What is Klarna and how it works

Klarna app

Flexible payment options have become increasingly popular among consumers. One of the leading companies in this field is Klarna, a payment platform that offers a convenient and flexible shopping experience for users.

Klarna enables online shopping by facilitating payments in a flexible manner

Klarna is a Swedish company founded in 2005 that has become a benchmark in the field of online payments. A competitor of PayPal, its main goal is to provide consumers with a simple and secure way to make online purchases and pay in a flexible way. Klarna has managed to stand out in the market thanks to its innovative approach and its ability to adapt to the changing needs of consumers.

What is Klarna used for?

Klarna is primarily used as an online payment solution that allows users to purchase products and services from different stores and make payment in a flexible way.

Consumers can opt for. split the payment into several installmentsThis payment flexibility has been especially attractive to online shoppers, allowing them to better manage their spending and make purchases without having to compromise their budget. This payment flexibility has been especially attractive to online shoppers, as it allows them to better manage their spending and make purchases without having to compromise their budget.

How Klarna works

How Klarna works is relatively simple. When a consumer makes a purchase at an online store that offers Klarna as a payment option, can choose Klarna as payment method in the checkout process.. From there, Klarna takes care of facilitating the payment and setting the financing terms if the user opts for a deferred payment option.

One of Klarna’s distinguishing features is its instant verification process. Rather than requiring lengthy forms and tedious credit checks, Klarna performs a quick assessment based on basic information provided by the user, such as their date of birth and address. This allows consumers to get instant feedback on whether or not their payment request has been approved.

Once the purchase has been completed, Klarna is responsible for making payment to the merchant on behalf of the consumer.. Subsequently, the consumer will receive detailed information on payment terms and due dates. If the consumer has opted to split the payment into installments, he will be charged the agreed amount in each established installment.

Deferred payments with Klarna

With Klarna, it is possible to shop at favorite stores and have the option to pay in 30 days or split the cost of the purchase into 3 interest-free installments at 0% APR. The platform allows you to spread the cost of the purchase in 3 interest-free installmentswhich are charged monthly to the user’s debit or credit card. This provides a smooth shopping experience with the freedom to pay later or split the payment.

The process is simple: when checking out at the store, the option to pay in 3 interest-free installments is chosen and the debit card details are entered. This only needs to be done the first time you shop with Klarna, and is subject to the company’s approval. It is important to note that the minimum and maximum purchase amount may vary by merchant.

Once the merchant confirms shipment of the order, the first installment is charged. Klarna will send a notification when the payment has been processed. Subsequently, an installment will be charged each month until the full amount of the purchase has been completed. Klarna will inform you well in advance so that money can be added to the card if necessary.

The option to pay in installments offers total freedom to shop online without hurting your pocket. Payments are made automatically every 30 days and you can manage purchases and view orders through the Klarna app.

Differences with e-wallets

Unlike other virtual payment solutions and e-wallets such as PayPal, in Klarna, the user does not have to register or create an accountIt is enough to provide the data of the bank where you have an account and select the authentication procedure. It is also not necessary to maintain an amount of money deposited on the platform.

Klarna App

The payment platform has its own app, Klarna App, which allows you to manage purchases made using this method. It includes functions such as the creation of wish listsand can receive notifications when the items the user is interested in drop in price. It also allows you to manage customer service and return notifications.

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