Klarna And J.P. Morgan Payments Bring BNPL To More Businesses

Klarna has partnered with J.P. Morgan Payments to bring its Buy Now, Pay Later (BNPL) options to businesses. This is the first time Klarna’s BNPL services will be part of J.P. Morgan Payments’ network. According to the update, J.P. Morgan Payments processes more than USD 2 trillion in transactions every year, making it one of the largest payment processors in the world.

This partnership will help Klarna reach more merchants and customers. Klarna’s BNPL services allow shoppers to split their payments over time, making it easier to buy things. The company stated that this new agreement will provide more payment choices to businesses and shoppers.

Klarna’s Upcoming Plans Include A Possible US IPO

As Klarna prepares for its IPO and continues to grow, many businesses and consumers are eager to see how its services will evolve. The company added that the partnership with J.P. Morgan Payments is a major step in expanding its influence in the payment industry. Klarna’s BNPL services will soon be available to many more businesses, making it easier for customers to shop with flexible payment plans.

The new partnership with J.P. Morgan Payments will help Klarna expand its reach and make its BNPL services available to more businesses. Klarna stated that it remains focused on providing easy and flexible payment options for both merchants and shoppers.

Klarna is also preparing for a potential IPO in the US. The company filed for an IPO with the US Securities and Exchange Commission in November. The firm could announce its listing plans as early as April 2025, but it has not yet chosen a listing venue in the US.

The company has been working on cutting costs and reducing its balance sheet ahead of the IPO. It is using artificial intelligence (AI) to reduce its workforce by almost half. Klarna has also been selling loans to free up money for lending growth. Recently, it sold most of its UK loan portfolio to US hedge fund Elliott.

Klarna’s BNPL Services Will Be Added To J.P. Morgan’s Commerce Platform

Klarna’s BNPL options, including interest-free and flexible financing, will soon be part of J.P. Morgan Payments’ Commerce Solutions Platform. The company stated that this integration will go live later in the year, and that the partnership will help businesses grow by giving customers more payment flexibility.

The collaboration will also allow Klarna to join J.P. Morgan Payments Partner Network. This network connects different payment solutions with other providers to help businesses improve their payment systems. The organisation noted that being part of this network will help more businesses use its payment services.