AliExpress, a global marketplace owned by Chinese e-commerce titan Alibaba, will now be offering consumers in Germany, Austria, the Netherlands and Finland a new way to pay for their purchases.
Alipay, Klarna and Adyen, three global leaders in payment services, have teamed up to implement Klarna’s popular “Pay Later” service on the site, according to a release from the company.
Now, shoppers can choose the option at checkout and pay for their purchases after receiving them. The service has become popular with shoppers in Europe, as it allows them to order and try out wares at home before actually parting with their money. Klarna’s Pay Later option also allows for one-click ordering after the first transaction.
Adyen, which enables Alipay’s services, will take the lead on enabling Klarna’s Pay Later program on the AliExpress site.
“By providing our smooth, convenient, flexible and popular Pay Later option, allowing their shoppers to get their goods before they pay, AliExpress will be able to drive consumer preference, increase average order value and decrease cart abandonment rates,” said Michael Rouse, chief commercial officer at Klarna. “This is just the first phase of this partnership and we look forward to expanding this to additional markets with Alipay, Adyen and AliExpress very soon.”
“Klarna’s Pay Later has established itself as one of the most preferred payment alternatives across certain European markets, with high demand from consumers, and we are excited to add this popular option to our checkout on multiple markets,” said Cheer Zhang, head of global consumer and market operations at AliExpress.
Klarna is one of the biggest players in the market, with 60 million consumers using its payment solutions. The company supports 100,000 retail partners globally, and has become the preferred checkout method in countries like Germany, where the company said it commands up to 80% of checkouts in certain verticals.
Editor’s Note: This story was reported by FN’s sister magazine Sourcing Journal. For more, visit Sourcingjournal.com.