Klarna Partners with Wix to Offer eCommerce Merchants Flexible Buy Now, Pay Later Payments Solution
Buy Now, Pay Later fintech Klarna has partnered with cloud-based website development platform Wix to enable its eCommerce merchants to offer customers flexible and convenient payments options.
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From designers and developers to musicians and restaurant owners, Wix is one of the leading website development platforms for eCommerce merchants worldwide.
Wix online merchants now have access to Klarna’s Pay in 4 and Pay in 3 solutions, which offer their customers interest-free payments over time while retailers receive full payment upfront.
“We are thrilled to join efforts with Klarna to provide Wix eCommerce merchants with more payment solutions that benefit them and their customers. Our research indicates that Wix Stores connected to BNPL providers have seen a 25% increase in high-ticket transactions, making these items more affordable for customers and boosting merchants’ overall growth.”Omer Shatzky, Head of Billing and Payments at Wix
Klarna Leads Red Hot Buy Now, Pay Later Payments Solution
Globally, the BNPL industry is expected to grow 10-15x by 2025 to reach over $1 trillion in annual gross merchandise volume as consumers shift away from traditional credit in favor of flexible spending options that suit their lifestyles.
Even major credit card companies like Visa are getting into the BNPL industry as they see the shift in buying behavior by consumers to forgo traditional credit and debit card use.
By adding Klarna’s flexible payment options, Wix eCommerce merchants gain access to this hot BNPL payments trend which also increases their customers’ purchasing power while boosting new customer acquisition.
“As a result of this partnership, merchants using Wix will now be able to unlock Klarna’s global network of 90 million shoppers. As importantly, they’ll now have the ability to offer their customers more flexible payment options and tap into the growth of buy now, pay later solutions.”Luke Griffiths, Chief Commercial Officer
Wix eCommerce merchants across the US, UK, AUS, NZ, DE, AT, CH, SE, NO, FI, DK, BE, NL, FRA, ES, PL, and IT markets can integrate Klarna’s flexible payments solutions into their website now.
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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.