For the Win: Klarna and Hibbett Team Up for Payments
NEW YORK, Nov. 5, 2019 /PRNewswire/ -- Hibbett Sporting Goods Inc. (NASDAQ: HIBB), a leading athleisure and specialty footwear retailer has partnered with Klarna, the leading global alternative payments provider, to give U.S. shoppers a new flexible option at checkout. Customers can now choose to pay for products in four equal payments collected bi-weekly – with no interest or fees.
Klarna’s ‘Pay in 4’ option, means splitting payments is now easier than ever before, with shoppers enjoying a ‘smooother’ path to purchase. Giving shoppers a payment choice also encourages more confident online purchasing without the hassle of a long-term commitment, interest, or upfront costs. Four equal payments are automatically collected from the consumer’s chosen method of payment – one installment at purchase and three further payments every two weeks.
“We offer premium athletic footwear and apparel and having the ability to split the payment up for these higher priced items is appealing to our customers,” said Bill Quinn, Senior Vice President of Digital Commerce. “We are excited to increase the convenience of shopping with Hibbett by adding this additional payment option to our website.”
The split payment initiative is one of several customer facing enhancements Hibbett has implemented this year including its’ recent launch of Same Day Delivery. Hibbett remains committed to digital innovation to give shoppers the utmost control over how and when they shop. Current Klarna partners who offer the ‘Pay in 4’ option have seen an increase in average order value, more conversion and higher purchase frequency.
“Giving customers control of their finances and purchase power are core capabilities of Klarna,” said Sebastian Siemiatkowski, CEO of Klarna. “In the US, we’ve enabled over 3.5 million shoppers to pay in a way that suits them. With our alternative payment options now available at Hibbett, we are excited to partner with them to deliver a seamless checkout experience and to continue to meet their customers’ growing needs.”
Klarna, the leading global disruptor of online shopping and payments, and provider of smooth retail services, was founded in Sweden in 2005. Klarna currently holds a post money valuation of $5.5 billion, which ranks Klarna as the largest private fintech in Europe and one of the largest private fintechs globally. Klarna provides merchants with a flexible range of preferred payment alternatives that enable consumers to easily and securely pay when and how they want everywhere - online and in-store. Over 170,000 merchants, including H&M, Adidas, IKEA, Expedia Group, ASOS, Peloton, Abercrombie & Fitch, Michael Kors, Nike, AliExpress, Superdry, Sephora, Spotify, Wayfair, Gymshark, Samsung, Zara, Topshop, The Hut Group, Steve Madden, Boozt, Sonos, Agent Provocateur, Lufthansa, ETSY, Daniel Wellington and many more have enabled Klarna’s innovative shopping experience, that stretches beyond the actual transaction and also allows consumers to take control over their personal finances. Klarna has 2,500 employees and is active in 17 countries. Klarna’s North American offices are in Columbus, Ohio, Los Angeles and New York. Klarna Credit is issued by WebBank, member FDIC. For more information, visit klarna.com.
Hibbett, headquartered in Birmingham, Alabama, is a leading athletic-inspired fashion retailer with more than 1,000 Hibbett Sports stores nationwide, primarily located in small and mid-sized communities. Additionally, Hibbett owns and operates more than 100 City Gear specialty retail stores. Founded in 1945, Hibbett has a rich history of convenient locations, personalized customer service and access to coveted footwear, apparel and equipment from top brands like Nike, Jordan, Adidas, and Under Armour. Consumers can browse styles, find new releases, shop looks and make purchases online or in their nearest store by visiting www.hibbett.com or www.citygear.com.Follow us @hibbettsports and @citygear.
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