Klarna & installment plans -
One of the most common queries that sellers face is on how to provide installment or payment plans to the customers they sell to.
The traditional approach is to utilize the flexibility offered by our subscription-based offerings and limit the number of payments. While this provides tremendous benefits for both the merchant and the buyer however, we thought there should be an easier solution.
Enter Klarna!
We are very excited we can offer Klarna as an option for payment. Klarna is a type of payment that offers either one or both choices for paying:
- Pay now. It's a quick payment made via the buyer's Klarna account (similar to how a buyer can make use of PayPal to pay for their purchase).
- Purchase now, pay later. It is when the customer gets their item now, but will pay later (e.g. in 30 days).
- Pay in Pay in. It is a zero-interest payment program that lets the buyer decide to pay for the product in three or 4 installments.
- Financing. In some countries, financing could be an option to customers to purchase the product.
The purchase options Klarna offers to the customer is contingent on both your place of residence, which is the retailer, as well as the purchaser's area of operation.
In the case of example, if you and your buyer reside in the US and you are based in the US, Klarna can offer an installment plan with 4 interest-free payments.
Or another example, if you are both based in the UK or the United Kingdom, you may offer the 'Buy Now, Pay later' plan that allows the buyer to receive their download links straight away but has to pay for it on a later date.
Products that are expensive
A installment plan is ideal for products that are more expensive, such as coaching or online classes that can quickly turn into several hundred dollars.
Being able to offer an affordable and solid installment plan allows you to open your product to a new audience.
Payments
Not only does Klarna have payment options to boost your marketing reach They also manage everything related to the buyer's payment.
This means you don't have to be concerned about collecting buyer's payment or even ensuring that they meet their installment program. Klarna takes care of it for you.
As the seller, receive payment in full upon completion of the payment. Klarna then deals directly with the purchaser to collect payment according to the timeframe agreed upon.
More sales and less worry! We think that's a win for all sellers.
Support
As you've come to expect, our help articles provide step-by-step instructions for each step of the way, and connecting Klarna through your Stripe account is no different:
If you have questions or feedback, or just would like to wish us a happy Holidays We'd love to get in touch with you!