The Perfect Fit: Klarna and TOMS Pair Up for Payments

NEW YORK, Aug. 1, 2019 /PRNewswire/ -- TOMS has partnered with Klarna, the leading global alternative payments provider, to give shoppers in the U.S. two new options at the online checkout to pay later in either four equal installments or in 30 days - with no interest or fees. TOMS engages customers by integrating them into their giving strategy, and flexible payment methods will allow more people to participate in TOMS's goal of building a better tomorrow.

Giving shoppers payment choice encourages more confident online purchasing without the hassle of a long-term commitment, interest, or upfront costs. Four equal payments are automatically collected from the consumer's chosen method of payment – one installment at purchase and three further payments every two weeks. When asked, 75% of shoppers said they would like to pay in installments when shopping. And 35% of Gen Z shoppers worried about trending items selling out before they could purchase. With TOMS wide range of styles and colors, offering Klarna empowers shoppers to get what they want, exactly when they want it, in a way that fits their lifestyle. Additionally, Klarna's payment options are proven to reduce cart abandonment and increase repeat purchase for retailers.  This will grow TOMS's impact, as each purchase contributes towards impact grants to various issue areas including safe water, mental health, shoe giving, ending gun violence, homelessness and equality.

"Giving customers control of their finances and purchase power are core capabilities of Klarna," said Michael Rouse, Chief Commercial Officer of Klarna. "In the US, we've enabled over 3.5 million shoppers to pay in a way that suits them - and with our alternative payment options now available at TOMS, we're proud to help grow the business of a brand that gives back to a cause with every purchase."

"TOMS is excited to increase accessibility to our brand with Klarna payment options," said Ryan Slyper, Vice President of Ecommerce from TOMS. "We hope to empower our customers by giving them options on how to make their purchase and choose how that purchase will make an impact. Customers can choose for their purchase to contribute to issues such as safe water, mental health, shoe giving, ending gun violence, homelessness, and equality."

Shop with Klarna at https://www.toms.com/.

About Klarna
Klarna is a leading global payments provider that's revolutionizing the payment experience for shoppers and merchants alike. Founded in Stockholm, Sweden, in 2005, Klarna gives consumers the option to pay now, pay later or over time — offering a trusted, frictionless and smoooth checkout experience. Klarna now works with 130,000 merchants including Adidas, Sephora, ASOS, Nike, Sonos, IKEA, H&M and JD Sports, to offer payment solutions to users across Europe and North America. Klarna has 2,500 employees and is active in 14 countries.

About TOMS
TOMS started 13 years ago as the original One for One company. For every shoe we sold, TOMS gave another to a child in need. Now we are expanding where and how they give. TOMS will continue to give shoes, develop vision centers, and build water systems, but now TOMS purchases also help give Impact Grants to organizations addressing some of today's most pressing issues.  These issues include safe water, shoe giving, mental health, ending gun violence, homelessness, and equality. Together we are taking a stand for a better tomorrow.

SOURCE Klarna