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Klarna is Sweden’s next billion dollar hot tech hope

Monday, September 08, 2014 - 03:14

Sept. 8 - Reuters speaks to Klarna Chief Consumer Officer, Erik Engellau-Nilsson, ahead of the Stockholm tech fest about disrupting the world of e-commerce and following in the footsteps of Spotify and King.

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Many people according stuck on the wells next Holtz takes fifty to find out more ahead of the stuck on the -- -- I'm joined here by anything on this -- -- -- enough. -- So so -- has all about simplifying payments for online businesses. And I think the best way to compared with -- anything else that he's going to physical store and look at that someone is buying something. Most people know what they want coming up to the cashier in the tried to pay for it. And it works out really nicely because the idea credit caught in news like that and it's these insecure. They can take that to an online store it's really complicated complete the purchase. And so. All of the people -- go to a final check out in the online store only 30% complete their purchase present a physical source like 100%. And that creates a huge problem for both merchants and consumers because it feels. Like it's too much friction it's unsafe and it's not simplest should be. -- comments about this about simplifying the process of making this easier as possible for consumers to shop on line. How are you different from PayPal -- -- are you worried about it's like having a business. So I think Tony is extremely different from all other payment providers out there and one very simple way and that is they don't need and the unnecessary registration shall we aren't. So with all other payment providers need to identify yourself with a username or password or you need to use credit card he tells you something like that to complete a purchase. And we've removed all the friction from the court process with -- So. All you have to do this let's show -- your with your you know. -- -- mine information and then click the buy button so we've removed all of them necessary aspect of the fighting and making the simplest possible. And in order to do that we have to make it really safe for the consumers also at the core what kind of -- really having an extremely sophisticated. Risk assessment -- so will you be able to pay or not that's the really good secret source of our. Is extending into the US and unit and next at the -- well it is it something. So yeah I would definitely a exploring new articles so that means taking the business into like transportation. Travel or. Maybe fisted digital contents but the geographical expansion is very excellent -- US is a very interest market that we think has a lot of opportunity and we just launched in the UK so we're really reports about how much are you full -- to make next year. We have who we're just in the process of setting a budget for next here so I'm mature and but this here it's about 200 million euros segment. Do you think Donna would have enjoyed the success it has done if it was based anywhere else other than sweetened. There's so many advantages of being Swedish company I think we have great talent who here. There are other companies that have really but can inspire us -- guy like -- colder and fogleman told Spotify king they're just a a whole bunch of really cool companies in Sweden and we help each other to. Create something exciting. So I think it. Probably would have been difficult because you. The rights talent pool we have the right inspiration and to have the right infrastructure in terms of Texas. Support from the government --

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Klarna is Sweden’s next billion dollar hot tech hope

Monday, September 08, 2014 - 03:14