Klarna will become a default payment method for Worldpay’s global merchant network, expanding customer access to Klarna’s flexible payment services directly through Worldpay’s platform.
Klarna, the AI-driven global flexible payments and shopping network, has strengthened its partnership with Worldpay, a leading payment services provider, becoming a default payment method for all Worldpay merchants globally.
This collaboration aims to improve checkout options for end customers by offering Klarna’s flexible payment solutions — such as buy now, pay later (BNPL) instalment plans and immediate payments by card or direct account-to-account — alongside traditional card methods.
The integration supports Worldpay’s goal to innovate customer payment experiences and aligns with the projected growth of digital wallets. Namely, Worldpay predicts that the use of digital wallets like Klarna will grow by 15% a year between 2023 – 2027. The most significant growth is expected in Asian countries, where 70% of all online payments are already made with virtual wallets involved. However, other regions will also witness a surge in digital wallet use. Thus, the transfer of Klarna’s payment options from the ‘alternative’ to the ‘default’ category reflects a growing public demand for similar payment experiences.
Worldpay ranks among the largest global payment providers, handling over $2.3 trillion in transactions in 2023 for more than a million merchants worldwide. The company facilitates electronic payments for businesses with a range of solutions for online, in-store, and mobile transactions, helping businesses manage and streamline their payment operations across different channels and currencies.
Founded in 2005, Klarna offers flexible payment options, allowing shoppers to split payments, delay payments, or pay immediately. It also operates as an innovative shopping platform with an AI-driven assistant and other shopping tools that make product search easier, providing personalised deals, price tracking, and purchase recommendations. Klarna partners with thousands of global merchants, helping them improve customer experience and conversion rates.
