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News > Fintech

Klarna partners with H&M

Martin Greenland | 07:30 Wednesday 10th October 2018

Swedish bank Klarna has entered into a global partnership with H&M group to further integrate H&M’s digital and physical stores.

The partnership is set to give customers a seamless, personalised and engaging shopping experience no matter where, when and how they shop.

The agreement will see the duo power the H&M Club payment programme, provide an enhanced omnichannel customer payment offering, a streamlined post-purchase service in the H&M app and other services.

In addition, H&M group will make an investment into Klarna.

Commenting on the partnership, Karl-Johan Persson, CEO at H&M group, said that it was impressed with what Klarna had achieved to date and they would work together to elevate the modern shopping experience.

“This strategic partnership between H&M group and Klarna is based on a joint relentless focus on creating great customer experiences.”

Sebastian Siemiatkowski, CEO and co-founder of Klarna (pictured above), added: “Retail is changing, and the future of fashion retail is high tech powering high-touch experiences for customers.

“Regardless of how and when customers want to shop, we need to be there for them.

“Customers will no longer be forgiving of unnecessary complexity or when their retail experience does not leverage the insight available to make their engagement smart, personal and easy.

“This partnership is rooted in a shared obsession about just how good that shopping experience should be.”

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