BNPL big hitter Klarna goes live with J.P. Morgan Payments opening its full suite to US merchants - Retail Technology Innovation Hub
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Klarna reports an agreement that will, for the first time, make its full solutions suite (pay in full, interest free installments, longer-term financing) available to businesses that rely on J.P. Morgan Payments for payment processing. The integration with the latter's Commerce Platform is now live in the US. "This is a major milestone for Klarna," says David Sykes, Chief Commercial Officer at Klarna. "By collaborating with J.P. Morgan Payments, we're bringing our payment solutions to even more businesses and fast tracking our ambition to make Klarna payments available everywhere, for everything. Together, we're giving shoppers the flexibility they want while helping businesses grow faster." "In talking with merchants every day, we know flexible payments drive conversion, but implementation can be a barrier," says Michael Lozanoff, Global Head of Merchant Services at J.P. Morgan Payments, which is the largest merchant acquirer in the US, processing $2.6 trillion annually. "This removes that barrier at scale, across every retail category from apparel to travel to health and wellness.. "By bringing Klarna directly onto our Commerce Platform, we're helping remove that barrier for businesses of every size. This is an example of the kind of integrations our merchants are seeking." Klarna will also join the J.P. Morgan Payments Partner Network, which brings together J.P. Morgan...
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