Simon Teams has partnered with Klarna to provide the mall operator’s customers with in-store payment alternatives from the fintech company. In a statement, the firms also stated that they are collaborating on “other strategic projects, which will be revealed and rolled out in the future.”

The implementation of Klarna’s payment alternatives at Simon retail locations was touted as a “strategic national alliance and multiyear cooperation” between the two companies.

“The partnership will leverage the strength of Simon’s enormous in-store shopper base with Klarna’s millions of monthly active users,” the businesses said.

Simon Teams chairman, chief executive officer, and president, David Simon, stated that discovering ways to promote “our merchants’ success while enhancing the customer shopping experience are major priority for Simon.”

“By partnering with Klarna, we’re offering our retail tenants an important advantage this holiday season and beyond: a unique method to reach new audiences who are already enjoying the simplicity that Klarna’s interest-free payment alternatives bring,” he added.

Simon, according to Klarna CEO Sebastian Siemiatkowski, “connects millions of consumers with merchants in truly meaningful and engaging ways that are redefining experiences far beyond the anticipated, every day.”

“With recent news reports saying that retail traffic is projected to exceed 2019 levels once again,” Siemiatkowski said, “we’re happy to join with Simon to further unlock in-store revenue and loyalty for retailers, and provide customers even more choices to purchase and pay how they choose.”

Aside from Klarna’s buy now, pay later and other flexible payment solutions, Klarna said it will bring a “suite of innovative performance-based digital marketing capabilities to physical retailers in Simon centres and collaborate with Simon on marketing campaigns, in-mall activations, and communication programmes to raise awareness with shoppers over time.”

In terms of future initiatives, they stated that “in the spirit of this national alliance, Klarna and Simon are planning and developing unique strategic initiatives geared toward consumers and retailers, which will bring significant added value to Klarna and Simon shoppers who shop at Simon shopping destinations.”

Simon Teams emphasised the importance of physical retail in an August conference call with analysts. According to the corporation, operating funds are on track to hit $4 billion this year. While this is 5% lower than in 2019, Simon believes that given the impact of the pandemic, the company’s financials demonstrate the robustness of its portfolio.