You are on the right page if you are eager to know more about Klarna in Australia. It’s one of the few companies offering pay-later financing and acts as an alternative to using debit or credit cards.
And what is this all about paying later? Well, this type of short-term installment loan gives you the option to pay back in installments. It’s one of the few programs offering financing services for people making purchases.
What is Klarna
Klarna is one of the leading payment methods established in Sweden in 2005. It provides various financial services, including online purchases, payment processing, and many others. It started its services in Scandinavia, Germany, Netherlands and has continued to establish its online presence in many countries, including Australia. The current statistics average 250,000 merchants in the 17 countries where it is operational.
Australian players enjoy gambling at Klarna casinos due to its simplicity and the added advantage of the pay-later financing option, which is an alternative to paying with a credit or debit card.
Note that Klarna is not a traditional payment method, debit or credit card. It works as an alternative to these payment methods, providing convenient ways to pay for purchases and participate in popular gambling sites even when you don’t have funds in your account.
All you need to do is visit partner stores and online casino sites and access the services at your convenience.
Klarna also has an app, and once you sign up with the method, you can download it on your mobile device and use it to access the services.
How Klarna Works
To start operating with Klarna, you need to create an account first, which is free to open. You can use google play or App Store to download the Klarna app. As soon as you sign up, there are three options that you can accept using Klarna.
- Paying back in 4. This is an interest-free option if you pay within this window. The first window is expected to be paid upon checking out from the store, while the remaining balance is spread over six weeks while making a biweekly payment. When you choose to use this method, log in to your account and make a schedule of payments using your linked card.
- Paying in 30 days. This method allows you to make purchases expecting to pay back the full amount in 30 days. No interest is pegged to this method if paid within the scheduled time.
- An arrangement to pay between 6 to 30 months. If you wish to take longer to pay back the money to Klarna, you can choose this financing option that Klarna’s partner, WebBank, provides. This method, however, has some interest pegged to it because of the duration.
Why Many Online Casinos Choose to Work with Klarna
Klarna is a popular payment method for Aussie punters. Finding an online casino that allows players to use it as a payment method is not a challenge. Most popular online casinos have this as a payment method because of enhanced security, fast payouts, and quick deposits.
If you find an online casino supporting Klarna in Australia, you should be confident about the reliability and safety of the operator. If you are still unsure which online casino to choose and play your favorite poker, check our site and look for the specific casinos with Klarna as their payment method.
How Does Klarna Make Money?
You may wonder how Klarna makes money with its free options besides long-term financing. Their main source of income comes from fees, which they get from retailers who use this financing option. It works like a visa Card where the merchant pays some fees.
Either way, if you are late paying for the Pay in 4, you stand to pay interest of A$7, while the 30 days financing, delayed payment will attract a penalty of A$35.
Pros and Cons of Klarna
All the payment methods have their advantages and disadvantages. This is still so for Klarna, and some of these are;
- Do not pay upfront fees.
- Flexible payment options such as Pay in 4.
- Easy and convenient to use.
- No guarantee for buy now, pay later financing.
- There are penalties imposed on late payments.
- The 6-36 months is attached to an interest fee.
Australian Players stand to enjoy numerous benefits that come along with short-term installment loans. You can earn A$ even when you don’t have your own money to gamble, pay back the money and still have some capital for the next gambling session. But it is essential to watch out for the installment section to avoid paying huge bills at the expense of your budget.
This article was written with support from the Betpokies team; thanks for your input. It was incredibly informative to our readers.
But remember, Gambling can be addictive and a destructive habit. If you or your loved one suffers from a gambling problem, kindly seek help by calling the Gambling Helpline: 1800 858 858.