Vend to partner with Klarna to aid small businesses

Vend, the preferred retail point-of-sale software of the British Independent Retail Association, is partnering with global payments provider Klarna, as part of its goal to “level the playing field for small business to compete with enterprise retail”.

The partnership between the two tech providers will give small businesses the power to provide their customers with flexible payment options through Klarna, whilst still being able to reconcile their sales at the end of the day through Vend’s ePOS system.

The collaboration will be first rolled out in the UK, ahead of a wider launch in the US later this year, added both companies.

Higor Torchia, managing director, EMEA at Vend said in a statement: “Consumers love to buy at independent retail shops, and the ability to pay flexibly with Klarna gives shoppers more opportunity to do this, and retailers the ability to attract more customers.

“Vend’s cloud-based software allows independent retailers to manage their inventory on-the-go, running reporting analytics for users that gives insight on customer loyalty and what’s selling well. Getting Klarna set up on Vend is very simple and can be done in two simple steps. It will ensure retailers can keep track of what’s been sold should customers wish to buy in the moment, but pay when more convenient.”

The flexible checkout experience will be easy to set-up, explains Vend, as customers will just need to connect via a smartphone to pay with Klarna by scanning a QR code or using a payment link provided by SMS or email, before filling out their details and selecting a payment option. Klarna will then make a real-time decision “made in just seconds” and Vend’s ePOS system will automatically reconcile Klarna sales at the end of the day.

Luke Griffiths, UK general manager at Klarna added: “One of the most exciting things about working in this space is the opportunity to partner with other fintech and payments services who are also seeking to revolutionise the shopping experience. Our partnership with Vend shows our commitment to supporting small businesses. Combining our flexible payments with Vend’s ePoS system offers a superior shopping experience for customers and retailers alike.

“As we grow as a business and redefine the way people pay, we’re excited to continue these partnerships and bring flexible payments to more shoppers and retailers globally.”