Fast-fashion retailer H&M has announced a global partnership with online payments provider Klarna.
The two firms will integrate H&M’s digital and physical stores, aiming to provide customers with a seamless and personalised shopping experience across all platforms. The move will establish the H&M Club1 payment programme, providing an enhanced omnichannel customer payment system and a post-purchase service in the H&M app, among other services.
The new system will be rolled out across 14 H&M markets, with the UK and Sweden expected to go live first, next year.
H&M CEO Karl-Johan Persson said H&M is impressed with what Klarna has achieved to date, and will now work together to elevate the modern shopping experience.
“This strategic partnership between H&M group and Klarna is based on a joint relentless focus on creating great customer experiences.”
CEO and co-founder of Klarna Sebastian Siemiatkowski said retail is changing, and the future of fashion retail is high-tech powering high-touch experiences for customers.
“Regardless of how and when customers want to shop, we need to be there for them. Customers will no longer be forgiving of unnecessary complexity or when their retail experience does not leverage the insight available to make their engagement smart, personal and easy. This partnership is rooted in a shared obsession about just how good that shopping experience should be. Together we have worked hard on developing a unique solution for instore and online that will delight customers, drive economic value and build loyalty.”
H&M’s head of business development Daniel Claesson said the company wants to make it possible for customers to move freely between the various channels and choose how they want to shop and experience H&M’s offering online and instore.
“This partnership will bring tailormade payment solutions to our customers and accommodate evolving shopping patterns and needs. This includes the possibility to ‘try before you buy’, which is very relevant to online fashion retail today, and to pay with their mobile phone directly through the H&M app both instore and online.”