Get what you love with Klarna. And don’t worry about the price as you will pay it over time, no catch, just Klarna! Founded in 2017, this Sweden-based company seeks to change the payments industry globally. It offers a “Buy Now, Pay Later” service that allows shoppers to buy from retailers without paying the total price upfront. Klarna provides several products, and the most prominent of them are paying in 3 interest free instalments charged every two weeks. Also, consumers can pay the remaining purchases’ cost in 30 days or get financing for up to 36 months.
List of the best Klarna Alternatives at Non GamStop Casinos
Last updated: 28 November 2023
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At the time of this guide, this payment tool was operational in 17 locations, even in the most cash-reliant countries like Spain and Germany. In addition, Klarna outperforms the other point-of-sale loans methods in terms of interest, fees, and return policy. This makes a point for casino players to use Klarna to fund their accounts and pay overtime without worrying about the fees.
Although this model was not popular in the past, customers are increasingly flocking to the “buy now and pay later” providers now to finance everything from clothing to household items to travel services. There are a lot of features that savvy shoppers can get from such services. For example, get the advantage of the free shipping, discounts, and price drop. Also, they are an excellent option for emergency purchases. What’s more, Klarna consumers wouldn’t be subject to interest or fees if they make their instalments on time.
In this thorough guide, we will cover everything you want to know about the Klarna service. How to use it at online casinos. What are the similar and alternative methods? Check ukash review here.
Table of contents
- What Is Klarna Payment?
- How Does It Work?
- How Do Klarna Serves Merchants & Buyers?
- How to Get a Klarna Account?
- Can My Request Be Refused?
- What are the Klarna-like methods?
- Is Klarna Usable at Online Casinos & Sports Betting Sites?
- What Is the Klarna Product that Fits Online Casinos?
- Can I Use Klarna at Non GamStop Casinos?
- Klarna Pros: What Are the Benefits of Paying With Direct Banking?
- Klarna Cons: Should you consider an alternative method?
- Customer Care at Klarna
- What Are the Klarna Alternatives that Are Available at Non GamStop Casinos?
- FAQ About Klarna Payment Method
What Is Klarna Payment?
Klarna payment promotes itself as a shortcut to wise shopping! With this service, you can shop at online stores, local malls, and land based shops with no-hassle installation. At the checkout, you will pay only 25% of your purchase. Then the remaining cost will be split up over 3 payments until the total cost is paid in full. No interest, no catch, and you will get more time to pay!
Consumers can utilize Klarna to make payments at fashion shops, electronic stores, beauty shops, home appliances retailers, online casinos, and luxury stores. In total, this service is available at more than 250,000 retailers in 17 countries. This huge number covers both world class brands like Adidas and Nike and emerging startups.
Klarna has 90 million active users and processes 2 million transactions daily, as stated on its official website. In just 15 years, the company managed to handle more than $35 billion in online stores and get a valuation of $31 billion. This company achieved its most prominent success in Sweden, where it comes from, as it acquired 40% of all e-commerce transactions there.
This service offers point-of-sale loans in every way to facilitate the payment process for consumers and help merchants in increasing their overall sales. And generating a new stream of negative income via loan interest, if the buyer chooses a finance plan. As for consumers, they have many payment plans from which they can choose the right one for their circumstances. They can take the interest-free short instalment plan, pay the total cost in 30 days, use the virtual single-use prepaid card, and get financing to buy more products.
Although Klarna is still young and has not achieved a global reach, many widely known financial services corporations invested in it, such as, Visa and Sequoia Capital.
How Does It Work?
Customers can use Klarna through the mobile app to make purchases online or in store. At the checkout, consumers will pay 25% of their purchase. Then, they will get an on-the-spot loan offered by a third party for the remaining cost and pay it over time. If the consumer makes his payments at the appointed times, he will not charge any fees or interest. But if he fails to pay one or more payments, he will be subject to additional expenses. Klarna and other similar solutions can be very appealing for savvy shoppers, younger buyers, and anyone on a budget.
To understand how this service works, let’s say someone urgently wants to buy an Apple iMac priced at £1,200 to perform his tasks. Although this guy couldn’t afford this price now, he believes that he can work hard for a month and pay off the item’s price and any additional fees. When he was browsing Amazon, he found Klarna. So, he decided to use it right away. On the checkout, he paid only a quarter of the Mac cost, £300, and it was shipped immediately.
Our example hero had to pay £300 every two weeks until covering the total price. He succeeded in avoiding any interest and fees, as he paid all his instalments on time.
Besides the previous plan, buyers can also pay the full amount within a month or get financing for 6 months to 36 months, but of course, they will be required to pay additional fees and interest.
Hopefully, everyone follows the example above, but dire circumstances are likely to happen! So, the risk of paying interest always exists.
How Do Klarna Serves Merchants & Buyers?
Although such methods may be more complicated than debt payment solutions, they bring huge benefits to sellers and buyers.
Shoppers get many benefits. The most obvious one is taking items/ services immediately and paying later. Furthermore, they have a chance to avoid any interest if they pay instalments on time or pay off the full amount before the loan period ends. Also, it can be an excellent option for unexpected and emergency purchases. However, there are some downsides as you will be subject to interest if you take finance. Besides, each user must have one loan only at a time. In other words, you can’t use Klarna to make two consecutive purchases. In addition, when a buyer orders high-value items, he will be subjected to a severe credit check, which may harm his credit rating.
As for the merchants, they get more advantages than consumers! Klarna and other “Buy Now Pay Later” methods aim to reduce or eliminate abandoned carts, which make up 70% of total orders in the e-commerce industry.
Klarna shops can also increase the average order value and motivate shoppers to buy more products. As a result, they will increase the number of monthly and yearly sales. In addition, retailers can get additional negative income through the interest of late installment payoffs. On the downside for sellers, this service charges $0.30 per purchase plus a variable fee of 3.29% to 5.99%. Nevertheless, this isn’t a downside in the literal sense as the merchants will load these additional charges on the item’s cost.
How to Get a Klarna Account?
To start using Klarna, just download the free mobile app. After that, you can click on the “Sign up” tab and fill the registration form with this data:
- Full name
- Date of birth
- Country of residence
- Valid bank card
After completing this step, Klarna will send you an email with the confirmation code, click on it then Klarna login.
The app offers many options to users, including:
- Online shopping
- In-store payments
- Partnered brands
Navigate to your preferred brand website, shop your loved items, and, on the checkout, choose Klarna as your preferred payment method.
Klarna account works as a credit option just like your credit card but without the physical card. It doesn’t even have a learning curve. Just choose it, open the app, confirm the 2-verification steps authenticator. Then, if they approve your request, your items will be shipped straight away! You can choose the 3-installments plan, the one month payment plan or pay with the virtual card. If you select any plan to pay for an average shopping cart, they will perform a light credit check.
If you choose to purchase with financing, they will conduct an extensive credit check, which may harm your credit rating.
It is worth noting that Klarna sends all updates via email. So, if you change your sign-up mail, update it immediately with customer service.
Can My Request Be Refused?
Sometimes Klarna may reject some of your financing requests. There are various factors for this refusal. For example, late payments. Order history. Financial difficulties. Items in your shopping cart are too high.
It’s also important to try to keep the total values of your purchases average. In addition, you should ensure that the data entered in the registration form matches your bank account data. Also, keep in mind that sometimes repeated purchase attempts may result in your transaction being rejected (to prevent fraud).
What are the Klarna-like methods?
There are a lot of BNPL providers that have appeared over the past years in Europe. Users are increasingly turning to these means to purchase items and services online and in store. Here are the three most prominent competitors to Klarna at the current time:
Affirm is one of the best point-of-sale loans providers as it doesn’t charge any late fees. Also, consumers can choose between the web based platform and the downloadable mobile app. Also, the max loan amount of this method is upwards of 17,500, which is very high compared to its counterparts. Another highlight of Affirm is the long loan’s term which can extend to 48 months. However, as you know, nothing in the world is perfect! Affirm has many downsides that can make you think twice before considering it. The most obvious is the potential to hurt your credit score whether you pay the instalments on time or pay the total balance in full! Also, you may end up paying a high interest of 30% if you couldn’t secure the 0% loan.
Afterpay is another distinct POS loan provider. At the time of this text, this method was available at more than 100,000 retailers globally. You can use Afterpay to get 0% interest loans on all credit options. What’s more, this method doesn’t perform a credit check, and it doesn’t report on-time payments to the credit bureaus. So, your credit score won’t be affected in any way. In addition, the amount of your credit balance you can get depends on your Afterpay usage period. In other words, the new user can get less credit than another consumer with a long history. This method has some minor downsides. It charges $8 for each late payment. In addition, customers with too high shopping carts are unlikely to get their requests approved.
ZIP (Initially Known as Quadpay)
Zip, previously known as Quadpay, is a Buy Now Pay Later payment service available in many countries worldwide. This payment method has only one payment plan. Making a purchase and splitting its cost over four interest-free payments charged over six weeks. This payment solution is available at 51,000 retailers around the world. All customers can use Zip on their browser and the downloadable app to make their purchases. However, the purchase limits here are very low as they range between $35 to $1,500 for most merchants, but the exact maximum limit depends on the retailer.
The main advantage here is how easy it is to use at any merchant. Also, it doesn’t perform a credit check and it doesn’t send reports to credit bureaus for the on-time instalments’ payments.
Is Klarna Usable at Online Casinos & Sports Betting Sites?
According to Mastercard’s, Klarna and other Buy Now Pay Later methods, it has exploded in popularity and witnessed an increase of more than 1,200% in the US only! As they gain more acceptance worldwide, they become available in more places, stores, merchants, and non GamStop casinos.
Klarna’s daily transaction volume has reached 2,000,000 payments during the lockdown period. However, that notable rise isn’t just a lockdown trend as consumers still heavily rely on these methods at the current time and it looks like this trend isn’t going to reverse anytime soon. Thus, online non GamStop casinos have integrated many “Buy Now, Pay Later” payment tools to cater to their players needs and offer them the suitable payment methods that suit their budgets and financial standing.
There are a lot of great perks in Klarna and its counterparts for online punters. They are suitable for all casino players as they are almost free of fees and offer long instalments periods. Moreover, this method will be ideal for players who prefer to share their card or bank account details with internet sites.
With all that has been said, we should mention the adage of Spider-Man: “with great credit comes great responsibility”. Punters should not endure heavy loans for the sake of betting. The FCA recommends all online shoppers and punters not overextend themselves financially to take advantage of point-of-sale loans even if they offer enticing incentives.
What Is the Klarna Product that Fits Online Casinos?
If you want to deposit at an online casino by Klarna, you can use the pay later by card option only. Meaning that you can’t repay your deposits in four instalments or cover their full price in 30 days or get finance.
When you choose Klarna from the cashier page, a page will appear that asks you to enter your virtual credit card details, which you can get from the Klarna app. This card is for single use only, and it will be worth less than financing and instalment options. You will have to pay off the card within 30 days.
Can I Use Klarna at Non GamStop Casinos?
The short answer is: Of course, no! This is due to the way the service itself works. Klarna needs to obtain the approval of the financial authority in the country of the user and the country of the merchant as well to be available to both of them. Since non GamStop casinos do not hold the UKGC license, they cannot add Klarna! Since casinos not on GamStop operate from outside the UK, players can’t get any kind of financing to make their deposits at these casinos as the local UK banks and these casinos do not belong to the same banking system. The only form of credit available at non GamStop casinos is the credit cards.
Klarna Pros: What Are the Benefits of Paying With Direct Banking?
Klarna offers a lot of advantages for savvy shoppers:
Offers fast credit without registration
With just a few clicks, you can pay with Klarna and get your items shipped on the same day without filling out forms or waiting for several days to approve your request. This method is as easy to use as credit cards.
Klarna offers a lot of different products that you can choose the most suitable for your financial circumstances. You can spread the cost of your purchases over three instalments paid every two weeks. Also, you can pay the full amount in 30 days, while the third product is to get finance for a relatively long period of up to 36 months.
Klarna works with more than 255,000 retailers worldwide to offer a wide range of options to all shoppers.
Sellers cannot save your financial data
Klarna shops will have no access to your card details. Also, it secures your transactions by multi-level authentications, confirmation codes, and online banking. This feature, in particular, makes Klarna superior to credit cards as they offer the same thing, but Klarna outperforms in terms of protection.
Minimum spending limit
The lowest credit you can get from Klarna is only $10. However, you should consider whether such a small amount is worth the funding.
Incentives and Rewards Programs
Klarna has a unique rewards programme, the Vibe scheme. For every dollar you spend at Klarna, you will earn one vibe. Then, after accumulating a huge number of vibes, you can redeem them by purchasing gift cards from Amazon, Best Buy and other major brands.
Klarna Cons: Should you consider an alternative method?
Like any other BNPL payment tool, there are some disadvantages of Klarna that you should be informed about before using it.
Runs a Credit Check
Klarna conducts a light credit check on users who buy average cost items, while buyers who shop order too high shopping carts are subjected to an extensive check which may affect their credit score later on.
The Debt Risk
Let’s face it, the bulk income of BNPL payments providers comes from the interest charges that consumers pay on the late payments and financing plans. However, these methods “tempt” users with some products that are entirely free of charge. So, they can take the debt while they believe that they will pay their instalments on time.
Savvy shoppers know this trick. So, they use Klarna only when they don’t have the full cost of their purchases but can afford it later. In other words, Klarna cannot be a suitable method for your recurring payments like Bacs. Because you will owe a balance and have to repay it within the specified period before getting any new debt. Nevertheless, not all shoppers are savvy! Some of them fall into the temptation to get their loved items without paying the full price upfront. So, they get many debts that limit their financial freedom. That’s why Klarna, and other similar methods, have been criticized for encouraging users to profligate spending.
Reports the Post Due Payments to the Credit Bureaus
Unfortunately, if a consumer missed a payment for 30 days, Klarna may report this payment to the credit bureaus. Definitely, the consumer will be subject to penalties and fees, but the most harmful thing is that this late payment can appear on your credit report for 7 years or more! However, Klarna does not report the delayed payments straight away to the credit bureaus. Instead, they send many messages to the customers and may call them to pay their due payments before taking any action.
Doesn’t Accept Withdrawals
Although Klarna is an appealing deposit method with low or no interest, it isn’t usable for withdrawals! This can be Klarna’s largest downfall.
It hasn’t achieved mainstream use yet
Despite Klarna’s impressive growth stats, it cannot be compared to Visa or even PayPal payment. It is operational only in 17 countries around the world. So, it is available at a limited number of casinos at the current time.
Not available at non GamStop casinos
There are a lot of great casinos that choose to be outside Gamstop. In fact, these casinos are very attractive to all players as they offer an exclusive gambling experience without any restrictions. But, unfortunately, Klarna isn’t available at these casinos.
Customer Care at Klarna
Klarna UK customer service is active 24 hours a day, 7 days a week, even on holidays. Through the app, you can start a conversation with a support agent through the live chat to track your shipments, inquire about returns, and manage your payments. Customer service works around the clock, seven days a week, to answer your inquiries and solve any problem you may have. Besides live chat, you can get in touch with the support service via email and phone calls. When we were reviewing this financial tool, we found that the FAQ section contains helpful information about payments, refunds, transactions, instalments, connections, security, and other vital aspects.
Klarna strives to provide a safe and secure experience for all users. They designed the app to block any unauthorized access, protect users’ data and personal info. Also, they physically secure the buildings that house their servers! In addition, users accounts, payments history, and other data can only be accessed by a limited group of specialized personnel. However, on May 27, 2021, Klarna exposed the users’ accounts were accessible for any user and blamed a severe software glitch. In just 30 minutes, 90,000 of its users’ accounts were affected! Unfortunately, hackers have exploited this flaw and posted screenshots for Klarna users’ accounts on Twitter! According to the service statement, this technical glitch was “self-inflicted”. It resulted from an update that was introduced on the morning of the leakage.
It is not the first time that the company has come under scrutiny for breaching consumer privacy protection. In October of 2020, Klarna sent out newsletters to some people who hadn’t signed up for it, which caused an investigation by the Information Commissioner’s Office. Of course, such incidents can diminish Klarna’s standing in the eyes of the consumers, as safety always comes first.
What Are the Klarna Alternatives that Are Available at Non GamStop Casinos?
Klarna has major downfalls that likely will propel you straight away to consider another payment method! It is slow in processing consumers’ payment requests, associated with the risk of hurting your credit score, and it is not widely available at online casinos and sports betting sites. What’s more, it is non-immaculate in handling the customers’ privacy.
As you know, users rely on digital financial means to make their payments in traditional and online stores. 2.8 billion mobile wallets in use at the end of 2020 and this number is expected to jump to 4.8 billion by the end of 2025. In addition, the number of cryptocurrency wallets has become close to 70 million crypto wallets. Not to mention the bank cards that anyone around the world can get from any bank instantly. You, therefore, have the luxury of choosing to use any financial instrument that is convenient for you. The following section outlines the most important financial means available in casinos outside of GameStop.
When preparing the following list, we have chosen only the payment solutions that do not have any Klarna downfalls! They accept both deposits and withdrawals, and do not charge you any fees or credit. Also, they process your transactions promptly, especially for deposits.
More than 5.36 billion people on the Earth use bank cards. In 2019, there were 22.8 billion credit, debit and prepaid cards in circulation around the world.
Bank cards have achieved this legendary popularity thanks to their ubiquitous availability, ease of use, and fast payments.
Therefore, your bank card may be the first method you think of when conducting your financial transactions at non GamStop casinos. Bank card products include prepaid cards, debit cards, and credit cards. For casino players, prepaid cards may be the best option. It allows them to maintain their budgets, followed by debit cards. On the other hand, credit cards are no different from Klarna as they make it easier to get loans in exchange for quick purchases. In fact, gambling and loans are two things that should be kept entirely apart and forever! Since gambling is primarily an addictive activity, vulnerable players may burden unserviceable levels of debt as a result. Therefore, the UKGC is currently considering banning gambling on credit cards.
You can easily use any banking card at non GamStop casinos by entering the card numbers into the boxes provided and completing the two-step verification process. Then, the funds will be sent to your casino account instantly.
We cannot say that e-wallets can be compared to bank cards in terms of prevalence and popularity. However, these methods have achieved mainstream uses in many industries, especially the online gambling industry and non GamStop casinos. E-wallets allow users to make their payments quickly and securely without sharing their card or bank account details with the casino or any other party. The fees of wallets range from 1% to a maximum of 5% per payment. However, in return for these fees, they provide you with fast and seamless transactions.
All e-wallets, without exception, offer easy-to-use apps available for download on Android phones and iPhones alike. In addition, users can access their accounts through the browser-based platforms. So, regardless of your preference, you can use the whole wallet functionality on your mobile device, including creating a new account. Linking a new card. Make a deposit and receive withdrawals from GamStop casinos. Paying bills. Transferring money to your family and friends.
All wallets are safe from fraud risks, employ the most robust protection and encryption protocols, and provide you with additional means to secure your account. Some of the most used wallets at non GamStop casinos are: (Skrill, NETELLER, Ecopay, Payer, Paysafecard).
Pay by Phone
Mobile wallets are a branch of e-wallets, meaning that mobile wallets work no different from other e-wallets. They store users’ cards or additional payment info. Then, when a customer approaches the checkout page or the cashier section at the casino, he can use this method to supply funds without sharing his payment info or any other sensitive data. However, there are some points where mobile wallets differ fundamentally. They have to be linked to a phone number and usable exclusively on one mobile device. Also, pay-by-mobile methods offer very low limits for transactions, and they are only available in local stores. Therefore, players cannot use them at non GamStop casinos.
Although bank transfers are an outdated and uncommon method, they may be suitable for older players, high rollers. And players who prefer to depend on bank transfers to make any money transfer. Of course, this method is available at all non GamStop casinos.
To use this method, first, you need to contact the customer service at the casino and question them about their bank account data and the transaction reference code. Then, you can open your bank app and fill in the transfer form. Likely, your bank will take an extra service fee. Then, it will process your transfer in a period of between 3 – 5 working days.
If you manage to accumulate some winnings, you can contact customer service and ask them to withdraw your winnings to your bank account. The most prominent negative feature of this method is the long processing time and the high transferring fees. In most cases, you won’t need to appear at the bank. However, if you send/receive a huge payment, they may ask you to go to the nearest branch for identification.
According to Statista, the number of available crypto wallets reached over 70 million at the end of March 2021. It is not surprising as every coin achieves record levels of growth ranging from 100% to 500% every year. Also, many countries are moving towards legalizing digital currencies and encouraging their use to eliminate corruption and inflation. Nevertheless, digital currencies have not achieved general use in any field or industry, even iGaming. So, they are not available in many casinos outside of GameStop
Currently, the most widely used digital currencies are: (Ethereum, Bitcoin, Dogecoin, Litecoin).
The “Buy Now, Pay Later” payment tools bring benefits to both buyers and merchants. By offering fast and long-term loans, buyers can get their favourite items, while retailers can increase their sales and get more customers who don’t abandon their carts! Klarna is one of the leading POS loan providers, available in more than 250 online stores and used by more than 90 million people in 17 countries. However, this method will not be suitable for casino players who want to make their deposits quickly and get their winnings without waiting. In addition, Klarna isn’t available at non GamStop casinos.
FAQ About Klarna Payment Method
Any payment request you send to Klarna is subject to verification and may be approved/ rejected based on various factors. For example, your previous transaction history, credit standing, transaction value, etc.
If the user pays his late instalments quickly, there will be no effect on him. But if he does not pay more than one instalment in a row. Then, several tough actions will be taken against him. First of all, he will not be able to use Klarna again. Second, Klarna will report the loan to the credit agencies. Third, he will pay additional fees of $35.00 per missed month.
No, you can’t use Klarna at offshore casinos and it is available only to a few UK licensed casinos.
Probably not, for many reasons, as it doesn’t offer quick transactions. Charges late fees. And above all, you shouldn’t get into debt for the sake of gamble.