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Swedish fintech firm Klarna has joined forces with Dutch payments company Adyen to introduce its popular buy now, pay later service to physical retail stores. The partnership will enable Klarna’s payment options to be available at more than 450,000 Adyen payment terminals in brick-and-mortar locations across Europe, North America, and Australia. Klarna’s buy now, pay later service allows users to split their purchases into interest-free installments, catering to the growing trend of flexible payment solutions in both online and offline shopping environments.

This collaboration marks Klarna’s continued expansion into the retail sector, following a previous e-commerce payments partnership with Adyen. The goal is to offer consumers the flexibility to pay with Klarna at any checkout location, enhancing the overall shopping experience. In addition, Klarna recently introduced Klarna Balance, a checking account-like product, and cashback rewards to incentivize users to leverage more of their financial activities through its platform.

Despite the popularity of buy now, pay later services, concerns have been raised by consumer advocates regarding potential overspending risks associated with the payment method. Regulatory bodies are actively working to establish guidelines to govern the BNPL sector, with the U.K. government expected to introduce new regulations on the matter. Klarna’s strategic moves in diversifying its product offerings and expanding into physical retail outlets coincide with its potential plans for an IPO in the near future, as the company aims to solidify its position in the financial technology market.

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