Alternative Payment Solution: Klarna
Klarna is a Swedish online payment service provider (PSP). Established in 2005, the company now serves 60 million customers and is accepted by over 70,000 online merchants across 13 European markets and the US.
The company offers both immediate and pay-later options for e-commerce purchases, allowing customers to make payments within 14 days of receiving the items purchased. It also offers an extended credit financing option called Divide or Slice it, through which users can make payments in monthly instalments of up to 36 months. Klarna acts as a mediator between merchants and buyers and assumes the fraud and credit risk involved in transactions.
In November 2017 Klarna partnered with Nordic-based PSP Nets, to provide its customers with a pay-later solution at physical stores throughout the Nordic region. The company entered the P2P payment space in August 2017 with the launch of Wavy, an app that allows users in 31 European countries to send and request money by connecting their bank accounts or credit cards.
The report provides information and insights into alternative payment solution Klarna, including -
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