Ebay and Klarna have broadened their partnership to offer ‘Buy Now, Pay Later’ (BNPL) services in additional European regions.
- The initial success in Germany led to the expansion in the UK, Austria, France, Italy, the Netherlands, and Spain.
- Ebay customers can select from various Klarna payment plans, tailored to their locale.
- A report shows nearly half of Gen Z and Millennials have used BNPL in the last year.
- Ebay’s new scheme synchronises with a tech trade-in initiative, offering financial flexibility.
Ebay has expanded its collaboration with Klarna to provide Buy Now, Pay Later (BNPL) solutions to more European countries, following a successful launch in Germany. This expansion now includes the United Kingdom, Austria, France, Italy, the Netherlands, and Spain, with plans for further growth. Ebay shoppers in these countries can now choose from Klarna’s flexible payment options, which vary by location. Options include interest-free payments divided into three instalments, payments deferred for 30 days, or long-term financing for more significant purchases over an extended period.
This expansion aligns with findings from a recent 2024 PYMNTS Intelligence report showing that nearly half of Gen Z and Millennial consumers have utilised BNPL services in the past year. This data highlights the rising preference for payment flexibility among younger consumers, making the expansion timely and relevant.
Avritti Khandurie Mittal, Ebay’s VP and general manager of global payments and financial services, stated, “We are unlocking greater payment choice and flexibility for Ebay shoppers by expanding our strategic partnership with Klarna to several key markets.” She emphasised the value Ebay customers place on flexibility, noting that over two billion listings offer a range of items from rare collectibles to luxury goods.
In conjunction with this expansion, Ebay UK has launched a tech trade-in offer, allowing customers to recycle old technology while earning additional funds. This service, covering various popular devices such as phones, tablets, smartwatches, and consoles, incurs no upfront fees. This initiative not only complements the BNPL expansion but further supports financial flexibility for shoppers.
Ebay and Klarna’s strategic partnership promotes consumer flexibility and aligns with shifting payment preferences.
