38% of shoppers use buy-now-pay-later payment terms for purchases that would otherwise not fit their budget. According to CB Insights, installment plan transactions are forecast to grow 10 – 15x to $1T by 2025.
Klarna gives online consumers a number of options to delay payments for purchases from subscribed retailers. They can choose between splitting purchases into four interest-free installments spread over two months, paying the full amount interest-free after 30 days, or using 6 – 36 month credit finance.
Klarna’s flexible payment options have a number of advantages for merchants and marketplace platforms:
Klarna is the leading buy-now-pay-later technology among the world’s top million sites:
Curated beauty product marketplace, Sephora, wanted to make its products more accessible for younger audiences. After implementing Klarna’s flexible payment plans the AOV of online purchases rose by 35%.
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