#H&M takes stake in payment company #Klarna

Fashion retailer H&M is investing $20 million in Sweden-based online checkout solution provider Klarna. For context, Klarna offers installment-like online financing options, called Klarna Checkout, giving customers 30 days to pay for their purchases. Klarna Checkout Business Insider Intelligence Through the partnership, Klarna will power the H&M Club payment program — the retailer's digital loyalty program — and be offered as a payment option in-store or on the retailer's website and mobile channel. Klarna's solution will be deployed throughout 14 H&M markets starting in 2019, beginning with the UK and Sweden. This investment could accelerate Klarna's expansion in two key ways: It builds on Klarna's moves to expand globally. Klarna — which accounts for 10% of all e-commerce in Northern Europe — has been working on its global expansion efforts. The firm moved into the US in 2014, and counts over 60 million customers and 100,000 merchant clients globally. And most recently, Klarna announced plans to acquire UK-based Close Brothers Retail Finance, an omnichannel retail financing provider. This new partnership can accelerate Klarna's expansion play and give it insights into which markets are ripest to fully launch its solution in the future. And it can propel awareness of the firm's offerings, furthering its other business efforts. When the partnership takes effect, it will give Klarna immediate access to H&M's network of 4,700 stores throughout 14 geographies. Having an in-store presence can be a streamlined way for Klarna to not only increase volume but also push consumer awareness of its services. And if the partnership proves to be successful in driving sales for H&M, it can attract other retailers that might want to offer flexible payment solutions. That awareness among consumers and retailers can also help propel Klarna's other efforts going forward — Klarna is preparing to launch its first banking product, a payment card that offers detailed statements, delivery tracking, and customer service, for example. The partnership can allow Klarna to continue growing alongside demand for installment payments.Increased consumer awareness and the number of consumers who prioritize budgeting are driving the popularity of point-of-sale (POS) financing for a wider variety of purchases. Half of customers would prefer an installment loan over other payment types for purchases under $250, according to an Affirm study, which could indicate consumer willingness to try Klarna in-store for lower value purchases. And more firms are developing their own solutions as they recognize the customer preference for installment options — Square recently rolled out an installment offering for its sellers, for example. Forming partnerships and making acquisitions is an effective way for Klarna to access merchants in major regions, which can ultimately help it solidify its position as a leader in the alternative financing space. Source: http://www.businessinsider.fr/us/hm-klarna-checkout-solution-2018-10

#Google+ is history amid massive #databreach. https://t.co/DBXYLSAMyQ

#Google+ is history amid massive #databreach. https://t.co/DBXYLSAMyQ

— Hans Hagen (@hanhagen1) October 10, 2018

from Twitter https://twitter.com/hanhagen1

#Bangladesh takes steps to grow technology inclusion (currently 30% #smartphone penetration) https://t.co/7juvAbc6Sy

#Bangladesh takes steps to grow technology inclusion (currently 30% #smartphone penetration) https://t.co/7juvAbc6Sy

— Hans Hagen (@hanhagen1) October 8, 2018

from Twitter https://twitter.com/hanhagen1

Bangladesh takes steps to drive technology inclusion from current 30% smartphone penetration

Buy handsets with ease - Users with no credit cards can soon purchase smartphones on EMI (by Muhammad Zahidul Islam) The telecom regulator has finalised a directive that will soon allow those with no credit card to enjoy equal monthly instalment facility to purchase high-end smartphones from mobile operators. A longstanding demand of the carriers, the move is expected to boost 4G-enabled handset penetration in the market, enabling operators to better monetise their investment on 4G. Currently, only about 30 percent of the mobile handsets in use in Bangladesh are smartphones. The EMI will be for six months and the handsets will be locked to the network until then, said a senior official of Bangladesh Telecommunication Regulatory Commission related with the process. Failure to clear the dues will lead to the phone being blocked by the vendor, rendering the handset unusable. The handsets, which would carry the mobile operator's logo as well as the vendor's, can have no less than 1GB RAM and 8GB storage space and be compatible with 900, 1,800 and 2,100 spectrum bands. The handsets must not cost more than the regular market price, and the mobile operators can run advertising campaigns to market them, as per the directive. “This is a global practice and most of the developed countries have adopted this facility quite a few years back,” said Md Jahirul Haque, acting chairman of the BTRC. The directive, which was finalised in a recent meeting of the telecom regulator, will be issued within the next couple of working days. “Besides, we have taken this step to accelerate the digitisation process,” he said, adding that it was a longstanding demand of the mobile operators as smartphone penetration was not increasing at the rate they were expecting. As of June, there are 60 lakh 4G mobile connections in the country and about six crore 3G connections. But the smartphone numbers are not that high. Handset imports increased 9.6 percent year-on-year to 3.4 crore units in 2017, but smartphone imports did not see any rise. In 2017, around 82 lakh smartphones were imported, according to the Bangladesh Mobile Phone Importers Association. The trend continued this year too, when 37.89 lakh units were brought in to the country in the first six months. The development is a cause for alarm for mobile operators as they built their network for the fastest mobile data by investing billion of dollars, they said. Their investment would go to waste if smartphone numbers do not increase. “We welcome the telecom regulator's move,” said Ekram Kabir, a vice president of Robi Axiata. Thanks to the directive, customers can now use smartphones with high configurations at a minimum price and instalment facilities. “This will also strengthen the customer-operator relationship,” Kabir added. source: https://www.thedailystar.net/business/news/buy-handsets-ease-1642789?platform=hootsuite

A new to look at the world: the #cartogram. It will change the way you look at the world! https://t.co/Kpi5fe8dQc

A new to look at the world: the #cartogram. It will change the way you look at the world! https://t.co/Kpi5fe8dQc

— Hans Hagen (@hanhagen1) October 2, 2018

from Twitter https://twitter.com/hanhagen1

#RBS goes head to head with neo-banks #Revolut et al with new #mobileonly bank app in the pipeline. https://t.co/X7TzaN13sb

#RBS goes head to head with neo-banks #Revolut et al with new #mobileonly bank app in the pipeline. https://t.co/X7TzaN13sb

— Hans Hagen (@hanhagen1) September 28, 2018

from Twitter https://twitter.com/hanhagen1

If this is close to reality when it gets to market, then it is super cool! #augmentedreality with #tangar in #retail https://t.co/GHar9mTcHY

If this is close to reality when it gets to market, then it is super cool! #augmentedreality with #tangar in #retail https://t.co/GHar9mTcHY

— Hans Hagen (@hanhagen1) September 26, 2018

from Twitter https://twitter.com/hanhagen1