Friday, 5 July 2024

Klarna Hooks Up with Adobe Commerce to Roll Out BNPL Services

by BD Banks

Klarna, an AI-powered global payments network and shopping
assistant, announced a new partnership with Adobe Commerce today (Tuesday).
This collaboration will enable merchants to implement Klarna’s Buy Now Pay
Later (BNPL) services, as well as other flexible payment options.

BNPL Services with Klarna

This partnership allows Klarna to extend its payment
flexibility to a broader range of consumers. By integrating Klarna’s payment
solutions with Adobe Commerce, merchants can offer customers more payment

“Our relationship with Adobe Commerce offers thousands of
merchants a flexible, seamless, and smooth way to accept payments,” said Erin
Jaeger, Head of North America at Klarna. “This enhances the shopping experience
for consumers and boosts the operational capacities of merchants.”

The collaboration aims to leverage the combined strengths of
both companies to deliver value to their customers. This move is expected to
benefit merchants by providing more payment options and potentially increasing
sales through Klarna’s BNPL services.

“Consumers are embracing the flexibility that Buy Now Pay
Later services can provide, with Adobe Analytics data showing over 11 percent
growth this year,” said Jason Knell, Sr. Director, Content & Commerce
Partners at Adobe. “Klarna’s global footprint enables Adobe Commerce merchants
to meet the changing needs of their consumers and stay competitive in today’s
digital economy.”

Earlier, Adobe
partnered with Nuvei Corporation
to streamline eCommerce payments.
Businesses on Adobe Commerce gain access to Nuvei’s payment suite via a unified
API, supporting B2B and B2C sectors like retail and healthcare. Nuvei’s
integration includes 680 regional payment methods, enhancing localized payment
options and enabling global market expansion.

Klarna Sells Checkout Business

Meanwhile, Klarna
has sold its checkout business for $520 million
, marking a strategic shift
away from direct competition with payment giants like Stripe and Adyen, as
reported by Finance Magnates.
The move aims to reduce conflicts of interest in the payment service provider
sector, where Klarna had previously operated both as a partner and competitor.

The new ownership, led by Kamjar Hajabdolahi’s investor
consortium, will allow the checkout business to operate independently. Key
Klarna personnel are facilitating a smooth transition to ensure continuity. The
deal includes equity, debt financing, performance-based incentives, and
revenue-sharing agreements to support the divested entity’s growth.

This article was written by Tareq Sikder at