U.S. shoppers will soon be able to pay for their eBay purchases in installments, as the marketplace expands its partnership with Klarna.
Klarna’s buy now, pay later (BNPL) services have already been available to eBay shoppers in European countries like the UK, Austria, France, Italy, and Spain. Now, millions of U.S. consumers will be able to leverage BNPL loans to shop among more than two billion listings on the marketplace.
The deal extends beyond installment loans. Klarna has also recently introduced its resell feature to U.S. eBay shoppers. This allows users to list previous Klarna purchases, complete with pre-populated pictures and descriptions, on the marketplace to streamline the selling process. Since its launch in December, this functionality has already created over 500,000 new listings.
A Partnership Trend
The partnership continues a trend of major deals for both Klarna and eBay.
For example, eBay added Venmo as a payment option last summer to attract the peer-to-peer platform’s younger user base. Since approximately 60% of eBay’s volume comes from mobile devices, the marketplace expects that adding Venmo will lead to higher sales and reduce cart abandonment.
To streamline its global payment capabilities, eBay recently announced a partnership with UK-based digital payments processor Checkout.com. In addition to its payments platform, eBay plans to leverage Checkout’s fraud prevention tools and AI-driven transaction optimization capabilities.
Impactful Strides
As significant as these deals have been for eBay, Klarna has made more impactful strides—many of which have served to expand the Swedish-based company’s U.S. footprint.
The company recently signed a deal to bring its BNPL products to Clover’s point-of-sale systems. Clover is one of the leading POS providers in the U.S., especially among small- to medium-sized enterprises.
Klarna has also teamed up with the world’s largest retailer: Walmart. Under this agreement Klarna will become the exclusive BNPL provider for Walmart’s OnePay platform, a role previously held by BNPL competitor Affirm.
