{"id":29199,"date":"2021-11-02T03:38:00","date_gmt":"2021-11-02T03:38:00","guid":{"rendered":"https:\/\/codeandpepper.com\/?p=29199"},"modified":"2021-11-09T08:46:51","modified_gmt":"2021-11-09T08:46:51","slug":"fintech-wire-53-weekly-news-26-october-1-november-2021","status":"publish","type":"post","link":"https:\/\/codeandpepper.com\/fintech-wire-53-weekly-news-26-october-1-november-2021\/","title":{"rendered":"FinTech Wire #53: Klarna Partners with Stripe, B2B BNPL Solution to Expand into the UK"},"content":{"rendered":"\n

Buy now pay later solutions<\/strong> have been in the spotlight of the FinTech news feeds this week. Klarna<\/strong> has made a significant move towards further growth by partnering with another industry leader Stripe<\/strong>, while the German startup Billie<\/strong> has raised funding to bring BNPL to British businesses. However, BNPL is not all roses: a recent survey by Laybuy<\/strong> reveals that the majority of customers agree that credit checks should be required to access these products.<\/p>\n\n\n\n\n\n\n\n

\"Weekly<\/figure><\/div>\n\n\n\n

Weekly FinTech news digest: 26 October\u20141 November 2021<\/h2>\n\n\n\n

Klarna announced a strategic partnership with Stripe<\/h1>\n
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Klarna will now be available as a payment method on the Stripe platform<\/h2>\n <\/div>\n <\/div>\n
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Klarna\u2019s CTO Koen K\u00f6ppen and Stripe\u2019s CPO Will Gaybrick released a joint announcement<\/a> that revealed a new strategic partnership between the two firms. The collaboration will allow retailers that use the Stripe payments platform to activate buy now, pay later option <\/strong>provided by Klarna<\/a> as a payment method<\/a> in their checkout with just a few clicks, hassle-free. What is more, Klarna revealed that already 90% of its payments volume in the US and Canada is covered by Stripe<\/a>. Both companies have expressed interest in expanding their close partnership to more countries. The businesses that have already implemented Klarna in their Stripe checkout have seen a 27% increase in sales on average. In some cases, retailers noticed that 40% of users choosing Klarna are new customers, which confirms that Klarna\u2019s app is also an effective way to generate leads.<\/p>\n

Read more about the most popular payment platforms<\/a><\/b><\/p>\n <\/div>\n \n \n<\/svg>\n<\/article>\n\n\n\n

Survey reveals the need for credit checks before accessing BNPL products<\/h1>\n
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81% of respondents agreed that credit checks should be mandatory for BNPL customers<\/h2>\n <\/div>\n <\/div>\n
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Laybuy<\/a>, the only BNPL FinTech<\/a> that conducts hard credit checks<\/strong>, has asked more than 2,000 respondents in the UK about their use of buy now pay later products. The survey revealed that<\/a>:<\/p>\n