Dutch payment firm Adyen is set to become an acquiring bank for Klarna’s global consumer offerings, starting in Europe, North America, and Asia in 2024.
In a statement, the fintech said it is strengthening its partnership with Klarna, an AI powered global payments network and shopping assistant that will leverage Adyen’s acquiring capabilities to simplify card payments for its consumers and retail partners globally.
Although Adyen has offered Klarna’s suite of payment methods, including their interest-free BNPL loptions to its customers for over ten years, the deal marks a new milestone as Adyen assumes the role of acquiring bank on behalf of Klarna for the first time.
Speaking on the announcement, Pieter van der Does, co-founder and co-CEO, Adyen said: “Klarna has, in many ways, revolutionised the digital shopping experience. I am proud to say we are now joining forces in a partnership set out to simplify payments and shopping in our respective areas of expertise. Adyen’s financial technology platform combined with Klarna’s various consumer offerings will raise the standard of payments and consumer experiences worldwide.”
The deal follows the news, last month, that Klarna was expanding the rollout of several commerce engagement tools. It has also been making moves in the travel sector recently. In November, Klarna agreed a deal with airline Cathay Pacific to allow travellers across Europe pay for flights in instalments. The firm is aiming to tap into an industry that has extremely high credit card usage. Currently, credit cards used for 70% of the $1 trillion spent on flights, globally, each year.
