PubMatic has teamed up with Klarna to help the payments and shopping assistant company scale its native advertising inventory. Klarna will be using PubMatic’s Convert platform.
Terms of the deal were not disclosed, but the companies said in a statement that the partnership “will allow advertisers to reach and engage with Klarna’s high-intent global audience of 150 million shoppers directly at the point of purchase.”
The companies are rolling out the integration in the U.S. first, and then in Europe. For advertisers, the integration offers click-through rates that are three times higher than the industry average.
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David Sandstrom, chief marketing officer at Klarna, said the company’s aim “is to offer consumers a relevant, personalized and smooth shopping experience while being a growth partner to retailers. By partnering with PubMatic, we are excited to leverage the power of programmatic advertising to connect brands with the world’s most engaged shoppers at scale and create efficiencies in their media buys.”
Programmatic advertising is an automated process involving the buying and selling of digital ads. The aim is to rapidly deliver ad impressions to relevant consumers thereby driving conversions.
“Our partnership with Klarna unlocks tremendous opportunity for advertisers seeking to drive high-performance campaigns at a time of disruption in the digital advertising ecosystem,” said Hashim Mian, vice president of commerce media at PubMatic. “Buyers now have the opportunity to engage active shoppers, particularly valuable Millennial and Gen Z audiences, directly at the coveted point of purchase. We look forward to growing our partnership with Klarna and creating meaningful connections between advertisers and consumers.”
Klarna’s e-commerce community includes 37 million shoppers in the U.S. and 550,000 retail partners. The company sees more than 2.5 million transactions per day and its programmatic advertising offering “rounds out its full suite of media solutions that encompass affiliate, search and influencer marketing, helping advertisers reach shoppers across the complete consumer journey, from awareness to consideration and conversion,” Klarna said.