As one of Europe’s largest banks and payment providers, Klarna connects more than 60 million consumers across 130,000 merchants in 14 countries.
There are two versions of Klarna available:
Klarna Payments (KP): standalone payment methods that give your customers the freedom of choice. It lets you complement your checkout with a Klarna hosted widget located in your existing checkout.
Klarna Checkout (KCO): a complete online checkout solution designed to increase sales and customer loyalty.
Klarna’s Checkout solution is fully optimised for mobile devices and combines identification, shipping and payment modules with a number of customisable modules. Quickly identifying customers and delivering a one-click repeat payment option across the Klarna merchant network. Klarna Checkout provides a streamlined and easy to use checkout process. Thanks to an improved customer experience, with Klarna, our clients also enjoy lower basket abandonment rates and increased average order values.
How it works
The main three features of Klarna Checkout are as follows:
Identification: To check customer data such as Bank ID, billing address and user data to verify the customer.
Shipping: Klarna’s built-in shipping selector adds any shipping costs to the checkout.
Payment Selector: Allows customers to select their preferred payment method from Pay now, Pay later or Slice it, as well as external payment methods.
Within the checkout, you can also implement a custom checkbox, order list or personalisation.
The majority of our client’s favour Klarna Checkout, with longstanding clients Regis Salons and Supercuts, creating a ‘Click and Collect’ functionality for hundreds of their stores across the UK. We even have a client who has implemented ‘donations’ to encourage customers to donate to Great Ormond Street Hospital as part of their purchase journey.
Klarna presents three payment options to customers:
Pay now.
Quick, simple and secure payments for subscriptions or direct purchases.
- Includes direct debit, bank transfer and card payment options
- Support for recurring payments and subscriptions
- Payment protection on transactions, guaranteeing you always get paid
- One integration for all markets
- Klarna customers are recognised and can pay by direct debit with one click.
Pay later.
Allowing consumers to try before they buy. Pay later is a free payment delay so customers can get the goods they want and pay in 30 days after delivery.
- Interest-free 30-day payment terms
- Real-time online credit assessment
- Payment protection on transactions, guaranteeing you always get paid
- Typical AOV on Pay later transactions is £75
Pay later.
- 3 Equal instalments – every 30 days
- Fast and convenient, real-time checkout requires one-time-only entry of card details, stored for future payments.
- No interest, no fees – focused on your customer
- Automatically scheduled payments
- No risk – the merchant gets paid the full amount whilst Klarna collects funds from the customer.
- Typical AOV on Pay in 3 is £200 and available for up to £1000
Slice it.
Klarna’s financing product. Slice it offers long-term instalments to make larger purchases possible for your customers.
- Quick consumer finance options
- Real-time online credit assessment
- Payment protection on transactions, guaranteeing you always get paid
- Typical AOV on ‘Slice it’ transactions are £2,000
Our Partnership with Klarna
We’ve worked closely with Klarna for many years as our recommended solution for improving online customer payment experiences. Their unique offering provides the flexibility to provide alternative payment options and an optimised checkout to customers; something which we’ve successfully deployed for iCandy, Regis, SuperCuts, Green Reaper and Lasula to name just a few.
Easily integrated with Magento 2, Klarna is a safe, secure and flexible payment solution for merchants looking to improve conversion rates, increase average order values and deliver customer satisfaction.
Interested to see how Klarna can help improve your online store experience? Get in touch for more information.
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