Payment processing platform Klarna announced on Tuesday it has formed a new partnership with crafts and creative goods marketplace Etsy to launch its Buy Now, Pay Later solution. Klarna reported that U.S. Etsy buyers will now be able to use the flexible payment option to shop.
“The global roll out of Klarna’s flexible ways to pay will begin in the US, and Etsy expects to roll out Klarna’s flexible payment options in other core markets in 2021. Klarna’s `Pay later’ solution for Etsy is enabled by Adyen, the payments platform of choice for many of the world’s leading companies.”
Speaking about the collaboration, Kruti Patel Goyal, Etsy’s Chief Product Officer, stated:
“Klarna will enable shoppers to buy on Etsy with greater financial control and convenience, without additional fees for sellers. We believe this flexible solution will be particularly valuable during the peak holiday shopping period when many shoppers are buying special items for their loved ones.”
Klarna noted it supports purchases on Etsy between $50 and $10,000. Sebastian Siemiatkowski, CEO at Klarna, further commented:
“Not only does this relationship bring new flexible payment options to shoppers globally, we’re proud to work with Etsy, a platform that supports small businesses around the world.”
Founded in 2005, Klarna offers products and services to consumers and retailers within payments, social shopping, and personal finances. It enables consumers to make open payments quickly, easily, and securely; immediately, delayed, or in installments. Klarna works with over 205,000 retailers including in Germany H&M, Spotify, MediaMarkt, Expedia, Nike, and Deutsche Bahn.
