The three announced their collaboration to offer consumers an ‘afterwards payment method’ on AliExpress. The "Pay Later" solution from Klarna is for now only available for AliExpress customers in the Netherlands, Germany, Austria and Finland. The goal is to add more countries during the course of this year.

More options in checkout

Michael Rouse, CCO of Klarna, is happy with the collaboration and the fact that shoppers now have more options during the checkout process. He emphasises that this is only the first phase of the collaboration. Klarna is looking forward to expanding to other markets in the short term, along with Alipay, Adyen and AliExpress as well.

Cheer Zhang is responsible for international expansion projects at Alibaba. He says they are constantly looking for ways to improve the customer experience of the popular B2C marketplace AliExpress. “Klarna's Pay Later has proven to be one of the most popular solutions in the European market. We are excited to now add this payment method to our checkout in multiple countries.”

When ordering something from Aliexpress in Europe, it is not unusual for orders to arrive after a full month. This is why it can take a while for retailers to receive their money when a customer chooses for Klarna’s payment method.

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Not only has the sales volume increased to double digits, so did the net sales: last year it increased by 31% to around 561 million euros. According to the company, their offer is continuing to do well in all markets with consumers, traders and partners. The service provider has connected over 130,000 retailers. Approximately 25,000 joined for the first time during the previous year. Together they account for around 1 million transactions per day.

Klarna: 26 million new customers

The payment service provider has not only become more popular among retailers, but consumers are also starting to increasingly familiarise themselves with the payment company. Last year, Klarna welcomed nearly 26 million new customers around the world. The annual report shows that more than 70% of all customers make multiple repeat payments via Klarna.

Major retail brands and web stores have joined the payment service provider over the years. Recent customers include Ikea, Expedia, Ticketmaster, Sonos, Sephora, H&M and Etsy.

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Klarna’s single technological platform will enable an end-to-end customer journey across all H&M channels. This will include in-store, mobile and online payments, simplified deliveries and returns and the flexibility to decide how and when to pay including the popular ‘try before you buy’ Pay later service. All of these will be integrated into the next generation of the H&M app and H&M Club. The changes will be made for all markets H&M is active in, starting with the United Kingdom and Sweden in the first phase. This phase is expected to go live in 2019.

Furthermore, H&M group will make an investment in Klarna.

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