Klarna and Simon Announce National Strategic Alliance

NEW YORK, Oct. 6, 2021 /PRNewswire/ -- Klarna and Simon announced a strategic national alliance and multi-year relationship that will provide customers in Simon shopping destinations with access to Klarna's unique in-store payment solutions. The collaboration will harness the power of Simon's vast in-store shopper base with Klarna's millions of monthly active users.  Klarna and Simon are also working closely on additional strategic initiatives, which will be announced and rolled out in the future.

"Identifying ways that support the success of our merchants while elevating the customer shopping experience are key priorities for Simon," said David Simon, Chairman, Chief Executive Officer and President, Simon. "By aligning with Klarna, we're giving our retail tenants an important advantage this holiday season and well into the future;  a unique way to attract new audiences already embracing the convenience that Klarna's interest-free payment options provide."

"Simon connects millions of consumers with merchants in truly meaningful and engaging ways that are reimagining experiences far beyond the expected, every day," said Sebastian Siemiatkowski, CEO, Klarna. "With recent news reports stating that retail traffic is expected to exceed 2019 levels once again, we're thrilled to partner with Simon to further unlock in-store revenue and loyalty for retailers, and offer customers even more ways to shop and pay how they want."

Klarna's flexible payment options will be made available to shoppers at participating merchants across the entire Simon portfolio. Additionally, Klarna will bring a suite of innovative performance-based digital marketing capabilities to physical retailers in Simon centers and collaborate with Simon on marketing campaigns, in-mall activations and communication programs to raise awareness with shoppers over time.  

Klarna's recent survey of more than 40,000 consumers in the US indicates that physical retail remains a high priority for shoppers. The study found that brick-and-mortar stores have an instant gratification advantage over online retail, with younger consumers appreciating the speed and efficiency of in-store shopping.

In the spirit of this national alliance, Klarna and Simon are planning and developing unique strategic initiatives geared towards consumers and retailers which will bring significant added value to Klarna and Simon shoppers who shop at Simon shopping destinations. 

About Klarna

We make shopping smooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna's offering to consumers and retailers include payments, social shopping, and personal finances. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna's innovative shopping experience online and in-store. Klarna is one of the most highly valued private fintechs globally with a valuation of $45.6 billion. Klarna was founded in 2005, has over 4,000 employees and is active in 17 countries. For more information, visit klarna.com.

About Simon

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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SOURCE Klarna Bank AB (publ)