Popular BNPL provider Klarna keeps expanding its reach and accessibility through collaboration with JPMorgan Payments.
Swedish fintech Klarna has recently partnered with JPMorgan Payments, a division of a major global bank, JPMorgan Chase & Co., that focuses on offering payment processing and treasury services for businesses of all sizes.
Through this collaboration, Klarna’s Buy Now, Pay Later (BNPL) payment options will be available to consumers and businesses that rely on J.P. Morgan Payments for payment processing. JPMorgan Payments serves clients across multiple industries, including retail, e-commerce, financial services, healthcare, and travel. It caters to all types of businesses, from SMEs to large enterprises and multinational corporations.
Klarna’s payment methods, including interest-free BNPL and flexible financing options, are now available on the J.P. Morgan Payments’ Commerce Solutions Platform, enabling seamless and secure transactions across both B2C and B2B payment segments and providing integrated shopping experiences across multiple channels, including in-store, online, and mobile. The full Klarna integration into the platform is expected to launch later this year.
Furthermore, Klarna will become part of the J.P. Morgan Payments Partner Network, which combines J.P. Morgan Payments’ wide range of payment solutions with its third-party partnerships. This collaboration aims to support clients in developing, implementing, expanding, and optimizing payment strategies tailored to their specific business requirements.
The partnership with the world’s largest merchant acquirer, which processes more than $2 trillion in payment transactions annually, is a major milestone for Klarna. This move will significantly help expand the fintech’s global presence.
Besides, both Klarna and JPMorgan Payments integrate advanced technologies like AI and blockchain into their services to enhance payment security, improve customer experience, reduce fraud, and optimize transaction speed. Therefore, the combination of their innovative capabilities brings business customers numerous additional benefits along with enhanced payment flexibility.
Earlier this year, Klarna made another major deal, partnering with fintech unicorn Stripe to expand its reach.
