Working with Billy, Clarna will expand its unique product offerings, enabling online merchants to offer Billy’s BNPL payment methods to businesses in addition to Clarna’s unique customer-oriented payment methods. Therefore, Klarna will be the world’s first payment provider to offer comprehensive BNPL payment methods for both customers and businesses, Klarna said in a media statement.
Billy’s newly implemented payment method can be activated directly by the company itself and is seamlessly integrated into Clarna’s checkout process. Online retailers do not require any additional technical steps. The two companies plan to launch Billie’s BNPL payment method for Klarna merchants in Germany in the first quarter of 2022. After that, it will be expanded to other European markets.
Billy, a leading provider of BuyNow and Pay Later (BNPL) payment methods for businesses, and Klarna, Sweden’s global retail banking, payment and shopping service, have announced a new partnership. Through the existing Klarna integration, online stores around the world will be able to offer Billy’s BNPL payment method to business customers.
Billy’s B2BBNPL payment method will be available to all Klarna merchants with corporate customers. This applies, for example, to online merchants in areas such as home improvement stores, appliances, homes and gardens, furniture, hotels and restaurants, stationery, and printing. According to Klarna, high shopping cart conversion rates of over 90 and shopping cart limits of up to € 100,000 allow online retailers to increase sales by up to 40% while increasing repeat purchases.
This partnership will give Klarna access to one of the largest and untapped markets, B2B commerce. Studies show that B2B commerce has three to five times the transaction volume of B2C commerce. Increasing business shifts from offline to online purchasing processes will further accelerate the growth of this sector.
“We are currently on the verge of serious turmoil in B2B payments. Over the past few years, instead of traditional payment methods such as consumer segment credit cards, buy now and pay later. BNPL is on the rise and continues to be more important than traditional payment methods in the B2B segment, a development similar to the credit card revolution over 30 years ago, but so far providers There was no. It provides a payment method in a fully automated way, with a modern user interface and the way Klarna does for B2C segments. ” Billy Co-Founder and CEO, Christian Grove Said in a statement.
“Through our partnership with Billy, we have expanded our product range to include key areas that are in demand by many merchants but not yet fully serviced, as a business and as an online payment method. Includes. Klarna is the first payment provider to provide merchants with services that are as seamless and secure as existing consumer services. Klarna serves more than 250,000 merchants in this way. It’s in a very good location and is a perfect complement to Billie’s excellent B2B products. ” Klarna CTO, Koen Köppen Said.
Fiber2Fashion News Desk (GK)
Sweden’s Klarna and payment provider Billie sign partnership
Source link Sweden’s Klarna and payment provider Billie sign partnership