Stripe, a US global payments company announced a partnership with Swedish fintech company Klarna, Russian Forbes reports.

Within the framework of cooperation Stripe will allow its customers - retailers - integrate Klarna’s “buy now, pay later” payment method in their online stores.

This is a partnership between the two most expensive fintech startups: Stripe in the USA, Klarna in Europe. In the spring of this year, Stripe raised $600 million in its last funding round, investors valued the company at $95 billion. And Klarna closed a new investment round at the beginning of the summer at a valuation of more than $40 billion.

Klarna has two options of buy now, pay later payment – the buyer can split the cost of the purchase into 4 interest-free payments, pay every 2 weeks or pay for the item in 30 days after the purchase.

Before the official announcement, the startups tested the new model on individual retailers and noticed an increase in their sales by an average of 27%, while the average order volume grew by 41%. At the same time, some retailers noticed that up to 40% of Klarna users made a purchase in their store for the first time.

Klarna’s payment methods will be available to Stripe customers in the US, as well as in 19 European countries.

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