Klarna Exec: Bitcoin Could Help Small Merchants Go Global

Brian Billingsley, KlarnaTo Klarna North America CEO Brian Billingsley, bitcoin and the blockchain hold the promise to solve many of the “great problems” affecting the payments space.

However, he says his Sweden-based company, which boasts more than 1,200 employees in 18 markets, isn’t ready to join the list of online checkout startups like Shopify and Stripe that have embraced bitcoin as a payment method. According to Billingsley, the value proposition for the technology in payments and online commerce still remains unclear.

Addressing Klarna’s bitcoin strategy at this week’s Keynote 2015 conference, Billingsley indicated that his company’s overarching goal is to remove friction for online consumers, something that today bitcoin as a digital currency doesn’t quite achieve.

Billingsley told CoinDesk:

“We’ve done internal pilots with bitcoin. We love the concept of a consumer paying with bitcoin, [but] we haven’t seen a consumer experience to date that really makes it super frictionless.”

Billingsley did indicate that Klarna is “actively tracking” the technology’s development, even speaking to Swedish regulators to determine when they may allow consumers to spend bitcoin with their more than 50,000 merchant partners.

Despite moving forward on this front, though, Billingsley stressed that he feels that bitcoin as

Read more ... source: CoinDesk