April 26, 2018 – Klarna, a leading global payments provider today announced its integration with Magento Commerce as a Core Bundled Extension (CBE) in latest release of its flagship commerce platform. The integration will allow merchants to integrate Klarna’s Pay Now, Pay Later and Slice It, which will provide customers with flexibility in payments and an overall smoother shopping experience.
Michael Rouse, Chief Commercial Officer of Klarna said: “We are proud to be selected as one of the core payment technologies included in the latest release of the Magento Commerce platform. The evolution of our partnership is driven by strong merchant demand and illustrates the quality of our flexible, safe and smooth payment services. Our shared vision of providing exceptional customer experiences by removing the friction associated with the checkout process will deliver consistently improved conversion rates as well as increased average order value for merchants.”
Merchants will be able to integrate one or all of Klarna’s products based on local market availability, their own need and customer preference. Pay Nowincludes bank transfer and direct debit. Pay Later lets customers pay for goods up to 30 days after delivery by invoice, thus letting customers try before they buy. Slice It enables customers to spread the cost of their purchases over time at a low interest rate, giving them flexibility and increased purchasing power.
“Klarna is a recognized leader in payments industry, with a proven track record of delivering the flexible payment options merchants need to keep a competitive edge,” said Ryan Murden, head of business -development at Magento Commerce. “The addition of Klarna as a core bundled extension in our latest release will help merchants streamline the checkout process, reduce cart abandonment rates.”
A CBE simplifies the onboarding process for merchants by ensuring that strategic partner technologies are distributed with the Magento core code. This removes the need for merchants to download and install them from the Marketplace. By distributing certain capabilities as CBEs with the Magento Commerce core, the company can distribute updates and bug fixes with a more regular cadence.
This release was announced on stage at Imagine, Magento’s 8th annual conference which brings together more than 3,000 eCommerce experts.
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Johanna Nyman, Senior manager Communications & PR
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Klarna is one of Europe’s leading payments providers and a newly-licensed bank, which wants to revolutionise the payment experience for shoppers and merchants alike. Founded in Stockholm, Sweden, in 2005, we give online consumers the option to pay now, pay later or over time – offering a simple, safe and smoooth checkout experience. Klarna now works with 89,000 merchants. Klarna has 2000 employees and is active in 14 countries. Klarna is backed by investors such as Sequoia Capital, Bestseller Group, Atomico, VISA and Permira.