Klarna Wins NZ’s ‘Outstanding Value BNPL Provider’ By Canstar

Klarna, a leading global retail bank, payments and shopping service, has been awarded Canstar’s 2022 Outstanding Value | Buy Now Pay Later (BNPL) provider in New Zealand.

Klarna launched in New Zealand in 2021 and has already positioned itself as the nation’s best value service. The company has more than 150 million global active users and two million transactions per day.

Jose George, General Manager at Canstar New Zealand, said Klarna was a standout performer in this year’s award ratings.

“BNPL products have been established in New Zealand for some years, but Klarna’s entry last year provided a truly cost-effective option for customers. Klarna’s competitive pricing will no doubt be welcomed as more Kiwis look for more flexible payment options. We congratulate Klarna for its success in winning this award.”

Canstar’s assessment panel noted Klarna's mobile platform offered an impressive suite of features, including order tracking, budget tracking, exclusive deals with participating retailers, and its own rewards program which is designed to promote positive repayment behaviour.

With Klarna’s rewards program, consumers earn points every time they make a payment on time, with points redeemed in the Klarna app for rewards from world-class brands.

Canstar also noted that in terms of late payment fees, Klarna is the cheapest BNPL option. The difference in price, coupled with Klarna’s impressive performance in customer support, secured Klarna the top award.

Commenting on the brand’s latest achievements, Katrina Ang, ANZ Marketing Director at Klarna, said: “As we see more and more people moving away from traditional forms of credit towards interest-free payment options, our goal is to deliver the best shopping experience for consumers, giving them more flexibility and control.

“With our rewards program, we help consumers get more out of every dollar they spend and actively encourage consumers to pay for their purchases on time, making money management fun and engaging. To have this recognised by Canstar, particularly given how little time we’ve been in the market compared to other providers, is really exciting.”

This is the second year Canstar has conducted a comprehensive evaluation of all BNPL offerings available in NZ, following the explosion of BNPL over the last couple of years.

The award is determined by Canstar’s expert research panel and is based upon a sophisticated ratings methodology, unique to Canstar. It compares price and features across BNPL providers, allowing consumers to make an informed choice about which one offers the best value and customer service.

Each product is reviewed and awarded points for its pricing and the array of features available to customers through their journey. The features considered include availability within the market, management including digital wallets, and customer support such as call centre access. The cost assessment takes several factors into consideration including monthly and establishment fees and missed payment charges.

The ratings are weighted and aggregated to come up with the winning product.

Klarna’s fast-growing local merchant base includes Kathmandu, Mighty Ape, PB Tech, Mocka and more.

For more information about Klarna, head to www.klarna.com/nz. For more information about Klarna’s rewards club, visit https://www.klarna.com/nz/rewards

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