Global branded payments provider Blackhawk Network and buy now, pay later (BNPL) platform Klarna on Tuesday (July 12) teamed up to bring Klarna’s interest-free flexible payments solution into a variety of physical retail stores, according to a press release.
The partnership will integrate BNPL capabilities into Blackhawk’s U.S. network across a variety of categories, ranging from grocery to electronics to beauty and more, tapping into Blackhawk’s payments technology integration with major retail partners.
In-store shopping accounted for almost 80% of global retail sales in 2021, according to Klarna’s Shopping Pulse Report, which added that grocery is one of the most frequently shopped categories in physical stores.
The release also noted that in a new Klarna report on grocery shopping in the U.S., 64% of respondents said they were likely to use BNPL on groceries if it was available, and shoppers planned to spend more, shop more frequently and purchase more gourmet items with BNPL.
“During a time of strained budgets and increasing costs, our partnership with Klarna is a significant development for retailers and grocers who are focused on meeting the needs of consumers and enabling them to shop how they want, where they want,” said Brett Narlinger, head of global commerce at Blackhawk Network. “With Buy Now, Pay Later on a major growth trajectory, the collaboration between Blackhawk and Klarna will provide innovative purchasing options for consumers and retailers.”
Blackhawk is continuing to move the digital payments transformation forward with the adoption and expansion of digital wallets, mobile apps and contactless payments, per the release.
“While online retail is on the rise, consumers today still value the in-store experience and expect the same level of service and convenience everywhere they shop,” said Kristina Elkhazin, head of North America, Klarna.
Last month, Blackhawk Network and LibertyX announced a collaboration to provide new opportunities for customers to purchase bitcoin in an effort to make crypto more accessible.
Related: Blackhawk Network, LibertyX Debut Tool to Use Crypto at Retailers
The update will see users able to use their LibertyX accounts to buy crypto at a number of merchants including Fresco y Más, Harveys Supermarkets, Southeastern Grocers, Tops, Weis and Winn-Dixie.
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