Berlin, October 11th, 2021 — Billie, the leading provider of Buy Now, Pay Later (BNPL) payment methods for businesses, and Klarna, a leading global retail bank, payments, and shopping service, announced today the launch of a new partnership. Online stores from across the world will be able to offer their business customers Billie's BNPL payment methods through existing Klarna integration.
Through the cooperation with Billie, Klarna expands its own product offerings so that online merchants, in addition to Klarna's own various payment methods for customers, will be able to offer Billie's BNPL payment methods for businesses. Klarna thus becomes the world's first payment provider to offer a comprehensive range of BNPL payment methods for both customers and businesses.
Billie’s newly implemented payment methods can be directly activated by the businesses themselves and are seamlessly embedded in Klarna’s checkout process. No additional technical steps are required by online retailers. Both companies plan to launch Billie’s BNPL payment methods for Klarna merchants in Germany, in the first quarter of 2022, which will then be followed by a roll-out to other European markets.
"We are now at the cusp of significant disruption in B2B payments. Over the past few years, we have seen Buy Now, Pay Later payment methods increasingly replace traditional payment methods such as credit cards in the consumer segment. We are now seeing a similar trend in the business sector. BNPL is on the rise and continues to gain importance over traditional payment methods in the B2B segment, a development similar to the credit card revolution more than 30 years ago. However, until now, there aren’t any providers that offer the payment method in a fully automated way, and with a modern user interface, the way Klarna does for the B2C segment,” says Christian Grobe, co-founder and co-CEO of Billie.
Billie's B2B BNPL payment methods will be available to all Klarna merchants with businesses as customers. This applies, for example, to online merchants in sectors such as DIY stores, electronics, home and garden, furniture, hotels and restaurants, stationary and printing. With high shopping cart conversion rates of over 90%, and shopping cart limits of up to €100,000, with Billie, online retailers can increase sales by up to 40%, while increasing repeat purchases.
“Through our partnership with Billie, we are expanding our product range to include an important area that is in demand by many of our merchants but not yet adequately served by us — for them as businesses and how they pay online. Klarna is the first payment provider able to offer merchants such a service, one which will be as seamless and secure as existing consumer offerings. Klarna is extremely well placed to serve over 250,000 of our merchants in this way and now together with Billie’s outstanding B2B product offering, it is a perfect complement,” says Koen Köppen, CTO of Klarna.
The partnership gives Klarna access to one of the largest and still largely untapped markets: B2B commerce. According to studies, B2B commerce transaction volume is three to five times higher than that of B2C commerce. The increasing shift in businesses from offline to online purchasing processes will further accelerate growth in this sector.
About Billie:
Billie is the leading provider of Buy Now, Pay Later (BNPL) payment methods for businesses, offering B2B companies innovative digital payment services. Founded in Berlin, FinTech enables companies to pay and get paid on their own terms simply and easily through modern checkout solutions. Based on proprietary, machine-learning-supported risk models, fully digitized processes and a highly scalable tech platform, Billie offers freedom to big and small businesses alike through fast liquidity, automated workflows and access to modern payment solutions. Billie was founded in 2016 by the former founders of Zencap (Exit and Funding Circle). Billie is based in Berlin and employs over 130 people from over 35 countries. Investors include Creandum, Picus and SpeedInvest, among others. For more information, visit billie.io.
About Klarna:
We make shopping smooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna’s offering to consumers and retailers include payments, social shopping, and personal finances. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna’s innovative shopping experience online and in-store. Klarna is one of the most highly valued private fintechs globally with a valuation of $45.6 billion. Klarna was founded in 2005, has over 4,000 employees and is active in 17 countries. For more information, visit klarna.com.
Billie Press Contact:
Susan Pfundt, Email: susan@billie.io
Klarna Press Contact:
press@klarna.com