Klarna Makes Move to Become End-To-End Shopping Hub with New App Launch
Niko Pajkovic — November 26, 2021 — Tech
References: klarna & businessinsider
Swedish fintech company Klarna has debuted its new super app platform, bridging the gap between payments and end-to-end shopping. According to the company, the new app will let users shop at any retail store, redeem promotions, and access budgeting tools.
The new shopping features will be offered alongside Klarna's well-established payment management platform and will be accessible through an in-app browser. The app will allow customers to shop at any online store, whether Klarna has a partnership with them or not, making it a true "shop anywhere" integration.
Other features of the "shopping hub" include improved spending visibility, delivery tracking, money-saving tools, live shopping events, personalized shopping collections, and price-drop notifications.
"For us, buy now, pay later is a very important feature, but it's not the whole [business]. We're doing so much more. … We want to help consumers with all problems related to shopping, and we want to help merchants grow their business," saidKlarna's chief product officer, David Fock.
Image Credit: Klarna
The new shopping features will be offered alongside Klarna's well-established payment management platform and will be accessible through an in-app browser. The app will allow customers to shop at any online store, whether Klarna has a partnership with them or not, making it a true "shop anywhere" integration.
Other features of the "shopping hub" include improved spending visibility, delivery tracking, money-saving tools, live shopping events, personalized shopping collections, and price-drop notifications.
"For us, buy now, pay later is a very important feature, but it's not the whole [business]. We're doing so much more. … We want to help consumers with all problems related to shopping, and we want to help merchants grow their business," saidKlarna's chief product officer, David Fock.
Image Credit: Klarna
Trend Themes
1. Super App Shopping - The development of integrated shopping & payment systems seen with Klarna's new super app presents opportunities for businesses to revolutionize offline and online retail.
2. End-to-end Shopping Platforms - The introduction of end-to-end platforms like Klarna's new app provides opportunities for businesses to increase their revenue streams by providing customers with a seamless shopping experience.
3. Integrated Budgeting Tools - The rise of integrated budgeting tools within shopping apps such as Klarna's, presents opportunities for businesses to leverage data to offer personalized assistance, improve customer experiences and drive revenue growth.
Industry Implications
1. Fintech - The release of Klarna's new super app exemplifies the latest in financial technology and signals the growing importance of integrated solutions in the sector.
2. Retail - The integration of seamless online and offline shopping experiences as seen with Klarna's new super app is set to revolutionize the retail industry.
3. E-commerce - The rise in popularity of online shopping and integrated payment systems signals the need for e-commerce platforms to find ways to enhance their services to compete in the growing market.
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