Keeping customers happy is one of the main objectives for online retailers. The checkout plays a crucial part in achieving this; 75 percent of US shoppers state that the speed of checkout is one of the most important factors when shopping online*. That’s why they love merchants who offer smoooth payments.
And that’s what’s Klarna is all about.
Having Klarna in your checkout means that your customers can choose from three payment options: Pay later in 30 days, Pay later in 4 installments, or Slice it. Let’s have a closer look at them.
Pay later in 30 days
To put it simply: You give your consumers the opportunity to try it before they buy it. However, you as a merchant receive the money right away, leaving all the risk to Klarna.
Pay later in 4 installments
This option makes it possible for your customers to split their payment into four. And guess what – it doesn’t cost them any extra as long as they pay on time.
This is for larger purchases that customers want to pay for over a longer time period. The Slice it option incurs a fee for the consumer.
Whatever way your customers choose to pay, it will be a pleasant experience. They only have to fill in the boring part with their card information once. After that, they can simply pay with one click for all future purchases with Klarna.
A good shopping experience for your customers is a big plus, but how else do you as a merchant profit from using Klarna? Well, in quite a lot of ways, actually. First of all, you won’t take on any risk when it comes to receiving your money. You get your payments up-front from Klarna, while they take responsibility for collecting payments from customers.
Instead of worrying about getting your money, you can spend your time staring at great sales numbers. Here are some results retailers typically see after switching to Klarna:
- 68% increase in average order value
- 20% higher annual customer purchase frequency
- 7% higher conversion rate vs. card transactions
- 44% of users would have abandoned their purchase if Pay later wasn’t available**
Win-win, right? At least, that’s what the 130,000 merchants who already use Klarna think. Click on the link below to learn more!
*Statista: Online shopping behavior in the United States
**Klarna customer survey 2018