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Posted on July 08, 2019
First online printer to offer buy now, pay later with Klarna
Marqetspace.com, the online printer for print professionals, based in Manchester, UK has today become the world’s first online printer to partner with Swedish payment disruptor Klarna Bank.
Marqetspace clients will now benefit from two new flexible payment options, powered by Klarna. They can choose to “Pay 30 days later” or “Slice it in 3”, both interest free and without arduous credit applications.
Klarna, which is Swedish for “clear”, is now one of Europe’s largest banks and is providing payment solutions for 60 million consumers across 130,000 merchants in 14 countries.
Pay 30 days later, is as simple as it sounds. A client can choose to pay nothing at time of order, then the full amount 30 days later. They don’t even need to enter any credit card details.
Or with Slice it in 3, the client pays one third of the order value today, a third in 30 days and the final third in 60 days time. Again, interest free.
The process is simple. A client just adds print or display items to their basket, as normal. Anything which is printed can qualify, so that could be signs, banners, pop-up displays, folders, business cards or even printed gazebos. When they reach payment page, they can choose Pay 30 days later, or if they’ve spent over £99, then can choose to “Slice it in 3”.
There are no credit application forms to fill in. Both options are personal credit accounts. Klarna asks for the client’s name, home address and date of birth. They do a ‘soft’ credit search, which doesn’t leave a footprint and isn’t visible to any other lenders, or Marqetspace. A credit decision is instant, and doesn’t harm their credit rating.
Marqetspace is operated by Grafenia plc, listed on the London Stock Exchange. They’re the same people behind other brands like printing.com and Nettl.
Peter Gunning, CEO of Grafenia said “We’re always looking for ways we can help our clients. As well as fancy new products like giant deckchairs and pop-up kiosks, we try to innovate with new services. Marqetspace sells to thousands of resellers, like printers and designers. We know that sometimes they’re paying for work before their clients have paid them. When we saw what Klarna were doing, we thought our clients might find it useful, particularly over the summer months when cashflow can be a tight. To celebrate, we drew a picture of TRAD3 with his three little piggy banks.”
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