GameStop puts flex payments into play

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GameStop puts flex payments into play

By Dan Berthiaume - 10/29/2020

GameStop Corp. is letting customers pay tomorrow to play today.

The video game retailer is providing shoppers access to the Klarna buy now, pay later omnichannel payment service. GameStop customers can now make purchases at GameStop’s more than 3,300 U.S. stores, e-commerce site and mobile app in four equal, interest-free installments via the Klarna platform.

GameStop will also be featured in “Playing for Keeps,” Klarna's immersive, gaming event series which is being livestreamed on the Twitch video streaming service Oct. 29. The event gives gamers of every level the opportunity to play against pro gamers SypherPK and KittyPlays. All of the items in the gaming rig, including consoles, gaming chairs, accessories and apparel, will be winnable and removed in real time piece by piece with each challenger's win. Players will also receive unique promo codes for GameStop products and have access to shoppable gaming wishlists. 

"Today's announcement represents one of the many steps we are taking to better serve our customers," said Chris Homeister, chief merchandising officer for GameStop. "Partnering with Klarna is part of GameStop's strategy in continuing to build out the capabilities and services of our global digital and in-store ecosystem to offer customers a broad spectrum of payment options to quickly and affordably purchase the video game and pop culture merchandise they are looking for this holiday season and beyond." 

For Klarna, partnering with GameStop is an opportunity to gain exposure in the rapidly growing e-sports category, which gaming analytics firm Newzoo estimated reached revenues of $1.1 billion in 2019. Other retailers that have recently deployed Klarna’s installment payment technology include Etsy, Macy’s, and Sephora.

"The e-sports business has grown tremendously in recent years with the rise of streaming services and other technologies tailored to this space," said David Sykes, head of U.S. at Klarna. "Recognizing the continued growth of the gaming community and its increasing influence in mainstream culture, we're thrilled to introduce Klarna's flexible payment options to GameStop customers as well as connect with them in a unique and meaningful way through our Playing for Keeps campaign. We also aim to drive new traffic from our nine million shoppers to GameStop, whether they prefer to shop in-store or online."