Klarna & installment plans -
One of the most common concerns that merchants face is the need to offer installment or payment plans for the customers they sell to.
Traditionally, the answer was to take advantage of the flexibility of our subscription-based services and reduce the amount of payment options. But, even though this gives tremendous advantages to the merchant and the buyer We felt that there must be an easier solution.
Enter Klarna!
We're very pleased we can offer Klarna as a payment method. Klarna is a method of payment that offers any of the following options for payment:
- Pay Now. This is a fast payment but through the buyer's Klarna account (similar the way a purchaser could pay with PayPal to pay to purchase).
- Pay now and buy later. This is where the buyer is given their goods now and will pay later (e.g. within thirty days).
- Pay in the amount of X. It is a zero-interest payment option that allows the purchaser to opt to pay for the item in 3 or 4 installments.
- Financing. In some countries, financing could be a possibility for buyers to buy the product.
The payment options Klarna displays to the buyer depends on your location, as the merchant, and the buyer's place of residence.
In the case of example, if you and your customer are based in the US or Canada, Klarna can offer an installment plan that includes 4 installments that are interest-free.
Or another example, if you both reside in the UK or the United Kingdom, you may offer the 'Buy Now, Pay later' choice where the buyer receives their download link immediately but pays in a future date.
Products that are expensive
A installment plan is ideal for products that are more expensive, such as online courses or coaching services which can easily become thousands of dollars.
The ability to provide a simple and robust installment program opens your products to a whole new audience.
Payments
Klarna not only Klarna offer payment options that expand your reach in the market However, they also take care of all aspects of the payment process for buyers.
This means you don't have to think about collecting buyer's payment or making sure they follow their installment plan. Klarna does that for you.
You, as the merchant get paid in full immediately on completion of the payment. Klarna will then contact the customer to collect the payment in accordance with the set schedule.
Increased sales, less stress! It's an ideal situation for every seller.
Support
What you've come accustomed to from us, our articles on help take you step-by-step through every step, and the process of integrating Klarna through your Stripe account isn't any different:
If you have questions or feedback, or need to say happy Holidays We'd love to be in touch!