Klarna partners with Stripe to fuel growth for retailers worldwide

By Joy Dumasia

Klarna, a leading global retail bank, payments, and shopping service, announced a strategic partnership with Stripe, a global technology company building economic infrastructure for the internet. Retailers using Stripe can now activate Klarna as the preferred payment method in their checkout within minutes, providing a superior shopping experience to consumers.

The first results of retailers using Stripe show that the integration of Klarna’s payment method led to an average 27% increase in sales. On average, retailers using Klarna see a 41% upsurge in average order volume and a 36% increase in purchase frequency, leading to an increase in revenue. Additionally, some retailers experienced that 40% of Klarna shoppers are new to their brand, demonstrating that Klarna’s rapidly growing consumer app with more than 18m monthly users has become a true lead generator.

In addition to enabling retailers already using Stripe to activate Klarna in their checkout, both companies have announced plans to further strengthen the partnership. Stripe is Klarna’s preferred payments partner for consumer purchases pre-funded in the US and Canada. Klarna will now rely on Stripe to process the majority of its payment volume in the US and Canada.

Koen Köppen, Chief Technology Officer at Klarna: “Over the past years, Klarna and Stripe redefined the e-commerce experience for millions of consumers and global retailers. Together with Stripe, we will be a true growth partner for our retailers of all sizes, allowing them to maximize their entrepreneurial success through our joint services. By offering convenience, flexibility, and control to even more shoppers, we create a win-win situation for both retailers and consumers alike.”

Recently, IBS Intelligence reported that Klarna, a leading global retail bank, payments and shopping service, is bringing its smooth signature experience to the travel sector with the acquisition of Inspirock.