Samsung Taps Klarna's Flexible Payments to Optimize Phone Financing
The electronics maker is making its wares more accessible by offering a variety of installment payment plans
In a year defined by many uncertainties, economic instability ranks among the most significant. Ahead of a disrupted holiday season, brands and retailers are searching for ways to enable greater flexibility and freedom when it comes to supporting consumer purchases. One way is by looking to alternative financing methods, which Samsung has done through a partnership with payments platform Klarna, known for its ‘buy now, pay later' installment plans.
This collaboration enables Samsung to offer customers installment options like payment in 30 days, three even payments every 30 days, and payments spread out over as many as four years. The three choices correspond to how much shoppers spend, with the first option available for lower-cost purchases, and the last available for order of over £250. Klarna's plans are available for Samsung products ranging from appliances like washing machines to the latest Galaxy phone model.
Increasing numbers of brands and retailers like Samsung are broadening their payment options for consumers, thereby both expanding their target audiences and making their merchandise more accessible. PSFK researchers highlighted the tech maker's partnership with Klarna in recent research about enabling agile operations for holiday 2020—check out more ways here.