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Shopify Targets High-Growth Merchants Through Partnership with Klarna

Shopify has added payment solution provider Klarna to its Shopify Plus Technology Partner Program, which targets high-growth, high-volume businesses. Through the program, Shopify Plus merchants in the U.S., U.K. and Germany will be able to integrate Klarna’s payment suite into their stores and receive additional access to customization and APIs that aim to improve the user experience.
The two companies originally partnered in 2016, when Klarna services were first made available to stores on the Shopify platform. These services provide customers with various payment solutions to suit their needs, whether that is paying after a 30-day trial period, in monthly installments, or in four equal installments. Klarna assumes the risk so that the merchants still receive their payment upfront; a necessity for smaller businesses developing their brand.
The model of buy now, pay later is particularly popular for luxury items and among the millennial generation. With an abundance of product choice — but also more awareness of sustainability and investment purchases — customers are often drawn to brands that provide them with more flexible purchasing options. Companies like Klarna, Afterpay and Affirm also appeal to buyers who are working with stricter budgets, thus opening up retail to a wider range of consumers.
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Via:: https://footwearnews.com/2018/business/technology/shopify-klarna-digital-partnership-small-business-1202715756/