Klarna has enhanced support for Australian retailers following the announcement of zero Klarna merchant fees for the first six months for CBA merchants who integrate with the BNPL firm online or in-store.
The company also detailed it will offer eligible merchants continued marketing support, collaborating with them to identify opportunities to drive brand awareness and engagement through social media, Klarna media services, and in-app content and activations.
Klarna’s Chief Expansion Officer, Camilla Giesecke, said: “With over 90 million users and more than 250,000 merchants globally, Klarna’s ambition is to become Australians’ favourite way to shop, while delivering incremental growth for Australian retailers. Retail has been under pressure from the persistent nature of the pandemic, and small businesses, who are at the heart of our communities, have felt its impact most.
“Through our partnership with CBA, we are delighted to make this offer available to retailers, big or small, as part of our broader commitment to be a growth partner for the Australian retailers. We hope this will go some way in supporting their business in the short term, in the lead up to peak shopping season.”
It comes amid a tough economic period for retailers in the region, as firms have had to endure various lockdown measures and heightened regulations.
Commonwealth Bank’s Group Executive of Business Banking, Mike Vacy-Lyle, added: “The pandemic continues to impact retailers across Australia, with small businesses in particular facing cash flow challenges as a result of the lockdowns and restrictions. We recognise that some of our small business customers, particularly those in retail industries, are where the effects of lockdowns are being most acutely felt and may need extra support.
“CBA remains committed to playing a leadership role in Australia’s economic recovery, and this forms part of our broader business support. Having supported tens of thousands of businesses in the last 18 months with repayment holidays and fee waivers, we know how valuable cash flow relief can be for businesses. We believe this initiative goes some way to providing support to businesses across the country.”