European PF Klarna Continues UK Expansion

An increasing number of online shoppers in the UK can now indulge in their shopping desires today and pay for them over time, by financing their purchase when they check out.

Swedish payment facilitator Klarna is expanding availability of its ecommerce financing solution to reach more UK consumers through new agreements with Worldpay, BigCommerce, Shopify and CyberSource, according to a report in BankingTech.com.

Klarna offers a “Buy Now Pay Later” payment option that is made available to qualifying shoppers during the checkout process. According to the company, consumers opting to pay for their purchase later can complete a few fields during checkout without leaving the merchant’s site. The shoppers go directly to Klarna when they’re ready to pay.

In August, Klarna told PaymentFacilitator.com that its model is particularly appealing to millennials, who value control over their experiences:

“I just don’t think millennials love being tied to one thing, a card or a specific brand. That’s where Klarna plays in incredibly well. We’re the right payment option at the right time.” CEO Brian Billingsley said.

These latest agreements follow on the heels of an agreement Klarna made earlier this year with Arcadia, a UK retail company that operates the brands Topshop and Miss Selfridge.

 

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