Klarna has chosen Milkywire as their strategic sustainability partner to launch Klarna’s “Give One” initiative to help the planet. Let’s look at the tech surrounding both of these companies.
What is Klarna?
Klarna, short for Klarna Bank AB, is a Swedish banking firm that works with retailers to allow customers to make flexible payments on their purchases.
Every customer has seen something they want, but they don’t have the money to buy it or don’t want to drop a certain amount of money on it all at once. Klarna allows customers to pay over time. For those who are worried about interest, they have the option to pay four interest-free payments. Klarna also has instant approval, and it doesn’t have any impact on one’s credit score.
Klarna has worked with over 250,000 retailers and counting. They work with big names such as IKEA, Expedia, Samsung, and more. They also work with smaller names, too. Since 2005, they have worked to make paying for your items easier.
Besides financing your purchases, they are known for their app, which can help you see the latest deals. Their app is known for being an all-in-one shopping app, helping users who feel overwhelmed by the number of stores online.
What is Milkywire?
Milkywire is a newer company, founded in 2018 as opposed to Klarna’s 2005 founding. The platform is designed around making donating to charity much more trustworthy and engaging. The charity organizations selected by Milkywire are carefully chosen and are audited for clarity.
Many of their organizations are dedicated to solving planetary crises and other environmental issues one may be concerned about.
Milkywire is usable through its website and also its app. One way it stands out over other charity organizations is that the app shows you video updates. You can see what the experts are doing with your money, and the app gives you a chance to connect to them as well. The feature gives users trust in who they donate to.
The appeal of Milkywire is quite obvious. For people looking to give, the world of charities can be confusing, and many bad players will pocket the money for themselves.
Milkywire hopes to connect people with charities they can trust and show them how their donations are paying off.
Milkywire came to be when the founder, Nina Siemiatkowski, worked with some nonprofit organizations and saw what an amazing job they were doing and how underfunded they were. Nina founded Milkywire to make it easier to fund the organizations and causes one is most passionate about.
Klarna’s Give One Initiative
Give One is focused on reducing the damage climate change has done to the planet. It accomplishes the goal by making it easier for people to donate and for users to track their carbon footprint.
Give One is investing $10 million into climate change solutions and biodiversity, and as of 2021, 1 percent of funding rounds will go to planet health initiatives.
One way the partnership will help improve climate change is by helping Klarnas users to track their carbon footprint
With the Klarna app, you can track your carbon footprint and see how much CO2 is emitted with your purchase. Klarna hopes to make it easier for you to make purchases that are greener for the environment. Klarna also invites its users to donate to the same causes as they, themselves, are donating to.
CMO at Klarna, David Sandstrom, said his goal was to “simplify the act of doing good.” It was inspired by Klarna’s ability to simplify payment plans for purchases online. Sandstrom said he was inspired by Milkywire’s shaking up of the donation world by helping organizations connect with tech.
The Future of Milkywire and Klarna
With this strategic partnership, companies and consumers alike may be inspired to be more mindful of the environmental impact of their purchases.
Milkywire has made it easy to see where your donations are going, and the partnership makes it easier to see what environmental impact your purchases have. While purchasing online can save you a drive, some environmental issues can arise depending on where you buy it from.
One company’s partnership will not save the world, but we hope both companies will inspire others to improve our world and do as much good as possible.