Fast Five Shorts | Klarna & Doordash Bring BNPL To Meal Delivery

Klarna, for the second week in a row is making our Fast 5 headlines.

They have inked a significant new partnership, and this time with DoorDash.

We've got somebody from DoorDash coming on today, one of the very first employees of DoorDash.

Sweet.

I'm very excited to talk to her.

Jessica Locks will be on.

Oh, right.

All right.

So according to CNBC, DoorDash customers can soon buy with Klarna via full payments, interest free installments or deferred options aligned with payday schedules.

Klarna said in a press release that DoorDash customers will be able to pay in full at checkout, special split payments into four equal interest free installments or deferred to dates that align conveniently with when they get paid for Klarna.

The announcement comes after it recently became the exclusive provider of Buy Now Pay later loans for one pay, the Walmart backed Fintech company.

The partnership also strengthens Klarna's position in the US Just before its anticipated debut on the New York Stock Exchange.

Chris, I have to ask.

Yes.

You were just on your phone this morning trying to figure out how to get a product in a very short amount of time.

That's right.

How long before you start using BNPL to your for your doordash deliveries?

Oh, my God.

And like, as soon as possible.

Like, is yesterday an answer two weeks ago an answer 100%.

I mean, you and I were joking about this.

I want to bring it up for the audience.

Do you remember where we were the first time we learned about bnpl?

No, you don't.

You gotta refresh my memory.

Okay.

We were@shop.org in LA.

It was September of.

There's a lot going on during.

Yeah, there was, there was a lot going on that trip, which will stay between us.

But.

But it was shop.org 2018.

We went by Sezzle.

They had a booth and somebody recognized us from Minnesota and they're like, hey, come and check this out.

And they told us about it.

And I, I got like super geeked up about it.

I was like, this is so cool.

Totally makes sense if you can make this work.

Yeah, it's all coming back to me.

Yeah.

I mean, you were like three.

You were like, you just had a baby like three months ago.

Right.

I was not.

Yeah, there's a lot happening.

Yeah.

And we had like this crazy Airbnb in the middle of downtown.

It was just, it was awful.

But anyway, great insight into, like, where the future is going that day.

And so ever since then, I think it's just it makes so much sense because it is a smarter way as a consumer to buy things because you can get interest free loans.

Yeah.

So like, why wouldn't I extend my payables?

And so you're starting to see this everywhere now.

You know, Walmart's doing it.

Doordash is doing it.

It's another great hook for doordash too, which we've talked about a while.

Like the Dash pass is very advantageous if you get your hands on one.

So I, you know, I love it.

Yeah, I think you're right.

You know what?

I think initially I was concerned about Buy Now, Pay later, about getting people into a position where now you're using Buy now, pay later for food ordering delivery.

But then I thought about it, Chris, and it's like, look at the contrast on the other side of things.

You're just putting it on a credit card.

You're building up and racking up credit card debt.

At least with this move you're, you're able to, like you said, put it into installments, align it to your payday schedule so that you're able to like have more visibility or more activity, I guess, involved in how you're spending your money.

And I think that will become more and more important.

I also think this is a big move for Klarna.

Not only now do you have visibility as a global organization into how multiple customers around the world are spending money, but now you also have visibility into Walmart shoppers, a major daily essentials shop mass merchant, that they'll have visibility to one of the biggest retailers in the United States.

And now you have visibility into how customers are switching spending on immediate gratification categories like restaurant delivery, like other things.

So I think you're just building that moat too for Klarna for, you know, the data that they have and the visibility that they have into how consumers in the world are purchasing and behavior that they're doing.

So I think it puts Klarna in a great position as they're headed for this IPO.

Yeah, 100%.

I mean, God.

Yeah.

This is like similar to the Best Buy story.

I mean, we're gonna see a lot of people starting to jump on this bandwagon too, because it's gonna be a ubiquitous way that people are gonna start to pay and want to pay and you know, our job to be the regulators.

Right.

Like, we think it's just a better way to.

It's a better way for consumers to purchase products.

The regulators can get behind it in terms of consumer protections and things like that.

Yeah.