Valuations headwinds don’t seem to be slowing down buy now, pay later (BNPL) giant Klarna.
The Swedish firm has expanded its all-in-one shopping app with a new feature that automatically consolidates purchase information — not just Klarna’s — in the company’s app, enabling U.K. customers to keep track of all their online shopping in one place.
With this addition, the BNPL player is seeking to make it more efficient and convenient for customers to manage their online purchases, helping them avoid the time lost switching back and forth between different delivery platforms.
“At Klarna we’re always trying to help users save time and money, and give them more control over their personal finances regardless of whether they purchase with Klarna or not,” Alex Marsh, head of Klarna UK, said in a FinTech Global report.
Compatible with Outlook and Gmail, the feature further enables users to connect their email accounts and easily import information on other purchases, including product prices, images, order and delivery tracking status, into the Klarna app.
“As more of us turn to alternative delivery methods which may be cheaper, or better for the environment, it can get tricky to stay on top of your deliveries. Our delivery tracking feature, already popular in Sweden and the U.S., makes managing deliveries quick, simple and seamless — everything that we stand for at Klarna,” Marsh added.
And this move to be the “super app” for U.K. shoppers is likely to strike a deep chord with British consumers.
According to a recent PYMNTS report which surveyed consumers in the U.S., Germany, Australia and the U.K, though 70% of consumers in the four countries were interested in a super app, U.K. consumers had the highest level of interest.
Moreover, consumers in the U.K. were found to have the highest number of connected devices, with an average of 5.5 each, corroborating the findings of another PYMNTS report, “Benchmarking the Digital Transformation,” which showed the U.K. to have some of the highest rates of internet connection and smartphone penetration in the world.
Clearly then, with this combination of a highly connected population and high demand for a single interface providing a broad range of virtual products and services, the U.K. presents huge opportunities for firms like Klarna that have super app ambitions.
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