial period of fourteen days. For example, customers can listen to the selected audio installations at home in the acoustics of their own living room before the payment is made. And headphones can be extensively tested with their own music. With Klarna we offer as an additional service.”
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