Klarna & installment plans -
The most frequent questions merchants ask is how to provide installment or payment plans for customers.
In the past, the solution is to utilize the flexibility offered by our subscription-based services and limit the number of payment options. But, even though this provides tremendous benefits for both the seller and buyer however, we thought there should be a better solution.
Enter Klarna!
We're thrilled to have the opportunity to provide Klarna as payment option. Klarna is a method of payment that can offer either one or both of the following payment options:
- Pay now. It's a quick payment but through the purchaser's Klarna account (similar as how buyers is able to use PayPal to make a payment to purchase).
- Pay now and buy later. The buyer receives their product now but will pay later (e.g. within thirty days).
- Pay in Pay in. This is a no-interest repayment plan where the buyer can choose to purchase the item in 3 or four installments.
- Financing. In certain countries, financing can also be an option to buyers to buy your product.
The options for purchasing Klarna offers to the customer is contingent on both the location of your seller, as well as the buyer's area of operation.
In the case of example, if both of you are located in the US, then Klarna can offer an installment plan that includes 4 free interest payments.
If, for instance, you are both based in the UK and both reside in the UK, they could offer a 'Buy now, pay later' option where the buyer receives their download link immediately but has to pay for it in a future date.
The most expensive products
A installment plan is ideal for products that are more expensive, such as online coaching courses or other coaching services that can quickly turn into thousands of dollars.
Offering an easy and reliable installment program opens your product to a new customer base.
Payments
In addition, Klarna provide payment options to expand your reach in the market, but they also handle all aspects of the purchaser's payments.
So, you won't have to think about collecting payments from the buyers or making sure they follow their installment plan. Klarna will take care of that.
The seller, you will receive the full payment immediately on completion of the payment. Klarna then deals directly with the customer to collect the payment according to the timeframe agreed upon.
A lot more sales and less anxiety! This is a great win for every seller.
Assistance
As you've come to expect from us, our articles on help guide you through each step of each step of the way, and connecting Klarna through your Stripe account isn't any different:
If you have questions or comments, or simply would like to wish us a Thank You or Happy Holidays, we'd love to be in touch!