Leading fintech company, Klarna, has unveiled an assortment of innovative features, with the standout being an AI-driven image-search tool named “Shopping lens”. Made public on Wednesday, the announcement also highlighted the introduction of shoppable videos in Europe, a novel cashback initiative, express refunds, and the capability for in-store product scanning.
“Shopping lens” stands out by granting users the power to snap pictures of products or styles they come across and swiftly pinpoint their availability online. The AI engine can visually recognize a staggering 10 million products, ranging from chic apparel to cutting-edge electronics. It matches these with an expansive 50 million store offers within the Klarna app, streamlining the user’s shopping journey. Users can not only scout for the best prices and reviews but will also discover products akin to their photographed item. Countries benefiting from this feature include the USA, UK, Germany, Sweden, Denmark, and Norway.
The concept of shoppable videos, which made its debut in the US in October 2022, has now spread its wings to the UK, Germany, and Sweden. Klarna’s vision for these shoppable videos extends beyond its identity as a payment gateway. It aims to evolve into a hub where shoppers unearth trendy items, and influencers champion their favorite products. Thanks to Klarna’s sophisticated recommendation engine, users indulge in a tailored video experience. Impressive stats from the US reveal a 60% surge in viewer duration and a 25% uptick in click-through rates since the inception of shoppable videos.
Klarna’s dedication to reinventing the online shopping experience shines through with these trailblazing features. By integrating AI, visual search, and interactive video content, Klarna is setting new benchmarks for seamless and enjoyable e-commerce encounters.
