Consumer financing will be available to thousands of merchants through partnerships with BigCommerce, Shopify, Magento, Cybersource, Demandware (a Salesforce company) and OpenCart.

Today, we are incredibly excited to announce the launch of our real-time consumer financing solution for the US e-commerce market. We are launching together with some of the leading players in e-commerce, including BigCommerce, Shopify, Magento, Cybersource, Demandware (a Salesforce company) and OpenCart. Through core integrations and plugins, we will make financing easily available to thousands of merchants and millions of American consumers.

Our financing solution will support merchants of all sizes to provide more consumer choice, increase consumer loyalty and drive sales. We believe our solution provides the best-in-class user experience for online consumer financing.

Financing a purchase over time has historically been optimized primarily for an offline environment. Many brick and mortar stores use financing to improve consumer choice, purchasing power and to offer loyalty programs. Although the consumer experience isn’t always great, it’s at least acceptable.

The online equivalent, however, is often an ordeal. For online consumers wishing to finance a purchase, redirects to other websites, lengthy forms, unclear information and unnecessary complexity are often the norm. In fact, for most online merchants consumer financing is not even an available option.

That’s why we have built a solution that is optimized for the online shopping experience with a particular focus on mobile commerce. We will make this tool available to all merchants, regardless of their size or segment. What we’ve learned from hundreds of millions of transactions is that when the user experience for consumer finance is smooth and easy to understand, it drives loyalty and increases sales.

Klarna has significantly simplified the application process for consumer financing. Instead of requiring input of up to 10–20 fields of personal information, as required by most credit providers, Klarna only requires a few fields of information.
 
Here’s how to use Klarna’s solution in less than a minute (all done on the merchant’s site!):

1. Add what you’d like to buy to the cart.

2. Choose Klarna at the checkout to pay over time.

3. Enter basic top of mind information.

4. Know instantly if you’re approved.

5. Complete the purchase.
 
The next time you shop with Klarna, the checkout process will be even quicker. The second purchase is a one tap experience.

For merchants, the process to integrate the financing option is just as simple. If a merchant has Klarna Checkout all they have to do is… nothing. The checkout is automatically updated to include the financing option. If a merchant does not have Klarna checkout integrated and only wants to add the financing solution, this can be done directly via the API. If the merchant is on one of the many e-commerce platforms Klarna is integrated with, you can simply enable the Klarna payment method in the admin section.

Depending on which platform they are on, merchants will be able to take advantage of the financing option later this year as the service is taken live through core integrations and plugins. Several merchants, such as shoes.com and onlineshoes.com, kule.com, fairwaystyles.com and rancourtandcompany.com, are already live with the financing solution.
 
To learn more, visit Klarna