Klarna, the AI-powered global payments network and shopping assistant has expanded their partnership with Woo, the flexible, open-source e-commerce solution built on WordPress, by making Klarna a default payment option for merchants using WooPayments.
Under the expanded partnership Klarna will aim to become a network of choice, offered as a “default payment method” to WooPayments’ merchants globally, alongside traditional card payments.
WooCommerce is one of the world’s e-commerce platforms, powering “more than 4 million online shops.”
As consumers continue to choose new payment methods that suit their spending behaviors, Klarna is on a mission to be “available at every checkout.”
The collab with WooPayments is a step in making that goal a reality, transforming Klarna from an ‘alternative’ payment option, “added on the request of a retailer, to a convenient default method which retailers expect.”
Klarna offers consumers a choice of ways to pay including “immediate payments, short-term, interest-free BNPL and longer-term financing.”
Globally, about 30% of the payments Klarna processes “are immediate payment.” With the rise of these flexible payment options, consumers are now in a better position to afford various products and services. However, it can still be challenging to manage one’s spending and finances if you’re not paying attention to the fine print. Consumers should understand that these BNPL services offer benefits but they are not without risk. A more balanced and disciplined approach to spending can go a long way towards achieving financial stability.
David Sykes, Chief Commercial Officer at Klarna says:
“Our goal is to have Klarna at every checkout, everywhere, for every need, at any time. This expanded partnership takes us closer to that vision, establishing Klarna as the go-to payment option for tens of thousands of retailers globally.”
Web Griebel, Head of Payments at Woo said:
“Offering flexible payments acceptance has become such an important tool for merchants to increase cart values and drive sales. We’re thrilled to partner more deeply with Klarna to give store owners easy access to buy now, pay later and other purchase financing options for their customers.”
