How Does Klarna Work With Amazon
Klarna is a Swedish financial technology company that provides a variety of payment services, including buy now, pay later (BNPL). Founded in 2005, Klarna is now one of the leading BNPL providers in the world, with over 150 million active users in 45 countries.
Klarna’s BNPL service allows customers to purchase goods and services online and pay for them in installments over a period of time, usually 30 days, 60 days, or 3 months. Klarna does not charge interest on its BNPL plans, but it does charge a late fee if payments are not made on time.
Latest Updates About Klarna
Here are some of the latest updates about Klarna:
Financial Performance:
- Klarna reported a net loss of SEK 1.6 billion for the third quarter of 2023. This was wider than the SEK 1.1 billion loss expected by analysts.
- The company’s gross merchandise volume (GMV) grew 26% year-on-year to SEK 56.5 billion.
- Active customers increased 20% to 45.5 million.
Here’s a summary of the latest Klarna product updates:
- Klarna Vibe: A personalized shopping experience that uses AI to recommend products based on your style and preferences.
- Klarna Collections: Curated collections of products from Klarna’s partner brands, tailored to your interests.
- Klarna Price Comparison: A tool that allows you to compare prices across different retailers, ensuring you get the best deal.
- Klarna Shopping Assistant: A browser extension that helps you find the best deals and coupons online.
- Klarna Virtual Try-On: A feature that allows you to virtually try on clothes before you buy them.
- Klarna’s Upgraded CO2e Tracker: Provides even deeper insights into the environmental impact of your purchases.
- Klarna Split: Allows you to split your purchase into four equal payments, interest-free.
- Klarna Pay Now: Allows you to pay for your purchase upfront.
- Klarna Financing: Allows you to finance your purchase with interest.
- Klarna Card: A physical debit card that can be used to make purchases anywhere Mastercard is accepted.
- Klarna Express Button: A quick and secure checkout option for a convenient shopping experience.
How Klarna Works with Amazon
Klarna and Amazon partnered in 2021, allowing you to use Klarna’s “Pay in 4” feature for eligible purchases on Amazon.com.
It was seen as a major move for both companies, as it gave Amazon access to Klarna’s large customer base and Klarna access to Amazon’s massive online marketplace.
The partnership was initially met with some skepticism, as some analysts questioned whether consumers would be willing to use a third-party payment provider for their Amazon purchases. However, the partnership has been a success so far, with Klarna reporting that it has seen strong adoption of its “Pay in 4” feature on Amazon.
1. Download the Klarna app and sign up for an account:
If you haven’t already, download the Klarna app and create an account. This will enable you to access Klarna’s payment options.
2. Link your Amazon account to Klarna:
- Open the Klarna app and navigate to the “Shopping” section.
- Search for Amazon and select “Connect”.
- Follow the steps to link your Amazon account to your Klarna account.
3. Choose Klarna as your payment option at checkout:
- Add your desired items to your Amazon cart.
- Proceed to checkout.
- At checkout, select “Gift cards” as your payment method.
- Choose “Create a new gift card” and enter the desired amount your purchase total).
- Select Klarna as your payment method for the gift card.
- Once the gift card is created, use it to pay for your Amazon order.
4. Repay Klarna for the purchase:
Klarna will divide your purchase amount into 4 equal payments, due every 2 weeks.
You can manage your payments and track your balance through the Klarna app.
Benefits of Using Klarna With Amazon
- You can spread out the cost of your purchase over four interest-free payments.
- You can track your Klarna payments and spending in the Klarna app.
- Klarna offers a variety of other features, such as price alerts and purchase protection.
However, there are also some things to keep in mind when using Klarna with Amazon:
- You must be pre-approved for Klarna before you can use it.
- You may be charged late fees if you miss a payment.
- Klarna may report your payment history to credit bureaus, which could impact your credit score.
