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.
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. 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.
By partnering with Stripe, Klarna will now make its flexible payment options available to millions of internet businesses already using Stripe across the US and 19 countries in Europe.