In the US, automotive service payment systems of dealerships will be expanded by jointly working of Klarna and Tekion, through integrating the payment platform of Klarna with Tekion Pay, a built-in payments platform of Tekion’s AI-based Automotive Retail Cloud (ARC), as the two companies. With this partnership, dealership customers will have the opportunity to use Klarna’s Pay in Full, interest-free Pay in 4, as well as longer-term financing options when they are buying service, e.g. spare parts and maintenance, directly at the point of sale.
Also Read: Corpay Launches AI Capabilities to Streamline Financial Operations
The collaboration aims to present consumers with well-structured repayment plans and set payoff schedules as a substitute for credit card revolving debts. Since Tekion’s ARC platform is delivering services to thousands of dealerships and handling millions of customer transactions every year, this partnership will A lot enhance Klarna’s presence in the automotive retail payment market.”When you’re paying for a repair, you deserve to know exactly what you’re committing to. Klarna gives customers a fixed schedule and a clear payoff date, a straightforward alternative to carrying a revolving credit card balance,” said David Sykes, Chief Commercial Officer at Klarna. “Tekion already sits at the center of how thousands of dealerships operate, which makes them the right partner to bring that choice to the service lane at scale.”
