Retailers using EKM's eCommerce platform will now have access to Klarna’s payments solution, following a partnership between the two vendors.

Klarna's payment technology will be available to EKM's 30,000 retailers in the UK, as well as the 1,000 small and medium-sized retailers joining the platform every month. EKM's retail clients include Michelin Tyres and Lotus Cars, as well as smaller internet start-ups. 

Shoppers will now benefit from Klarna's ‘pay after delivery’ option, allowing them to pay for goods interest-free, 14 days after receiving.

By removing the need to enter passwords or card details, Klarna said merchants can improve mobile converstion by up to 70%, compared with the industry standard of just three per cent.

Luke Griffiths, UK managing director at Klarna, said: "Blending EKM’s eCommerce platform with Klarna’s payments solution offers a massive benefit to retailers looking to establish themselves online. Together with EKM, we have created a brand new solution, which will make it extremely simple for UK retailers to get online and start selling. Klarna has integrated both the product and the signup process directly into EKM, which means that retailers now will get a complete e-store, including Klarna’s checkout, just by going through one simple signup process. For a retailer, this is as close to instant selling as you will get."

Klarna's 'pay after delivery' option uses risk algorithms to asses whether a transaction is valid using basic information such as the customer’s email address and postcode. Klarna then pays the merchant directly, and takes on the risk of non-payment.

Klarna also said the partnership will help UK retailers establish online quickly, without having to use platforms like the Amazon Marketplace.

Steven Hickey, head of business development at EKM, added: "We know that streamlining payments and offering customer-friendly options like payment after delivery increases conversions - more shoppers become buyers, and they buy more. The integration of EKM with Klarna allows businesses of any size to set up their site and accept payments almost immediately in a single, smooth process. The payment system is revolutionary, and offers customers a payment experience that rivals the biggest names in online retail."

He continued: "Currently, three out of four online checkout attempts are currently being abandoned in the UK. We aim to make EKM’s average checkout conversion far better than this industry average, thanks to Klarna’s powerful payment solution."

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