Klarna & installment plans -
One of the most common concerns that merchants face is the need to provide installment or payment plans for customers.
In the past, the solution was to take advantage of the flexibility offered by our subscription-based services and reduce the amount of payment options. But, even though this offers amazing benefits to both the merchant and the buyer We felt that there must be an easier solution.
Enter Klarna!
We're thrilled we can offer Klarna as an option for payment. Klarna is a method of payment that offers any of the following options for payment:
- Pay now. This is an instant payment but through the purchaser's Klarna account (similar to how a buyer is able to make use of Paypal to pay to purchase).
- Pay now and buy later. The buyer receives their product now but is able to pay at a later time (e.g. after thirty days).
- Pay with the amount of X. It is a zero-interest payment plan where the buyer can choose to purchase the item in 3 or four installments.
- Financing. In some nations, financing may be a possibility for the buyer to purchase your item.
The purchase options Klarna offers to the customer depends on your location, as the retailer, as well as the purchaser's place of residence.
In the case of example, if you and your buyer are based in the US, then Klarna offers the option of installment plans with four installments that are interest-free.
Another example is if you are both based in the UK and both reside in the UK, they could offer the 'Buy Now, Pay later' option in which the purchaser receives download link immediately but has to pay for it in a future date.
High priced products
The installment plan is the best option to purchase expensive products like coaching or online classes which can easily become hundreds of dollars.
Being able to offer an easy and reliable installment program opens your product to a new audience.
Payments
In addition, Klarna have payment options to boost your marketing reach They also manage all aspects of the buyer's payment.
So, you won't have to be concerned about collecting the buyer's payments or ensuring they complete their installment plan. Klarna takes care of it for you.
You, as the merchant, receive payment in full at the time of checkout. Klarna will then contact the purchaser to collect payment according to the timeframe agreed upon.
A lot more sales and less anxiety! We think that's a win for any seller.
Support
Like you've come to anticipate from us, our articles on help take you step-by-step through any process, and integrating Klarna with your Stripe account is no different:
If you have any questions or feedback, or want to say Thank You or Happy Holidays we'd like to hear from you!