Ant Financial invests in Klarna to enhance & innovate financial services
Category: #retail  By Saipriya Iyer  Date: 2020-03-05
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Ant Financial invests in Klarna to enhance & innovate financial services

Known for its pioneering innovation in the global banking and payment sector, Klarna, a Swedish payment solution provider, has recently came into limelight as it announced that Ant Financial Services Group, operator and owner of Alipay, has bought in a minority stake in the company.

Reportedly, this move is said to deepen both the companies partnership and help them bring more convenient and innovative financial services. The investment would strengthen strategic relationships, introducing Klarna’s pathbreaking solutions and services to merchants and consumers within the larger spectrum of Alibaba’s ecosystem.

Additionally, it would improve Klarna’s working relation with Alipay, which presently allows shoppers at AliExpress to utilize Klarnas Pay later solution.

Shedding light on this agreement, Sebastian Siemiatkowski, CEO, Klarna, said that for years buyers were required to go through a long, boring, non-intuitive and overly complex payment procedure while shopping from both offline and online markets. Evidently, both Alipay and Klarna share a similar ambition to innovate and create superior shopping destinations and experiences.

Siemiatkowski adds, Alibaba Group and Alipay have set a benchmark in the global app economy and retail innovation. Moreover, Klarna is pleased with the confidence Ant Financial has shown in their firm and is looking forward to redefining the future of online & offline payments with Alipay.

Prior to this news, Klarna had made significant ripples in the digital payment market when it announced its partnership with the ultimate one-stop-fashion shop, SHEIN. For the record, SHEIN is a global e-commerce fashion platform that has witnessed 17.6 million new net users across the US in 2019 alone.

As per reports, SHEIN users can now enjoy Klarnas “pay in four equal payments without fees or interest” service while checking out products.

Speaking on which, David Sykes, Head of US, Klarna, said that the company has always been in search of likeminded brands that share the same vision, and SHEIN comes as a perfect fit as it strides its way forward towards offering on-trend styles that are ergonomic with banks.

Source Credit: https://www.klarna.com/international/press/ant-financial-services-group-klarna-announce-investment-to-fuel-global-cooperation/



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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