Buy Now, Pay Later (BNPL) service Klarna has appointed FinTech platform Adyen as its acquiring bank to collect payments.

The partnership will start in 2024 and focus on Europe, North America and Asia.

Adyen has offered several of Klarna’s service to its customers for over a decade. The company says the new partnership will simplify card payments for Klarna's 150 million consumers and 500,000 retail partners globally.

“Adyen, a world-class financial technology platform for businesses with global ambitions, aligns seamlessly with Klarna’s role as the preferred payments network and shopping assistant for consumers and retailers worldwide,” said Sebastian Siematkowski, co-founder and chief executive of Klarna. “In our journey towards strengthening our global commerce offerings, Adyen will play an integral role as our trusted partner.”

In November, Klarna announced it had partnered with Form3 to provide instant payment connectivity across the Single Euro Payment Area (SEPA).

Klarna will use Form3’s cloud-based API to gain direct technical access to STEP3, an automated clearing house for mass payments, and RT1 which is used for credit transfers.

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