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Swedish Based Klarna Plans U.S. Operations Center In Columbus, Ohio

Sweden-based Klarna, the largest payments company in Europe, plans to invest at least $100 million in its U.S. expansion and the establishment of an operations center in Columbus, Ohio.

"We want to set a new standard for how people shop with their mobile devices. Columbus is at the heart of U.S. e-commerce activity and is the perfect launch pad for our expansion," said Brian Billingsley, CEO, Klarna North America. "We have worked together with retailers for nearly ten years to solve mobile payments in Europe, and we are excited to soon offer the same solution for consumers in the U.S."

According to the firm, “at the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes the credit and fraud risk for e-stores so that sellers can be rest assured they will always receive their money."

“Klarna Checkout enables consumers to buy online by entering only top-of-mind information like an email address and zip code,” company officials explained. “From there, Klarna assumes all the risk from the purchase transaction, pays the retailer immediately, and collects the amount due from the consumer within 14 days. Retailers who offer Klarna in Europe have reported a 30 percent lift in conversions for desktop shoppers and 70 to 80 percent for mobile users.”

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