Consumers in the United States can now use the Buy Now, Pay Later (BNPL) service on eBay.
The mentioned e-commerce giant has expanded its collaboration with the payment company Klarna, extending this partnership to the US market. The relevant information is contained in a press release that was published by eBay last Wednesday, April 23.
Now, American consumers shopping on the mentioned e-commerce platform can split eligible purchases into four interest-free payments. This feature is available through Klarna’s Pay in 4 plan. Also, after the expansion of cooperation between the payment company and the e-commerce giant, American consumers are offered a solution such as long-term financing options for higher-ticket transactions.
The launch of the new features for customers in the United States was announced after Klarna rolled out similar services for eBay shoppers in countries such as the United Kingdom, Austria, France, Italy, Spain, and the Netherlands.
In addition to flexible payment plans, Klarna has introduced a resale feature in its app. In this case, consumers can list previously purchased items on eBay. The relevant information is contained in the press release. The mentioned tool automatically populates listings with item photos and descriptions. In this case, the resale process is simplified.
The press release also contains information according to which, since December, the mentioned feature has generated more than 500,000 new eBay listings, including refurbished electronics, preowned fashion items, and collectibles.
It is worth noting that Klarna has a significant presence in the brick-and-mortar retail space. For example, the company has a partnership with Clover. As part of this collaboration, shoppers have the opportunity at more than 100,000 stores to pay in installments.
The press release noted that Klarna processes about 3 million transactions worldwide every day.
The broader scope of eBay’s payment acceptance efforts also includes a partnership with Checkout.com. This collaboration focuses on the processing of payment transactions.
Last year, eBay added Venmo as a checkout option for US consumers. The company also introduced Flexible Cash Advance funding options to help entrepreneurial United States-based sellers gain access to working capital.
There is currently a growing demand for BNPL services. According to media reports, the popularity of short-term, fixed payments of the mentioned category are becoming more popular among consumers. This tendency is explained by the fact that within the framework of the specified solutions, users gain a higher level of control over their cash flows.
The results of special industry research indicate that BNPL transactions in the United States are valued at $175 billion. Ahead of the holidays at the end of 2024, 38% of US consumers used the mentioned service. Also, over the past year, 128 million American adults leveraged a pay-later product from at least one alternative credit provider. It is also noteworthy that in 2024, the use of BNPL in the United States was the same as that of credit cards.
As we have reported earlier, Klarna Brings BNPL to High-Speed Rail.
