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 choices.

“Our relationship with Adobe Commerce offers thousands of merchants a flexible, seamless, and smooth way to accept payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term,” 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 Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term 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 has partnered with @AdobeCommerce to enable #merchants to implement its #BNPL services.

Curious to discover more? Check out The Paypers: https://t.co/MMlIt571AG #thepaypers #paymentsnews #financialnews #paymentservices #paymentsolutions #paymentmethods pic.twitter.com/xFEf8UiYb9

— The Paypers (@ThePaypers) July 2, 2024

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.