The addition of Klarna payment method for your merchant website meets a number of characteristics:
- Klarna establishes a risk profile of online buyers by collecting their data.
This profile attributes a risk status for a given payment.
- The buyer's data is called Checkout. This data depends on the buyer's country. It can contain:
- personal data required to perform a financial solvency and identity check, e.g. last and first name, address, date of birth, gender, e-mail address, IP address, phone number,
- data required to make an invoice-based purchase in connection with the order, e.g. the number of articles, their references, the invoice amount and the tax percentage.
- The merchant receives the transaction money once the transaction has been validated (or captured), i.e. upon order dispatch.
- The dispatch of the order must be made within a maximum of 7 days after the reservation price has been determined.
- The buyer's account is debited starting from the 14th day after the authorization has been given and only after the orde has been received.
- The merchant's MID with Klarna is valid for a given country. The merchant ID (merchant id) is necessarily linked to the merchant's country.
- The merchant can have several MID that he/she attributes to a shop that is linked to a country.
- The transaction amount is credited at once directly to the merchant's account by Klarna in the currency of the buyer's country.
- Klarna assumes the risk of non-payments. This is why a risk status is assigned to a transaction and determines the successful outcome of the payment.
- The Klarna payment method is either an invoice-based payment or an installment payment.