TrustRadius Insights for Klarna Checkout are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.
Business Problems Solved
Klarna, a popular payment service, has been both beneficial and problematic for users in various ways. One of the key advantages is its ability to split payments into four installments, making purchases more affordable for users who may not be able to pay upfront. This feature has helped users stay within their monthly budgets and improve their financial health by avoiding the need to use credit cards or accumulate debt. Additionally, Klarna's interest-free payments have been advantageous for some users.
However, Klarna has faced criticism as well. Some users have reported ongoing issues with identity verification and difficulties in obtaining refunds from the service. The payment tracking system has been unreliable for certain individuals, resulting in unexpected charges on user accounts. Furthermore, customer service has been unhelpful in resolving these issues for some users. Despite these challenges, Klarna remains a convenient option for many, allowing them to make installment payments for essential purchases and buy products instantly from online stores. It also benefits businesses by increasing sales and conversions after introducing financing options.
We use Klarna to provide flexible payment options to our customers as they purchase from our online stores. Slice It and Pay over X Months definitely increase checkout conversion and are super easy for our customers to use if they have an existing Klarna account.
Pros
Magento Integration
Flexible Payment Options
Klarna Dashboard
Cons
Some Magento integration needs extra customisation
Account setup can take time
Able to configure your own offers via the dashboard
Likelihood to Recommend
To get a flexible set of payment options quickly provisioned on your online store, Klarna is ideal. They offer the usual payment options and also additional buy now pay later options which give the customer a full selection of choices. With Klarna you can do one integration and get access to all of these.
I run a small retail business and use Klarna as a payment option through my 3dcart hosted page. It allows customers the opportunity to make payments on purchases as opposed to paying upfront in a lump sum payment. It helps offer my customer base flexibility and boosts my sales.
Pros
Flexible payment option.
Easy to navigate the back end.
Cons
Customer support is terrible, getting an agent who fully comprehends the issue or who has any power to help is near impossible.
Likelihood to Recommend
Klarna is great for any retailer who is looking to offer payment options to their customers. It is primarily a resource for retailers, but probably not a good tool for people who work in different kinds of sales departments.