Klarna Alternatives: 5 Easy-To-Use Payment Solutions Similar to Klarna

Buy now, pay later services like Klarna have surged in popularity by allowing consumers to split payments over time. However, some shoppers are seeking Klarna alternatives for more flexible payment options. This article will introduce 5 sites like Klarna with easy-to-use payment solutions to consider in 2023. We’ll explore key features, pros and cons of each to help you find the right fit. Read on to learn about top Klarna competitors.

What is Klarna?

Founded in 2005 in Stockholm, Klarna is a financial technology company that offers buy now, pay later services. Operating in 20 markets, Klarna allows consumers to split payments for online purchases into interest-free installments. This gives customers more flexibility in how they pay. Klarna also provides services like virtual shopping and merchant payment solutions. With over 147 million users worldwide, Klarna aims to make shopping smooth while giving consumers payment options.

Klarna’s unique selling propositions:

• Interest-free installment plans up to 30 days after purchase
• No credit checks or long-term contracts required
• Fast and easy mobile app sign-up and payments
• Wide network of over 400,000 merchant partners globally
• “Pay in 4” option to split payment into 4 interest-free installments

Why To Look For Klarna Alternatives?

Though Klarna is a top choice for pay later options, some consumers want to explore similar sites for even more flexible payment solutions. Here are 5 key reasons to consider alternatives:

1. Higher purchase limits – Klarna often has stricter limits on purchase amounts allowed. Alternatives may offer higher thresholds.
2. Wider merchant acceptance – While Klarna is widely adopted, some alternatives are accepted at even more online stores.
3. Lower or no fees – Some sites offer installment plans with little to no fees, undercutting Klarna.
4. Improved user experience – From smoother apps to better service, competitors may provide a preferable user experience.
5. Specific financing options – Alternatives could offer specialized financing like healthcare plans not found with Klarna.

TOP 5 Sites Exactly Like Klarna

Let’s explore 5 leading contenders that offer similar pay later functionality and flexible payment options as Klarna:

• Afterpay: An Australian fintech company, Afterpay allows customers to purchase goods online and pay for them in four equal installments, due every two weeks.
• Affirm: Founded in the U.S., Affirm offers consumers a way to immediately purchase and receive an item online, and then pay for it over time with monthly installments.
• PayBright: This is a Canadian payment plan service that enables customers to buy now and pay later with monthly installments.
• Laybuy: Originating from New Zealand, Laybuy offers consumers the ability to spread the cost of their online purchases over six weekly automatic payments.
• Sezzle: Similar to Afterpay, Sezzle allows customers to make online purchases and then split the payment into four interest-free payments over six weeks.

We’ll now break down the key features and value of each Klarna alternative.

Afterpay

Founded in 2014, Afterpay is an Australian financial technology company that allows shoppers to split purchases into 4 interest-free installments paid every 2 weeks. Afterpay operates in North America, Europe, Australia and New Zealand. With over 16 million users, Afterpay aims to empower responsible spending among younger demographics.

Key features include:

• No interest, fees or credit checks on installments
• $50 minimum and $1,500 maximum purchase price
• App linked to debit card, bank account or eMoney payment
• Over 100,000 retailers across sectors

Competitive advantages over Klarna:

• Higher maximum purchase price of $1,500
• Access to exclusive brand and product launches
• Popular among Millennial and Gen Z demographics

However, Klarna offers lower repayment periods of 30 days and a larger merchant network.

Ideal for younger shoppers who want an easy-to-use and trendy payment option accepted widely in apparel and beauty. Afterpay lets you pay over time interest-free.

Affirm

Launched in 2012, Affirm is a financial services company based in San Francisco that provides installment loans to consumers. With over 12 million users, Affirm partners with over 100,000 retailers to give customers the ability to purchase now and make monthly payments over 3, 6 or 12 months.

Key features include:

• 0% APR financing for 3 or 6 months with select retailers
• Minimum purchase of $50 up to maximum of $17,500
• Instant financing decision with no impact on credit score
• App and virtual card options for payments
• Over 1.6 million Affirm users have improved credit scores

Competitive advantages over Klarna:

• Much higher maximum purchase price up to $17,500
• 0% APR financing periods up to 12 months
• Reporting to credit bureaus can help build credit

However, Klarna offers a larger merchant network and faster financing approval.

Great for those who want longer repayment terms up to a year and potential credit score benefits. Affirm provides flexible financing.

PayBright

Founded in Canada in 2014, PayBright offers installment payment plans for ecommerce purchases and in-store credit at healthcare providers. With over 1.3 million customers, PayBright allows online shoppers to split payments over 2-3 interest-free monthly installments.

Key features include:

• $250-$10,000 purchase amount at 0% interest
• Instant credit decision and access to funds
• Integration with platforms like Shopify and Magento
• Accepted at 1,500+ Canadian retailers and healthcare providers
• Can apply purchases to existing credit and earn rewards

Competitive advantages over Klarna:

• $10,000 maximum purchase price
• Healthcare financing options
• Rewards potential by using with existing credit card

However, Klarna has higher worldwide reach and brand recognition.

Ideal for high-ticket purchases and healthcare needs. PayBright offers flexible financing and payment plans.

Laybuy

Established in 2017, Laybuy is a New Zealand-based buy now pay later platform available in the UK, Australia, and New Zealand. Laybuy has over 1 million active customers and 5,500 merchant partners. It allows online shoppers to split payments into 6 weekly interest-free installments.

Key features include:

• No interest or transaction fees on installments
• $120-$1,200 purchase amount range
• Instant spending limit decision during checkout
• Seamless integration for merchants using Laybuy API
• Accessible via iOS, Android and desktop apps

Competitive advantages over Klarna:

• Higher maximum purchase amount at $1,200
• More repayment flexibility with 6 installments
• Strong presence in UK and Australia markets

However, Klarna offers a larger global presence and larger merchant network.

Great for those seeking an international alternative accepted in the UK and Australia with flexible 6-part payments.

Sezzle

Founded in Minneapolis in 2017, Sezzle is a payment plan platform that allows customers to split online purchases into 4 interest-free installments paid every 2 weeks. Sezzle is available in the US, Canada, India and Europe. It has over 5 million active users and tens of thousands of merchant partners.

Key features include:

• No fees or interest charges on installments
• Minimum $10 to maximum $1,500 purchase amount
• Qualification based on bank account history, not credit score
• Seamless integration and customizable options for merchants
• Access via mobile app on iOS and Android

Competitive advantages over Klarna:

• Interest-free plan for smaller purchases starting at $10
• Very quick and easy sign-up and approval process
• Gives option to tip at checkout to thank retailers

However, Klarna offers a larger merchant network and brand recognition.

Great for smaller, everyday purchases on a tight budget. Sezzle makes managing payments simple.