Payment solutions provider Klarna has added to its growing business with the acquisition of Close Brothers Retail Finance – a UK based company specialising in retailer relationship management, marketing and analytics.

Close Brothers Retail Finance has specialties in omnichannel retail finance, with more than 600 active customers in the UK. Among its point of sale finance offerings are products that allow customers to pay over time via simple, fixed monthly payment plans.

By offering this to customers, Close Brothers enables merchants to turn more site visitors into customers. The result is higher sales, an enhanced customer experience and boosted loyalty.

The move is a significant boost to Klarna in the UK and is set to be a catalyst for growth and expansion in the UK’s retail financing market.

Klarna has made many positive strides in recent years and this move is certainly a positive one. It will be interesting to see the impact it has on the wider industry.

Additionally, at the recent Magento Imagine 2018 event, Magento announced that Klarna payments are available as extension offerings in Magento 2, Magento Commerce and Magento Open Source.

Final words

“Together, we will have a rich omnichannel product offering that will exceed than anything currently available for a wide range of retail verticals, helping merchants unlock growth and allow us to serve even more customers and better.”

Luke Griffiths, Managing Director, Klarna UK

Williams Commerce offers Klarna integration with Magento. Get in touch with our team of experts to see how we can help.