Buy now, pay later firm Klarna has partnered with two major retail powerhouses, SPARC Group and Authentic Brands Group (ABG), to offer its “Pay in 4” BNPL service to more retail brands. Their online shoppers can now pay in four interest-free installments.
“With a strategic emphasis on digital innovation and customer satisfaction, ABG continues to seek partnerships” to improve its eCommerce sites and please customers, said Adam Kronengold, chief digital officer, ABG. He said the goal is “to strengthen ABG’s eCommerce platform, broaden our consumer audience base, and attract new shoppers to our brands.”
Authentic has an array of brands that include Aéropostale, Brooks Brothers, Nine West and Nautica. Klarna is currently available online at these sites and will roll out its BNPL service to more ABG and SPARC brands in the coming months.
“Our partnership with Klarna provides access to payment options we know our shoppers want to see and has resulted in a significant uptick in average order value,” said SPARC Group Chief Digital Officer Mike Dupuis. That company’s operating platform includes Aéropostale, Eddie Bauer, Brooks Brothers, Lucky Brand, Nautica and Forever 21.
SPARC Group’s parent companies are Simon Property Group and Authentic Brands Group. The company designs, manufactures, distributes and markets apparel and accessories for men, women and kids.
“As the shift to a full omnichannel experience continues to accelerate, brands must meet new consumer shopping expectations with technologies that offer more flexibility and convenience,” said David Sykes, head of Klarna U.S.
“Klarna’s in-store option gives our (in-store) customers the same shopping experience they already enjoy online,” said Matt Baer, chief digital officer at Macy’s. “We’re excited to expand our partnership with Klarna to bring even more convenience to our shoppers, in-store.”
Macy’s shoppers can pay in-store by downloading the Klarna app — or by creating a one-time-use digital card and adding it to their Apple or Google Wallet. The retailer emphasized that “customers can then make a secure and contactless payment with a simple phone tap.”