Klarna declares war on Check24 and Co
Klarna is actually known as a payment provider. But now the Swedish fintech wants to get started in another area of online trading. In the future, Klarna will also function as a price comparison platform.
In Germany, the Swedish payment service provider Klarna is becoming increasingly popular. In a Statista survey 50 percent of those surveyed stated that they had paid online via Klarna at least once between June and July 2022.
This puts Germany in fourth place behind the home market of Sweden, Finland and Austria. And Klarna is also active in brick-and-mortar retail. Here, too, 20 percent of those surveyed stated that they had used the Swedish platform in a shop.
But now the payment service provider apparently wants to conquer a new market. Because the Swedish fintech will also offer a platform for price comparisons in the future at.
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Price comparison: Will Klarna now become a competitor to Check24 and Co.?
The price comparison tool has been available in the USA, Great Britain, Sweden and Denmark since last year. The feature is now also being used in Germany.
In the future, users should be able to access the “intelligent search and comparison function” in the app and in the browser. The company wants to offer consumers “a real alternative to well-known tech giants”.
For the Swedish fintech, it is also the first step towards a “shopping ecosystem”. In the future, the platform does not only want to offer its customers product search and payment. There will also be options for delivery tracking, digital receipts and returns.
Acquisition of PriceRunner was key
In 2021, Klarna took over the Pricerunner comparison portal for around one billion US dollars. This takeover was the cornerstone for the plan to gain a foothold in the price comparison platform market. The company wants to offer “a trustworthy alternative to Google or Amazon”.
“You could spend all day comparing offers from conventional search engines or marketplaces and still never be sure whether you really found the best product at the best price,” explains CEO Sebastian Siemiatkowski.
Klarna’s new search and comparison tool does the work for consumers, comparing thousands of websites in real-time to ensure they have all the information they need to make informed and confident purchasing decisions.
How does the price comparison at Klarna work?
In the search, consumers can filter by criteria such as colour, size, features, customer ratings, availability in stores and shipping options. The tool then sorts the results by price. Users can also view the price development of various items on the platform.
Klarna will also take care of discount coupons in the future. Because if one is available, users will be informed of this during the payment process and can use it directly if necessary.
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