AI-powered global payments network providing Buy Now, Pay Later solutions Klarna has partnered with UK-based luxury store Liberty to offer payment flexibility. Through this collaboration, the British department store Liberty sees Klarna’s flexible and interest-free payment options now available online.

Payment flexibility and Klarna – Liberty partnership details Based on the information detailed in the press release, the partnership is set to assist Liberty’s customers with saving time and money and worrying less, enabling them to shop smarter by leveraging Klarna’s interest-free payment options and managing their spending through the Klarna app. The announcement comes as data from Klarna showcases that most customers (42%) have a preference towards using Buy Now, Pay Later (BNPL) instead of a credit card (33%) when purchasing pricier items. Liberty is joining Klarna’s network of luxury brands alongside names such as Harrods, Farfetch and Rimowa, allowing shoppers to buy high-end quality products making use of Klarna’s flexible and interest-free products.

What is more, this follows recent initiatives from Klarna which encourage consumers to consider how impactful their shopping habits are on the environment, as luxury products have a tendency to be increasingly durable, made from higher-quality materials, and can also be passed down across generations, or resold. Per the press release information, in the UK, half of all luxury shoppers (51%) claim that their high-end goods purchases are more sustainable, whereas 46% consider their items to save them money in the long run. Established in 1875, Liberty, also known as Liberty’s, is among the most known shopping spots in London, with the store providing an extensive array of clothing, fabrics, homeware, and beauty products.

When commenting on the collaboration, Raji Behal, Head of Western and Southern Europe at Klarna said that the company is looking forward to partnering with Liberty and providing flexible and convenient payments to shoppers looking to purchase high-end items online. The spokesperson advised that they have been seeing consumers of all ages and incomes discarding credit cards and showing recognition towards the environmental benefits of ‘buying it for life’ with high-quality products in a classic style that is to look good for an extensive period. Per their statement, Klarna’s interest-free BNPL products aim to enable consumers to manage finances in an improved manner and make informed decisions that would benefit their wallets and the planet alike.

Klarna’s recent developments Within 2023, Klarna announced multiple developments, ranging from partnerships to product launches and expansions into additional markets. In July, it made public a collaboration with Money Advisor Network to enable clients’ access to free and impartial debt advice, coming in the context of FCA’s implementation of Consumer Duty, set to come into force at the end of July 2023. June saw the company launch climate-focused tools set to help users make more conscious purchasing decisions.

More specifically, the company expanded CO₂e emissions tracking insights within the Home & Gardens and Jewelry & Accessories categories. In the same month, Klarna announced its expansion to Romania and made public a multi-million contribution for several climate impact solutions. For more information about Klarna, please check out their detailed profile in our dedicated, industry-specific Company Database.

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