Advertisement
10/21/2020

Etsy crafts flex payment option

Dan Berthiaume
Senior Editor, Technology
Dan Berthiaume profile picture

Etsy is enabling shoppers to create online payments in four installments. 

The handmade and vintage goods e-commerce retailer is deploying the Klarna “Buy Now, Pay Later” solution in the U.S. As a result, customers can make online purchases between $50 and $10,000 USD in four equal installments with no interest using the Klarna solution, running on the Ayden payments platform. 

Etsy is beginning a planned global rollout of installment payments in the U.S. and expects to roll out Klarna flexible payment technology in other core markets in 2021. The retailer has been globally diversifying its payment options, introducing its proprietary Etsy Payments digital payment service in seven additional countries in August, with three more countries planned by the end of the year.

A number of retailers have implemented Klarna’s online installment payment solution in recent months. Examples include Macy’s, Sephora, ModCloth, and Forever21’s U.K. online store.

"We're excited to work with Klarna to expand the number of payment options available to shoppers through Etsy Payments," said Kruti Patel Goyal, Etsy's chief product officer. "Klarna will enable shoppers to buy on Etsy with greater financial control and convenience, without additional fees for sellers. We believe this flexible solution will be particularly valuable during the peak holiday shopping period when many shoppers are buying special items for their loved ones." 

"We are thrilled to grow our relationship with Etsy to make it even easier for their vibrant buyer community to get the items they love," said Sebastian Siemiatkowski, CEO at Klarna. "Not only does this relationship bring new flexible payment options to shoppers globally, we're proud to work with Etsy, a platform that supports small businesses around the world."