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
More Reports
Title Price Buy Now

Global Wealth Management: Competitive Dynamics

Global Wealth Management: Competitive Dynamics Summary "Global Wealth Management: Competitive Dynamics", report benchmarks the world's leading wealth managers by managed client assets and financial performance. It covers the 34 most prominent institutions, including standalone private banks and wealth managers, as well as competitors that are part of larger universal financial groups. All international wealth managers with over $100bn in private client AUM are featured in the report. At the end of 2016, client assets managed by the world's top private wealth managers had grown by 6.1% to a record $10.2tn. While a welcome return to growth after 2015's lackluster performance, the growth was fueled more by higher asset prices and the general appreciation of HNW assets rather than str......
$3450

Payments in Denmark 2017: What Consumers Want

Payments in Denmark 2017: What Consumers Want Summary "Payments in Denmark 2017: What Consumers Want", report examines the consumer payments market in Denmark, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market. The Danish cards and payments industry is well-developed, and its consumers are prolific users of payment cards. The country has the highest frequency of use in the world, with 210 transactions per card in 2017. As cash use continues to decline, Denmark is increasing its efforts to become a cashless society, backed by government support promoting electronic payments. Danish consumers are very comfortable with payment cards......
$3450

Payments Landscape in Denmark: Opportunities and Risks to 2021

Payments Landscape in Denmark: Opportunities and Risks to 2021 Summary GlobalData's "Payments Landscape in Denmark: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Danish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cash, direct debit, payment cards, and cheques during the review-period (2013-17e). The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the market share......
$2750

UK Pet Insurance: Distribution & Marketing 2017

UK Pet Insurance: Distribution & Marketing 2017 Summary "UK Pet Insurance: Distribution & Marketing 2017", explores consumer purchasing behavior and how consumer preferences are changing over time. The report discovers what is most influential to customers when purchasing a policy and also reveals the most popular providers in the market. New trends and innovations are highlighted, as well as the key factors that will influence the market over the next few years. The purchasing preferences of pet insurance customers have shifted even further towards the direct channel in 2017. Within our UK Insurance Consumer Survey, direct to insurer has increased in popularity by over 20 percentage points for both cats and dogs. While perhaps a less obvious fit, a presence on price comparison si......
$1295

Payments in the Netherlands 2017: What Consumers Want

Payments in the Netherlands 2017: What Consumers Want Summary "Payments in the Netherlands 2017: What Consumers Want", report examines the consumer payments market in the Netherlands, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market. The Dutch payment cards market is mature, with a high penetration rate of 1.9 payment cards per inhabitant. The market is dominated by debit cards, as consumers perceive them to be more secure, cost-effective, and consumer-friendly. Pay-later card payments are not popular due to a cultural aversion towards debt. Dutch consumers are very comfortable using debit cards - accounting for 90% of the overall tra......
$3450

Payments Landscape in the Netherlands: Opportunities and Risks to 2021

Payments Landscape in the Netherlands: Opportunities and Risks to 2021 Summary GlobalData's "Payments Landscape in the Netherlands: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Dutch cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cash, direct debit, payment cards, and cheques during the review-period (2013-17e). The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the mar......
$2750

Payments in Sweden 2017: What Consumers Want

Payments in Sweden 2017: What Consumers Want Summary "Payments in Sweden 2017: What Consumers Want", report examines the consumer payments market in Sweden, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market. Swedish consumers are prolific payment card users. Average monthly card transaction volume is higher in Sweden than in other mature European markets such as the UK and Germany, although it lags behind its neighbors Denmark and Estonia. Payment card use in Sweden has been driven by concerted efforts by the government and banks, and consumer willingness to adopt them. As a result, payment cards are gradually replacing cash, and are n......
$3450

Payments Landscape in Sweden: Opportunities and Risks to 2021

Payments Landscape in Sweden: Opportunities and Risks to 2021 Summary GlobalData's "Payments Landscape in Sweden: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Swedish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cash, direct debit, payment cards, and cheques during the review-period (2013-17e). The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the market shares of is......
$2750

Payments in China 2017: What Consumers Want

Payments in China 2017: What Consumers Want Summary China is the world's largest payment card market in terms of transaction value, accounting for US$13.3tn in 2017. This is followed by the US, the UK (US$1.1tn), Germany, and France. Cash, however, remains a popular payment instrument among Chinese consumers, especially in rural areas, accounting for 63% of the total payment transaction volume in 2017. One of the primary reasons for the dominance of cash is a consumer preference to keep track of their day-to-day spending. High penetration of smartphones and the long history of contactless payments have created a unique opportunity for mobile proximity payments in China. Chinese consumers are accustomed to using mobile phones for payments. In an environment in which e-commerce giants and......
$3450

Payments Landscape in China: Opportunities and Risks to 2021

Payments Landscape in China: Opportunities and Risks to 2021 Summary China is the world's largest payment card market in terms of transaction value followed by the US, the UK ($1.1tn), Germany, and France. Cash, however, remains a popular payment instrument among Chinese consumers, especially in rural areas, accounting for 63% of the total payment transaction volume in 2017. One of the primary reasons for the dominance of cash is a consumer preference to keep track of their day-to-day spending. Government and banks have begun to provide basic financial access to the unbanked population by expanding banking infrastructure, launching new branches, and making efforts to change consumer payment habits. As a result, payment cards are gradually becoming more accepted, with their use consequen......
$2750