E-commerce Made Easy: Adding Klarna to Your Shopify Website
Integrating Klarna into your Shopify store can dramatically improve the checkout experience, offering more flexibility for your customers and potentially increasing your conversion rates. In this guide, we’ll explore the easiest methods for setting up Klarna, including direct integration and through Stripe, highlighting the benefits and potential drawbacks of each approach.
The Easiest Way to Create Klarna: Via Stripe
Integrating Klarna through Stripe is often the simplest way for any merchants, especially those who may face challenges in securing a direct account due to stringent requirements or their business type, such as drop-shippers and other high-risk merchants. Setting up Stripe to enable Klarna involves fewer steps and less scrutiny, making it an attractive option for many e-commerce businesses.
Klarna Direct vs. Stripe: Account Creation Process
Creating a Klarna Direct Merchant Account:
– Process: Applying for a Klarna merchant account directly involves a comprehensive review, including a detailed evaluation of your business model, financial health, and a credit check.
– Timeframe: The process can be lengthy, particularly for new or small businesses without a strong financial history.
Creating a Stripe Account and Activating Klarna:
– Process: Registering for Stripe is straightforward, requiring registered business, basic business information and bank details. Once your Stripe account is active, enabling Klarna is just a matter of configuring your payment settings.
– Timeframe: Setting up Stripe and activating Klarna can typically be completed in a much shorter period, often within a day.
Comparing Benefits and Disadvantages
Klarna Direct:
– Benefits: Potentially lower transaction fees and direct support from Klarna.
– Disadvantages: The application process can be cumbersome, especially for high-risk industries such as drop-shipping, electronics, and others prone to high chargeback rates. Klarna Direct merchant account Direct settlement delay can be minimum 7 days or more.
Klarna via Stripe:
– Benefits: Easier approval process, quick setup, and access to Stripe’s additional features and extensive support network. And also Klarna via Stripe offer quicker fund settlement lead time. for Newer Stripe account this will be 3-5 working days, this can come down to 1-2 days when Stripe account get aged and when you on good books with Stripe 😊.
– Disadvantages: May include little higher transaction fees compared to Klarna direct due to being a third-party payment aggregator.
Installation Guides
Installing Klarna Direct with Shopify:
1. Log into your Shopify admin panel.
2. Navigate to the ‘Payments’ section under settings.
3. Select Klarna from the list of payment providers and enter your Klarna merchant credentials.
4. Follow the prompts to complete the integration and configure your settings.
Installing Klarna by Stripe with Shopify
Installing Klarna by Stripe with Shopify (via CartDNA Klarna by Stripe App)
1. Install the CartDNA Klarna by Stripe app from the Shopify app store.
2. Connect your Stripe account directly through the CartDNA Klarna app by adding Publishable API Key and Secret Key. Press config WebHook Button and hit activate button.
3. Enable Klarna as a payment method within Stripe and sync it with your Shopify store using the app.
4. Configure the app settings to suit your business needs and ready to roll.
Conclusion
Frequently Asked Questions about Adding Klarna to Shopify Stores
The easiest way to add Klarna to your Shopify store is through Stripe. Install the CartDNA Klarna by Stripe app, connect your Stripe account, and enable Klarna as a payment method. This setup is straightforward and typically can be completed within a day.
Setting up Klarna directly involves a comprehensive review and can be time-consuming, especially for high-risk businesses. In contrast, using Stripe simplifies the process, offering quicker setup and easier approval. However, using Stripe may involve slightly higher transaction fees.
While transaction fees might be slightly higher using Klarna via Stripe, the approval process is easier, and fund settlement times are quicker, ranging from 3-5 working days initially, which can reduce to 1-2 days as your account ages.
Klarna offers flexible payment options like installment payments and deferred payments, which cater to various customer needs. This flexibility reduces cart abandonment, especially for high-ticket items, by making purchases more manageable for customers.
Klarna’s reputation for secure and flexible payments builds immediate trust with customers. The “Buy Now, Pay Later” model and user-friendly interface enhance the shopping experience, encouraging repeat business and fostering long-term customer loyalty.
