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Klarna Checkout Enhanced - Conversion Rates Up 30%

STOCKHOLM | At the end of December last year, the Klarna Checkout got a feature that automatically fills in consumer information for returning consumers in Klarna Checkout when buying on mobile. This 'auto-fill' feature effectively enables consumers to make purchases with a single step. This feature is now live on all mobile and tablet iOS and Android devices.

What is Klarna Checkout?

Merchants offering Klarna Checkout as payment option allow their consumers to first confirm the order and, secondly, pay by using their preferred payment method. Consumers can pay by using credit card, debit card and Klarna Invoice. Separating the buying from the actual paying simplifies the purchase process and is supposed to increase conversion. It eliminates the risk of a customer abandoning the purchase while filling in, for example, all their credit card details – because the purchase is completed before the payment method is chosen.

The merchant is guaranteed to receive payment. In order for a customer to complete a purchase by simply using an e-mail address and postal code, Klarna performs a swift and efficient background check of the consumer information. By doing so Klarna can assume all the risk for fraud and credit loss, for both the customer and the merchant. Klarna checkout was recently launched for the German eCommerce market (Klarna Checkout Launched in Germany).

Conversion Rates Up 30% for iPhone shoppers

Conversion on mobile increased by nearly 30% for returning iPhone consumers when Klarna released this feature on iOS in December. Currently, 30% of Klarna Checkout purchases are completed on mobile devices, proving that consumers want to use their mobile devices to buy online. For returning consumers who have made purchases with Klarna Checkout on the same device before, Klarna's software will match and automatically fill in the required consumer information in the checkout. Consumers simply click the “Buy Now”-button to complete the purchase. The consumer can control this function and can opt out at any time.

Klarna Checkout live in 4 markets

Klarna checkout, already available in Norway, Finland, Sweden and Germany, delivers a friction-free experience for consumers, especially for those shopping on smartphone and tablet devices. Klarna Checkout will become available in other European ecommerce markets later in 2014.

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Sourced from Klarna, May 19th, 2014

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