Klarna & installment plans -
One of the biggest concerns that merchants face is the need they can offer installment plans or payment options to the customers they sell to.
Traditionally, the answer is to utilize the flexibility of our subscription-based products and limit the number of payment options. But, even though this gives tremendous advantages to the seller and buyer, we felt there was an easier solution.
Enter Klarna!
We're very pleased we can offer Klarna as payment option. Klarna is a method of payment that offers any of the following payment options:
- Pay right now. It's a quick payment, but it is made through the purchaser's Klarna account (similar the way a purchaser is able to make use of the PayPal account to make a payment for their purchase).
- Pay now and buy later. The buyer gets their item now, but is able to pay at a later time (e.g. within thirty days).
- Pay in the amount of X. This is an interest-free payment program that lets the buyer decide to pay for the purchase in 3 or 4 installments.
- Financing. In some countries, financing can also be an option for buyers to buy the product.
The purchase options Klarna offers to the customer will depend on both your location, as the seller, as well as the buyer's area of operation.
For example, if you and your customer reside in the US or Canada, Klarna can offer an installment plan that includes 4 installments that are interest-free.
Another example is if you are both based in the UK and both reside in the UK, they could also be offered a 'Buy now, pay later' option that allows the buyer to receive their download links immediately, but has to pay for it on a later date.
Products that are expensive
The installment plan is the best option to purchase expensive products like online courses or coaching services that could easily cost hundreds of dollars.
Offering an easy and reliable installment plan opens up your business to a new audience.
Payments
Klarna not only Klarna provide payment options to expand your reach in the market They also manage all aspects of the payment process for buyers.
The result is you don't have to think about collecting buyer's payment or ensuring they complete the installment program. Klarna takes care of it for you.
As the seller will receive the full payment upon completion of the check-out. Klarna is then in contact with the buyer to collect payments according to the timeframe agreed upon.
More sales and less worry! This is a great win for every seller.
Support
As you've come to expect, our help articles take you step-by-step through every step, and the process of integrating Klarna into your Stripe account isn't any different:
If you have any questions or feedback, or just would like to wish us a Happy Holidays We'd love to get in touch with you!