Adobe Commerce merchants can now offer their customers Klarna’s buy now, pay later (BNPL) services and other flexible payment options.
The partnership will help these merchants meet the growing demand for BNPL, the companies said in a Tuesday (July 2) press release.
“Klarna’s global footprint enables Adobe Commerce merchants to meet the changing needs of their consumers and stay competitive in today’s digital economy,” Jason Knell, senior director of content and commerce partners at Adobe, said in the release.
The collaboration will offer thousands of merchants “a flexible, seamless and smooth way to accept payments,” Erin Jaeger, head of North America at Klarna, said in the release. “This enhances the shopping experience for consumers and boosts the operational capacities of merchants.”
The PYMNTS Intelligence report “Merchants’ Evolving Perspective on the Value of Card-Linked Pay Later Plans” found that BNPL is becoming more popular with consumers and is increasingly accepted by retailers. Eighty-five percent of merchants said the payment method was used more often during online checkout over the past 12 months.
Klarna reported in May that it achieved accelerated revenue growth in the first quarter, with its 29% increase in total revenue in the quarter outpacing the 13% rise it saw in the same period a year earlier.
“This surge is driven by our expanding presence in the U.S., where we continue to onboard major retailers,” Klarna said at the time. “As the preferred choice for consumers’ everyday spending, commerce thrives on the Klarna network.”
In other partnerships, Klarna teamed up with luggage and travel accessories brand Away to offer BNPL options to that firm’s customers, with ride-hailing app Uber to offer that firm’s users new ways to pay for rides and deliveries, and with travel company Expedia to bring flexible payment offerings to travelers in the United States.
As for Adobe, that firm said in March that it tapped unified commerce solution provider Adyen to enable online and in-store payments for global enterprise merchants that use Adobe Commerce. The partnership enables merchants to simplify and scale their customer payment experiences online, offline and across global markets.
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