Klarna
Klarna can be best described as a buy now, pay later (BPNL) service that provides customer financing for both online retail and in-store purchases. Available in 31 countries and growing, Klarna has its own marketplace with more than 147 million happy shoppers and a mobile application to complete purchases on the go.
Considered to be one of the best overall BNPL apps for merchants, Klarna facilitates integration with several third-party systems such as BigCommerce, Shopify, and more. The payment processing platform of Klarna helps businesses provide a secure checkout experience to customers with several payment methods. It offers multiple financing options including Pay-in-4, pay in 30 days, or 6- to 36-month plans. Overall, Klarna is a good choice for high-revenue businesses, businesses processing international sales, small and growing businesses, and retailers looking for seller protection.
One of the best things about Klarna is its seller protection program under which all fraud and credit risk is borne by Klarna when its financing services are utilized by customers. In other words, businesses get paid in full when purchases are made and they are not responsible to collect payments or issue late fees.
Klarna Merchant Pricing
Monthly service fees: $0
Processing fees: 3.39%–5.99% + 30 cents
Application and sign-up: $0
Onboarding fees: $0
Payout schedule: Determined in contract based on needs
Risk: 0%
APRs: 7.99% to 29.99%
Repayment term: Six weeks to 24 months
Late fees: $7 to $35
Funding timeline: Instant
Compatible payment providers: PeachPay, Gr4vy, Stripe, Adyen, Digital River, Radial, and Cybersource
Compatible eCommerce platforms: Adobe Commerce, BigCommerce, Cirkuit Commerce, Episerver, PrestaShop, Salesforce Commerce Cloud, Jibe, Wonderkind, Wix, WooCommerce, SAP, and Shift4Shop.
Deployment Options: Cloud, SaaS, Web-based, On-Premise Windows, and On-Premise Linux
Klarna support: 24/7 (Live rep), FAQs/Forum, and Knowledge Base
- Year Founded: Klarna was founded in 2005.
- CEO: The CEO of Klarna is Sebastian Siemiatkowski.
- Headquarters: Klarna is headquartered in Stockholm, Sweden. They also have offices in New York City.
Why Choose Klarna?
- Flexible Payment Options: Klarna offers a variety of payment solutions for online storefronts. Their service allows online consumers to pay for items in installments.
- Interest-Free Payments: Klarna doesn’t charge interest on their Pay in 4 option, and there are no fees when you pay on time.
- Consumer-Centric Approach: Klarna puts consumer needs at the heart of their business.
- Safe and Secure: Klarna’s “Buy Now, Pay Later” brought a whole new level of trust and security to the online experience.
- Global Presence: Klarna is a global financial technology company providing online financial services to over 60 million consumers across 14 countries.
Risk Appetite
Processing currencies: EUR, GBP, USD
Settlement Currencies: EUR, GBP, and USD
Features
Recurring Payments
Solutions
Online Payments
Accepted Industries
E-commerce, Financial Services, Gambling, Gaming, Hospitality, and Travel
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