Klarna Partners With JP Morgan to Expand BNPL Options for Global Businesses

Klarna said it has signed an agreement with JP Morgan Payments that will make Klarna’s buy now, pay later payment options available to businesses that rely on JP Morgan Payments for payment processing.

Klarna said JP Morgan Payments processes more than $2 trillion in payment transactions annually “and is a powerful provider to help expand Klarna’s global presence, supporting consumers everywhere to pay smarter.”

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Terms of the deal were not disclosed.

Klarna said the agreement will make its payment methods, including the company’s interest-free BNPL and flexible financing options, fully available on the JP Morgan Payments’ Commerce Solutions Platform. Klarna said the integration is expected to launch sometime later this year.

David Sykes, chief commercial officer at Klarna, described the agreement as a major milestone for the company. “By collaborating with JP Morgan Payments, we’re bringing our payment solutions to even more businesses and fast-tracking our ambition to make Klarna payments available everywhere, for everything. Together with JP Morgan Payments, we’re giving shoppers the flexibility they want while helping businesses grow faster,” Sykes said.

Klarna said the agreement will provide businesses “access to one of the most popular payment networks in the world, helping them compete in an increasingly digital and customer-driven marketplace.” Klarna said it will also be joining the JP Morgan Payments Partner Network, which convenes JP Morgan Payments’ extensive suite of payment solutions and its third-party relationships “to help clients build, implement, expand and optimize payments strategies based on their business needs.”

The AI-powered payments solution provider said JP Morgan Payments’ scale, stability and reach with Klarna’s innovative and trusted payment technology “will help create more opportunities for businesses to grow and for consumers to shop how they want, where they want.”

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