Klarna Brings Instant Financing Options to Shopify’s Online Merchants

Good news for thousands of online merchants in the U.S., U.K., and several other European countries, as they can now offer instant financing options to their customers courtesy of an integration between Klarna and Shopify.

Klarna has earned a reputation as one of the globe’s most innovative payment providers, and it has teamed up with Shopify, a leader in cloud-based, multi-channel commerce platforms for SMBs.

The completion of tech integration between both respective companies means that merchants in crucial European markets and the U.S. whose businesses are powered by Shopify, can today offer flexible financing options, with credit and debit cards to boot.

Depending on the particular country involved, these options include flexible or fixed rate monthly payments, promotional interest rates and in Europe, the chance to delay payment for nearly 14 additional days at no extra cost.

“Today’s consumers want flexible purchasing and financing options and our integration with Klarna provides another alternative for our merchants,” said Mo Hashemi, Sr. Product Manager, Payments, at Shopify. “We’re always looking for ways to reduce friction at checkout and are excited about Klarna’s new offering.”

Online financing for consumer purchases is for the most part a new idea, as consumer recognize the experience via brick and mortar locations. Klarna’s online process, easily integrated into the merchants’ checkout processes, need only a few fields of information and notifies customer if they qualify for financing. This process is much quicker and more efficient than competing services who are plagued with redirects, lengthy forms, and muddled information.

“Klarna is dedicated to helping merchants provide flexible financing and payment options to consumers wherever and however they shop,” said Jim Lofgren, GM Klarna North America. “Our integration with Shopify will expand our reach to online stores throughout North America and Europe looking for ways to improve their customers’ online and mobile shopping experiences.”