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Stripe sells its digital payment platform to more than one million business customers worldwide. There are different forms of payment, ranging from traditional credit cards to mobile solutions such as Apple Pay, to create smoother transactions.
Soon, Klaren's consumer credit may also be added as a payment method on Stripe. It tells the co-founder John Collison, as part of a longer interview with Di Digital.
"In Sweden and on a handful of other markets, our users want to be able to pay with Klarna – it's an exciting opportunity for us," he says.
Klarna occupies a strong position in the Nordic countries in terms of consumer credit, that is, bill payments. The model can be compared to banks that issue credit cards and risk accounts at the time of purchase.
"It is important for Stripe to adapt to local markets, so Klarna is important to us, but since our sales are generally very international, Klaren's consumer credit will never be able to represent 100% of their transactions. "said John Collison.
However, it gives little detail on the extent of potential cooperation.
"We are not ready to lift the jacket yet, but we are currently testing with Klarna and some of the Stripe traders," he says.
Di Digital has applied for Klarna, who on behalf of President Aoife Houlihan, refuses to comment.
In this context, Stripe recently took over the services of Sofort in Germany. It is a subsidiary of Klarna since the end of 2013, following an acquisition of just over one billion Swedish krona, which offers direct payments through banking way.
I am very impressed by Klarna and Sebastian Siemiatkowski.
Already last year, data had revealed that Klarna and Stripe had signed a specific cooperation agreement in the United States, but the parties have not yet confirmed it. The United States is a strategically important market for the Swedish growth company, which has missed its internal targets since its inception in 2015, according to Di Digital's previous tasks.
Read more: Klarna misses goals in the United States – the value of the company is always set
Stripe and Klarna also have a complex relationship. The companies share a common principal shareholder in the US venture capital firm Sequoia and their partner, Michael Moritz, is a member of both boards. Kortjätten Visa has also invested in both companies.
In some places, their activities also compete. Klarna has gained market share in the Nordic countries with its "payment product", which allows e-commerce to bill in several ways, recalling the Strip's infrastructure.
"I am very impressed by Klarna and Sebastian Siemiatkowski, we are both active in a large market and it is natural that companies overlap at times, but there is nothing for which I am insomniac," says John Collison. .
The Klaren payment platform is, however, mainly appreciated by traditional e-commerce stores. According to John Collison, no group of customers is actively promoted by Stripe.
Swish is another important player in the Swedish payments market. The mobile service is used by more than 6.5 million individuals, but also by 2,500 online retailers and 170,000 small businesses.
"Swish is a very interesting project and market penetration is almost global," said John Collison.
Stirpe refuses to say whether it is planned to take Swish on the platform. However, according to Di Digital's data, Swish's technical solution should have some limitations that currently prevent such integration.
Read more: Stripes Norden's manager in the hot-payments market: "More sensitive to pressure"
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