How to Connect with Klarna Payments for BigCommerce?

Updated: June 16, 2021

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As an eCommerce retailer, it is essential to keep up with good statistics about your customers and orders. In the present age, thanks to technological advancement, most online merchants can quickly keep track of their performance by checking the Average Order Value (AOV) and conversion rates on a daily basis. The matter here is that making the number follow a growing trend is not something that everyone can do. We have just the right answer that you are seeking for: Klarna Payments!

It is also the main topic of today’s article. We will be discussing how Klarna Payments works, how it is beneficial to online store owners, and in particular How to set up Klarna BigCommerce integration for your website. Keep reading to find out more!

Table of contents

An introduction to Klarna Payments

About Klarna

Established in 2005, Klarna has been popular in the industry for payment processing services, which will facilitate all of your transactions at the checkout stage. More than 15 years working, they have collaborated with up to 90 million merchants and some of the biggest businesses ever, ranging from H&M, ASOS, Topshop to even Halfords is one of its clients.

Updating Klarna for your online store means that your customers will be allowed to complete their payments a specific number of times instead of paying all at once. In addition, they offer retailers four different payment options, including:

  • Pay in 4: this is the most widely used Klarna payment method. It permits your customers to pay in for equal installments, once every two weeks.
  • Pay in 30: a great thing about this installment is that your consumers have up to 30 days after their products have been delivered to pay for it. So there is no need to process their transactions at the check-out phase.
  • Pay Now: There is not much difference between Klarna Pay Now and immediate checkout, but you have to use an app to do so.
  • Financing: then you can also apply for a loan option for your customer lasting from 6 to 36 months called Klarna Financing. However, along with this, they may have to pay an annual percentage rate of 0% to 29.99% to Klarna.

Why should you set up Klarna BigCommerce integration for your store?

Klarna BigCommerce benefits

Now that you have a grasp of how Klarna works, we will explain the reasons leading to its popularity. It is stated that the number of Klarna BigCommerce integration users has increased substantially in recent years. You must be curious about the benefits that Klarna Payments will bring back to your online business, and here is the list of them:

  • Quick setting up tools: By simplifying the process, Klarna BigCommerce integration makes it simpler for online merchants to set up the whole system. Every time you update your software, new versions are immediately delivered, and updates are continually optimized.
  • Getting paid immediately: You’ll be paid as soon as your consumer decides to purchase any item from your store by Klarna instead of waiting for the plans to end. Worrying about late payments for your merchandise is unnecessary.
  • Flexible payment gateways: As mentioned previously, your client will be able to pay later in four diverse ways. This doesn’t imply that you have to provide all of the available payment options. Klarna BigCommerce integration will give you the ability to customize which payment gateways to offer based on your preferences.
  • Higher profits: Making things easy for customers makes it more likely that they will stick around. Of those consumers who responded to a Klarna poll done in 2018, 94% said that they would return to buy from a merchant who accepts delayed payments.
  • Gaining better customer insights: Data you collect about your consumers, such as which items consumers are purchasing and how many people are opting for various payment methods, helps your company thrive.
  • Fraud and credit risk warnings: Both the customers and online merchants are protected by the fraud alarms tool. In this way, Klarna ensures you don’t lose any money in the transaction.
  • Secured system: You may be certain that your money and confidential information are secure with Klarna, since they are working as a bank. It is equipped with a transaction fraud warning as well.

How to connect Klarna Payments for your BigCommerce business?

That is everything you need to know when it comes to Klarna BigCommerce integration, it is time to set up the tool for your online business. The tutorial is divided into small basic steps so you can quickly understand and follow every one of them.

No more beating around the bush, let’s dive into that!

Step 1: Before getting started

There are several requirements that users need to fulfill before setting up the integration process. Therefore, please make sure that you are qualified first then we can move to the next step: It is a must for your store to use Optimized One-Page Checkout. You can check out the complete guide here. In case you are using other payment methods beside Klarna, they must also work using the Optimized One-Page Checkout. Up to the present, Klarna only offers their services in one of the following nations with their corresponding currencies. Otherwise, you may have to look for their alternative to work with:

  • Australia (AUD)
  • Austria (EUR)
  • Belgium (EUR)
  • Denmark (DKK)
  • Finland (EUR)
  • Germany (EUR)
  • Italy (EUR)
  • The Netherlands (EUR)
  • Norway (NOK)
  • Spain (EUR)
  • Sweden (SEK)
  • Switzerland (CHF)
  • United Kingdom (GBP)
  • United States (USD)

Step 2: Set up your Klarna account

In case you have not signed up for one of Klarna Payments merchant accounts to make the BigCommerce integration works properly, quickly apply for one as a US Merchant, EU Merchant or OC Merchant.

On the other hand, if you have already set up your account or finish the set up process, go to “Settings” at your Klarna Control Panel:

Klarna Settings page

At the Klarna Settings page, click on “Generate new API credentials” located in the center of the screen:

Klarna generating new API credentials

Once you have clicked on this button, Klarna will give you the Username (UID) and a Password code along with the “Download as .txt” option. It is important to remember these two types of information so don’t close the Klarna tab yet, we will need it for the next step!

Copy and Paste this information

Step 3: Set up your BigCommerce account

Moving on, open a new tab and go to your BigCommerce Dashboard > Store Setup:

BigCommerce Store Setup

At this stage, choose “Payments” selection on the left-hand side of the screen:

Payments page

Expand the Online Payment Methods section, you will see a button saying “Set up” next to the Klarna Payments like this:

Setting up Klarna BigCommerce

The real Klarna BigCommerce integration starts here, at this point, the system will redirect you to a pop-up site asking you to fill out the form to finish the process. As you can see in the image, the first two boxes are the Username and Password fields, all you have to do is go back to the Klarna tab, copy and paste in the code you have received earlier:

Copy and Paste this information

Last but not least, don’t forget to “Save” your work or else you have to start all over again!

Step 4: Fraud checking using Klarna BigCommerce connection

Talking about handling money and transactions, it is inevitable that you might have to deal with internet frauds or hackers trying to steal your profits. But, don’t worry too much because Klarna BigCommerce integration is going to solve your problems!

They automatically send store owners whenever there is a red alarm relating to frauds. Klarna has decided to label every order into three statuses of Approved, Pending, and Rejected, to make it more smooth. You can receive the transaction at every state; nonetheless, we believe that capturing money on orders with the Approved one yields better results.

Orders approved by Klarna

To verify the validity of an order with Klarna, an automatic fraud check is performed. Then, the transaction is either Accepted or Denied in no more than 24 hours. With this advancement, you can decrease the possibility of fake customers or uninvited guests to your website!

Conclusion

To sum up, we hope that this article has cleared your thoughts revolving around how Klarna Payments works, its advantages, and successfully installed the Klarna BigCommerce integration for higher profits. However, before leaving, remember that making good use of this application can earn you unexpected results!

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