Klarna, Clearpay, and other split payment methods are important for online sales growth because they provide an alternative payment option that can increase conversion rates and customer satisfaction.
These payment methods allow customers to split the cost of a purchase into smaller, more manageable payments over time, rather than paying for the entire purchase upfront.
This can be especially attractive to customers who may not have the funds to make a large purchase all at once, but still want to buy the product. By offering split payment options, retailers can tap into this customer base and potentially increase their sales.
Furthermore, these payment methods often have a user-friendly and streamlined checkout process, which can lead to a smoother customer experience and a higher likelihood of completing the purchase.
Additionally, Klarna, Clearpay, and other similar payment methods typically offer additional features such as fraud protection, buyer protection, and easy returns, which can increase customer confidence and trust in the retailer.
By offering split payment options, retailers can cater to a wider range of customers and potentially boost their sales, while also improving the customer experience and satisfaction.
Shopify has partnered with several popular payment providers such as Klarna, Clearpay, and Afterpay, among others. These providers offer customers throughout the world the ability to split their purchase into smaller payments over time, and allow retailers to offer a streamlined checkout experience for customers.
Shopify also offers its own split payment solution called "Shop Pay Instalments," which allows customers to split their purchase into four equal payments. This feature is currently available in the United States and will be rolled out to other countries in the future.
It's worth noting that the availability of split payment options may vary depending on the country or region where the retailer is based. However, Shopify's partnerships with various split payment providers ensure that retailers can offer split payment options to their customers in many different countries.