FinTech: The Klarna-Vivid Seats Tie-Up To Offer Event Tickets On ‘Pay Later’ Basis
As in-person events inevitably return, fans can soon get their hands on tickets using a buy-now-pay-later (BNPL) option.
Global fintech Klarna and event tickets platform Vivid Seats today announced a partnership to offer a flexible payment facility at checkout to fans buying tickets. The companies are looking forward to a revival in demand for tickets to live, in-person sporting, concert, and entertainment events. A Klarna survey found that 69% of consumers plan to attend in-person events in the next six months and 70% are willing to spend more now than they would have prior to the pandemic to have a memorable in-person entertainment experience. (CISION PR Newswire)
“It’s no shock that we’re seeing a lot of pent-up demand for customers to attend live concerts and events again,” said David Sykes, Head of North America at Klarna, in a statement. “We’re excited to partner with Vivid Seats to enable millions of fans to purchase their tickets with flexibility and reconnect with their favorite artists and sports teams in person.”
Klarna is offering Vivid Seats users the option to pay in interest-free instalments via its “Pay in 4” option.
Klarna and the BNPL space
At $45.6 billion, Klarna is one of the most highly valued private fintechs globally. Of late, there has been a spate of deal-making in the fintech-BNPL space.
Earlier this month, Goldman Sachs (NYSE: GS) announced its all-stock acquisition of GreenSky (NASDAQ: GSKY), a fintech lender specializing in BNPL home improvement loans, for $2.24 billion.
In August, Jack Dorsey-led Square (NYSE: SQ) acquired Australian fintech and buy-now-pay-later (BNPL) leader Afterpay (ASX: APT) for $29 billion in an all-stock deal. The same month, Affirm (NASDAQ: AFRM) announced it is partnering with Amazon (NASDAQ: AMZN) on a buy-now-pay-later (BNPL) solution to be made available by Affirm to Amazon.com customers.
Previously, PayPal (NASDAQ: PYPL) acquired Paidy, a Japanese payments platform and BNPL provider for ¥300 billion or approximately US$2.7 billion, principally in cash.
Related Story: Macy’s Offers Klarna’s “Pay In Four” BNPL Payment Option
Image Credit: Vivid Seats
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