Alternative Payment Solution: Klarna

2017-08-24
Price :
Published : Aug-2017
No. of Pages : 18

Alternative Payment Solution: Klarna

Summary

Klarna is a Swedish online payment service provider (PSP). Established in 2005, the company now serves 60 million customers and is accepted by 70,000 online merchants across 17 European markets and the US.

The company offers both immediate and pay after delivery options for e-commerce purchases, allowing customers to make payments within 14 days of receiving the items purchased. It also offers an extended credit financing option called buy now, pay later, through which users can make payments in monthly installments of up to 36 months. Klarna acts as a mediator between merchants and buyers and assumes the fraud and credit risk involved in transactions.

Klarna acquired SOFORT in 2014, turning it into one of the largest PSPs in European e-commerce. The companies operate under their separate brands. Klarna is used for nearly 40% of all online purchases in Sweden and accounts for 10% of total e-commerce payments in Northern Europe.

The company entered the P2P payment space in August 2017 by launching Wavy, an app that allows users to send and request money by connecting their bank accounts or credit cards. In June 2017 it received a full banking license from Sweden’s financial supervisory authority, allowing it to offer banking products and services across Europe.

The report provides information and insights into alternative payment solution Klarna, including -
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance, including its revenue model
- The company’s important events and milestones.

Scope

- Established in 2005, Klarna now serves 60 million customers.
- In 2014, Klarna acquired SOFORT.
- In June 2017, Klarna received banking license from Sweden’s financial supervisory authority.
- In August 2017, Klarna launched P2P payment app, Wavy.

Reasons to buy

- Gain insights into Klarna’s business operations, and key events.
- Gain insights into its product portfolio and revenue model.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Filed in: Banking & Finance
Publisher : GlobalData
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