Klarna has officially launched in Ireland, offering interest-free ‘Pay in 3’ installments on its app and through retail partners, according to a press release on Tuesday (Nov. 9).
The fee-free buy now pay later (BNPL) offering is intended as an alternative to credit cards, a move being embraced by shoppers in Ireland, who are increasingly turning to debit cards for daily spending. Debit card spending expanded three times faster than credit cards from 2015 to 2020.
See also: Klarna Makes Preemptive Move, Overhauls BNPL Program
Sebastian Siemiatkowski, Klarna’s co-founder and CEO, said that Ireland is a great market for the company since people there are favoring debit spending over credit and “older-style financial institutions exit the market.”
“At Klarna, we believe that everyone deserves a better way to shop and pay, with more control, choice and flexibility. Traditional high-cost models like credit cards are built on charging interest and late fees to the rest. That’s why we offer flexible, transparent and fair payment options without charging interest or fees,” Siemiatkowski said.
Using the Klarna app, shoppers in Ireland can use the Shop Anywhere functionality to make eCommerce purchases at any merchant, even if the shop is not a Klarna retail partner.
People can manage and track all payments in the Klarna app, which is also intended to help users oversee and organize their spending and payments.
Read more: Klarna Teams With Stripe to Help Online Businesses Grow Revenue
Colin Creagh, head of business development at Klarna in Ireland, said that the company will collaborate with Irish merchants to assist them in tapping markets worldwide.
“With coverage in 17 markets across three continents, we can accept payments from almost every country in the world, unlocking huge growth opportunities for our partners. As a key European market with a population of keen digital adopters, Ireland has long been part of our expansion strategy in our mission to offer safer, more sustainable payment options to customers around the world,” Creagh said.
