Swedish fintech company Klarna has announced a partnership with Stripe, a global payments company. Retailers can now add Klarna to their payment methods. With Stripe’s infrastructure, Klarna can now accept credit card payments from consumers in the US and Canada.
Klarna is known for its ‘buy now, pay later’ solution and has been expanding across Europe during the past years. Stripe provides software to companies to accept web and mobile payments. Now, both companies announce a partnership.
Retailers can seamlessly integrate Klarna’s payment methods
Koen Köppen, Chief Technology Officer at Klarna: “Over the past years, Klarna and Stripe redefined the ecommerce experience for millions of consumers and global retailers. Together with Stripe, we will be a true growth partner for our 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.”
‘We create a win-win situation for retailers and consumers.’
Retailers using Stripe to control their payments, are now able to seamlessly integrate Klarna’s payment methods in all markets where Klarna is active: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, the Netherlands, Norway, Slovakia, Slovenia, Spain, Sweden, the United Kingdom and the United States.
Sales increase of 27%
According to a press release, the first results of retailers using Stripe indicate that the integration of Klarna’s payment method led to a 27 percent increase in sales on average. They also noted a 41 percent growth in average order volume and a 36 percent increase in purchase frequency, which led to an increase in revenue.
Klarna users find new retailers in app
Klarna’s consumer app has more than 18 million monthly users. Shoppers use the app to find new retailers, which now include retailers that use Stripe. They noticed that up to 40 percent of Klarna shoppers are new to their brand.
Retailers noticed that 40% of Klarna shoppers are new to their brand.
“We’re thrilled to partner with Klarna so millions of businesses on Stripe globally can offer increased payment flexibility”, says 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.”