Flexible in-store payment plans offered at Simon-owned malls – the online reporter

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Shoppers at Simon malls such as King of Pracha Mall, Montgomery Mall, and Philadelphia Premium Outlets have several optional in-store payment options available when shopping this holiday season.

Simon has a multi-year relationship with global financial technology company Klarna. We offer unique flexible payment and digital in-store marketing solutions.

Under the deal, consumers will be able to “buy now, pay later” from participating merchants at Simon malls starting November 1.

Klarna’s in-store payment method allows shoppers to pay in-store interest-free. The company offers a variety of payment options, including direct payments, post-delivery payments, and installment plans, including the Pay In 4 program.

In a statement, Simon’s Chairman, CEO and Chairman, David Simon, said, “Identifying ways to improve a customer’s shopping experience while supporting merchant success is a key issue. high priority for Simon. “By partnering with Klarna, we are providing merchant tenants with significant benefits this holiday season and into the future. Unique in attracting new audiences who are already embracing the convenience offered by Klarna’s interest-free payment options.” Method.”

Simon-owned regional malls will start offering flexible payment plans to shoppers from November 1. The deal with Clarna allows buyers to diversify payments at participating Simon-owned merchants for four months without interest. the shopping center. This photo shows Philadelphia Premium Outlets. Merchants from the King of Pracha Mall and Montgomery Mall will also participate. (Photo courtesy of Philadelphia Premium Outlets)

Once the program is launched, shoppers will be able to see the Klarna banner and communication throughout Simon Mall explaining how to use Klarna in-store. According to the company, shopping through Klarna at these physical retailers also offers specials and discounts from participating merchants.

Additionally, merchants can take advantage of the various digital marketing features offered by Klarna to better understand their customers and improve their shopping experience.

Participation in new initiatives is an option for traders. Founded in 2005, Klarna has more than 250,000 business partners in 17 countries. The company said it had “good results” with merchants who offered Clarna in the store. One example the company shared in an email response to a question was Sephora. Sephora increased its average order value with Clarna by 65% ​​at its stores in North America, Clarna said.

According to a holiday 2021 report just released by Klarna, 34% of shoppers surveyed said malls are the most popular place to shop this holiday season, and the most budgeted shoppers. Said they are twice as likely to seek flexible payment options.

By leveraging in-store payment solutions and digital marketing capabilities, Simon and his merchants will “increase in-store visits and provide a more engaging experience” ahead of the holiday shopping season, the company said. I can.

This pre-pandemic file photo shows buyers at Limerick’s Philadelphia Premium Outlets. The center is one of Simon-owned malls that offers flexible in-store payments through Klarna. The initiative will begin on November 1 at all Simon-owned malls, including the King of Pracha Mall and Montgomery Mall. This service is available at participating merchants. (File photo by MediaNews group)

In a statement, Klarna CEO Sebastian Siemiatkowski said, “Simon connects millions of consumers and marketers in a truly meaningful and engaging way, reimagining experiences that far exceed expectations every day. It is said. “Recent reports predict that retail traffic will once again exceed 2019 levels, partnering with Simon to further unleash in-store revenue and retailer loyalty for purchases and customer payments. I am happy to offer more means. “

The company said online shopping increased during the pandemic and demand for alternative payment services like Klarna increased. Online shopping continues to be strong, but in-store experiences remain a “top priority for shoppers,” according to a recent Klarna survey of more than 40,000 consumers in the United States.

Studies show that physical stores have immediate and satisfying advantages over online retailing, and young consumers appreciate the speed and efficiency of in-store shopping.

Klarna’s flexible payment options will be available to buyers at participating merchants at all Simon properties in the United States, including 10 malls in Pennsylvania. Some of the properties we are developing the initiative for are: King of Pracha Mall in Upper Melion. Montgomery Shopping Center in Montgomery Township. Limerick Philadelphia Premium Outlets. Lehigh Valley Mall in Whitehall. Philadelphia Mills in northeast Philadelphia and five other state facilities.

“By partnering with Klarna, we are providing tenant merchants with significant benefits this holiday season and into the future. – David Simon, President, CEO, President, Simon

As part of a multi-year national alliance, Klarna and Simon are working on other strategic initiatives that will be announced and rolled out in the future.

Klarna’s business partners include H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress. The company has 90 million active customers (15 million in the United States) and processes 2 million transactions per day. According to the company’s website …

Simon is a real estate investment trust that owns the Simon Property Group, which is made up of shopping, dining, entertainment, multi-purpose destinations and the S & P100 companies. The trust has assets that span North America, Europe and Asia.

Flexible in-store payment plans offered at Simon-owned malls – the online reporter

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