Stripe users in U.S. and 19 European countries can now boost conversions and increase revenue by offering Klarna as a payment option to their customers. Klarna will also use Stripe to accept payments from consumers in the US and Canada.
Klarna, the shopping and flexible payment provider, today announced a strategic partnership with Stripe, a global technology company building economic infrastructure for the internet.
„The partnership will allow millions of businesses running on Stripe to offer Klarna’s flexible payment options to their consumers,” according to the press release.
In recent years, consumers around the world have gravitated to popular “Buy Now Pay Later” payment options, which allow them to receive products immediately while spreading their payments out over time.
„For businesses, offering this flexibility can dramatically increase conversions and boost revenue,” Klarna says.
„In fact, Klarna’s research found that businesses offering Klarna at checkout generated a 30% average increase in conversion and a 41% increase in average order value. Some retailers discovered that 40% of Klarna shoppers were new to their brand, allowing them to win entirely new customer segments,” the company explains.
Koen Köppen, Chief Technology Officer at Klarna, said: “Over the past years, Klarna and Stripe redefined the e-commerce experience for millions of consumers and global retailers. Together with Stripe, we will be a true growth partner for retailers of all sizes, allowing them to maximize their entrepreneurial success through our joint services. By offering convenience, flexibility, and control to even more shoppers, we create a win-win situation for both retailers and consumers alike.”
Today’s announcement also includes a deeper collaboration between Klarna and Stripe. Stripe is now Klarna’s preferred payments partner for consumer purchases—meaning that, after a customer’s initial purchase from a retailer is funded by Klarna, the subsequent repayments are all processed by Stripe as well.
After initial tests with Stripe yielded significant improvements in reliability and performance, Klarna decided to shift even more of its payments volume to Stripe than initially planned. Klarna will now rely on Stripe to process the majority of its payment volume in the US and Canada.
“We’re thrilled to partner with Klarna so that millions of businesses on Stripe globally can offer increased payment flexibility,” said Will Gaybrick, Chief Product Officer at Stripe. “Klarna’s payment options are a powerful tool for online businesses to attract more customers, boost conversion rates, increase basket sizes, and thus grow their revenue.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
