Klarna’s process requires filling out a few fields of information online (without being redirected away from the online store) and lets consumers know instantly if they qualify for the financing solution, bankingtech.com reports.
The solution helps retailers and merchants counteract the dropped basket effect, boosting retention, loyalty and sales.
According to Klarna’s recent research, 67% of UK shoppers abandon their shopping basket online, which equates to an average loss of GBP 37,062 per UK retailer each year.
The solution is also being rolled out outside the UK. In the US, for instance, this offering is available with shoes.com. Klarna ensures legal compliance across all markets.
Set up in 2005, Klarna now has 65,000 merchants on its customer list, 1,500 staff and operations in 18 countries across Europe and North America.
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