In some countries (including Italy), customers can even order a physical or virtual Klarna card to pay for anything, anywhere.

This allows them to buy and pay later even from retailers who do not normally offer this option.

Purchases are charged to your account, with the option to pay immediately within 30 days or by installments.

While the majority of Klarna transactions are with online retailers, this option allows traditional brick-and-mortar retailers to benefit from the platform’s services.

Why is it beneficial to allow customers to use online installment payment systems?

Millennials are used to making transactions and purchases online . In 2019 , members of this generation made 60% of their purchases online , compared to 47% in 2017.

But this generational segment is wary business owner database of the traditional credit card industry and, above all, does not like the bureaucracy or interests associated with the world of financing.

Not only that, he is more protective of his personal information , prefers to manage his finances in a flexible and fluid way, and has limited patience with clunky, limiting and unuser -friendly user interfaces .

Some argue that the global financial crisis is partly responsible for the new view that Millennials and Centennials have on money , household finances , banks and purchasing on credit.

One of the benefits of online installment payment options is that they bypass many of the major “hurdles” associated with using credit cards, such as high interest rates , annual fees , and unclear terms of service .

Always keeping in mind the example of Klarna, some data that the same platform returns are also very interesting, regarding the purchasing habits of users who choose online payment by installments systems :

• The average value of orders increased alice whitehead vice president of home health by 55% with the possibility of paying online in 3 or more installments ;
• the average value of orders recorded, with the possibility of making online payments 30 days after purchase, an increase of 23% ;
• as many as 44% of users would give up on the purchase if they could not take advantage of the interest-free online payment plan or the possibility of paying 30 days later;

Here are the best online installment payment systems to integrate into your e-commerce

1. Klarna

Furthermore, as we have already told mobile list you before, through physical or virtual cards it allows you to pay in installments or postpone payments even at offline retailers.

2. Scalapay

Born in 2019, Scalapay is the Italian version of Klarna. To date it allows users to use “only” the 3 installment option online and offers the possibility of paying in installments , by generating a temporary barcode on the mobile application, even purchases made at stores .