Klarna is a Swedish company that offers online payment solutions for both consumers and merchants. Its most popular payment method is the “Buy now, pay later” option, which allows consumers to defer their payment for up to 30 days after the purchase.
Klarna also offers a pay-over-time option, which allows consumers to split the cost of a purchase into several equal installments. The installments can be spread over a period of up to 36 months, with a fixed interest rate.
To use Klarna, consumers must provide personal and financial information, such as their name, address, phone number, date of birth, and social security number. Klarna uses this information to perform a credit check and determine whether a consumer is eligible for financing.
Merchants who use Klarna as a payment method can benefit from increased sales, as the pay-over-time option can make products more accessible to consumers who are unable to pay the full purchase amount at once.
Klarna also offers buyer protection that covers consumers in case of non-delivery or defective product.