Klarna & installment plans -
The most frequent concerns that merchants face is the need they can offer installment plans or payment options to the customers they sell to.
In the past, the solution was to take advantage of the flexibility offered by our subscription-based services and limit the number of payment options. But, even though this gives tremendous advantages to the merchant and the buyer however, we thought there should be a better solution.
Enter Klarna!
We are very excited we can offer Klarna as a payment method. Klarna is a type of payment that offers either one or both choices for paying:
- Pay now. It's a quick payment but through the buyer's Klarna account (similar as how buyers could use PayPal to make a payment for their purchase).
- Purchase now, pay later. The buyer is given their goods now and will pay later (e.g. in thirty days).
- Pay in Pay in. It is a zero-interest payment option that allows the purchaser to opt to pay for the purchase in 3 or 4 installments.
- Financing. In some countries, financing could be a possibility for buyers to buy the product.
The options for purchasing Klarna offers to the customer depends on your place of residence, which is the seller, as well as the buyer's location.
For example, if you and your buyer reside in the US or Canada, Klarna can offer an installment plan with 4 free interest payments.
Another example is if you both reside in the UK or the United Kingdom, you may have an 'Buy now and pay later' plan where the buyer receives their download links immediately, but pays on a later date.
The most expensive products
A installment plan is ideal for products that are more expensive, such as online courses or coaching services that could easily cost thousands of dollars.
Being able to offer an affordable and solid installment program opens your products to a whole new customer base.
Payments
In addition, Klarna provide payment options to expand your reach in the market They also manage everything related to the payment process for buyers.
The result is you don't need to worry about collecting the buyer's payments or even ensuring that they meet their installment plan. Klarna takes care of it for you.
You, as the merchant, receive payment in full upon completion of the check-out. Klarna then deals directly with the buyer to collect payments on the agreed schedule.
Increased sales, less stress! We think that's a win for all sellers.
Support
As you've come to expect from us, our articles on help take you step-by-step through any process, and integrating Klarna into your Stripe account is no different:
If you have questions or feedback, or need to say happy Holidays, we'd love to be in touch!