Pre-contractual document related to “Pay in 30 days”

1. Information on Klarna Bank AB (publ)

Denomination: Klarna Bank AB (publ) (“Klarna”)

Registered office:

Italian Office: Via San Marco, 21, 20121 Milan

Headquarters: Sveavägen 46, SE-111 34 Stockholm, Sweden

Klarna Bank AB (publ) is incorporated under Swedish law and is registered with the Swedish Companies Registration Office.

Telephone No.: 023 792 12 40 (charges may apply depending on the conditions and service covered by your telephone service provider).

Other contact: https://www.klarna.com/it/servizio-clienti/

Website: www.klarna.com/it/

Klarna Bank AB (publ) is incorporated under Swedish law and is registered with the Swedish Companies Registration Office. Its organisation number is 556737-0431. Klarna Bank AB (publ) is authorised to provide financial services by Finansinspektionen (the Swedish Financial Supervisory Authority) in Italy.

2. Characteristics of the product and typical risks

“Pay in 30 days” is a credit that allows you to pay thirty (30) days after the shipment of the goods/availability of the service by choosing Klarna as your payment method. The card you added at the point of purchase will be charged, thirty (30) days from the shipment of the goods/availability of the service.. The “Transaction Amount” is the value of your purchase. There are no interest charges with Pay in 30 days, and no fees when you follow your automatic payment schedule. If you are delayed in making a payment, we may charge late fees. Any missed instalments, including any added late fees, will be rolled over to the next scheduled due date.

Payment is made by valid debit or credit card issued to you (no prepaid cards).

“Pay in 30 days” is a credit. A credit is a binding commitment and shall be reimbursed. If you miss a repayment this could have severe consequences for you, and Klarna can, amongst other actions: (a) charge the outstanding balance, including late fees, on your Pay later in 30 days purchase immediately, using any card we have on file for you or by a separate invoice; (b) employ a debt collection agency to receive payment and you will have to pay all reasonable costs (including attorney’s fees) incurred by Klarna and/or the debt collection agency; and (c) report default information to credit reporting agencies. Late payments, missed payments, or other defaults on your purchase may be forwarded to the credit reference agency and be reflected in your credit report which could impact your credit score.

3. Financial conditions

Main costs
Credit amount	The credit amount will be in Euro and will correspond to the Transaction Amount plus shipping costs, taxes, currency conversion if applicable, as well as any other fees or costs charged by the merchant. The card you added at the point of purchase will be charged, thirty (30) days from the shipment of the goods/availability of the service.
Interests	Interest-free
Late fees	Yes. If you fail to make a payment by the end of the courtesy slack period you will be in default, and in addition to other rights we have, we may charge you a late fee amounting to the following: i) three (3) EUR if the total order value is below 100 EUR, ii) five (5) EUR if the total order value is between 100-199.99 EUR, iii) eight (8) EUR if the total order value equals 200 EUR or above, or the maximum amount permitted by applicable law if lower In the event that no payment is received by Klarna after reminder, the debt will be sent to debt collection where other debt collection fees might be added.
Early repayment	You can pay any remaining payments at any time and we will not charge you for doing so. If you cancel your purchase we will cancel any remaining payments and pay back to your card any amounts we have taken.
Annual percentage rate of charge (APR)	0%

4. Main contractual clauses regulating the product

The main clauses of the Pay later in 30 days Terms, include but are not limited to the following:

You must be 18 years old, an Italian resident, and capable of entering into a legally binding contract.
If you cancel your purchase or return your goods we will automatically waive the amount you owe us (as soon as this has been confirmed by the merchant). If you already paid us for a refunded order, we will refund the amount you paid back to you.
You give us the authority to take the payment from your card on the due date without any further notice to you.
You authorize us to store your card details on our systems. We will use this information to authorize future payments under these Terms.
You will be in default if you: (a) fail to make any payment by the due date after any applicable slack period(s); (b) supply false, misleading, or incorrect information to us; or (c) violate or are unwilling to comply with any provision in the payment option terms.
You can pay any remaining payments at any time and we will not charge you for doing so. If you cancel your purchase we will cancel any remaining payments and pay back to your card any amounts we have taken. Any part returns or refunds credited to your purchase will reduce your outstanding balance, but do not count as payments.
Klarna processes your personal data in order to carry out our obligations in this agreement and for the additional purposes set out in our Privacy Notice. The Privacy Notice is available here, and on our website.
To the extent required by applicable law, our contractual relationship with you derived from this payment option shall be governed by Italian law. Any disputes arising from or in connection with this payment option shall be subject to the courts of your domicile.

5. Complaints

For complaints regarding the Klarna Services, the information provided on https://www.klarna.com/it/ applies.

If you have a complaint towards Klarna, you can submit your complaint to Klarna’s complaints office by regular mail to Klarna, Sveavägen 46, 111 34 Stockholm, or by e-mail to service@klarna.com.it. We will try to solve your complaint as soon as possible and in any case within 14 days. If we are unable to solve your complaint, or you have been dissatisfied with Klarna’s response, or have not received a response within the said time limit, you may choose between the following two routes to pursue your claim:

You may address it to the Italian Banking Financial Arbitrator (Arbitro Bancario Finanziario or “ABF”). In a nutshell, the ABF is an alternative dispute resolution (ADR) institution which is frequently used by customers in Italy because it is generally speedier and cheaper than the Court. Should you be dissatisfied by the ABF’s resolution or should Klarna not comply with a resolution which is favorable to you, you may still go to Court. For further information about the ABF you can either consult the website www.arbitrobancariofinanziario.it or enquiry the Branches of the Bank of Italy or Klarna;

You may opt for the Court route rather than the arbitration alternative above, but you are obliged to first attempt finding a solution through a mediation procedure which you may start with:

The Italian Banking Financial Mediator (Conciliatore Bancario Finanziario or “CBF”). For further information about the CBF, please consult the website www.conciliatorebancario.it; or

One of the other available mediation bodies which are specialized in banking and financial matters, registered in the special register held by the Italian Ministry of Justice.