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Klarna expands into Canada

Bank and payment processing company Klarna has expanded its services into Canada. These include a mobile shopping application and a payment plan program that allows consumers to pay for purchases at participating retailers in four interest-free installments. Participating Canadian retailers at launch include Harry Rosen, Mejuri and Frank And Oak, as well as Adidas, Sephora Canada, L’Oreal Canada and GameStop.

In addition Klarna has announced the creation of its first North American technology hub in Toronto. The location will allow Klarna to service current and future customers in the US and Canada. Its services will include engineering, product management, design, data science and analytics. The company also plans to open an office in Vancouver.

“Consumers across the world are moving away from traditional credit models to alternatives that better meet their expectations by offering smarter and more transparent ways to purchase, and the Canadian shopper is no different,” said Sebastian Siemiatkowski, CEO of Klarna. “Recent Klarna research has found that at least half of Canadian shoppers ages 25 to 56 are looking for flexible payment options at checkout. With our expansion to Canada, we are bringing consumers the more sustainable, flexible payment alternatives they are looking for, empowering them to save time, money and make more informed financial decisions.”

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