Pay-later provider Klarna launched a new partnership with small business management software company FreshBooks, according to a Wednesday (Oct. 21) news release.
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The collaboration is designed to bring Klarna’s buy now, pay later (BNPL) payment methods into FreshBooks’ invoicing and payment flows, with no added setup required for merchants, per the release.
“Main Street small businesses and entrepreneurs are the backbone of the U.S. and Canadian economy, and getting paid reliably and on time is what keeps them running,” Lisa Robinson, head of partner success for the U.S. East Coast and Canada at Klarna, said in the release. “By partnering with FreshBooks, business owners can now use Klarna to offer their customers more ways to pay—in full, in four interest-free installments or financed over time. Customers get the payment flexibility while FreshBooks users retain the confidence of predictable cash flow.”
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A plumber invoicing for a routine job, for example, can accept payment in full, while a mechanic billing for a medium-sized repair can allow a customer to spread the cost over four payments, according to the release.
“Enabling our merchant users to process and reconcile payments directly within their business software is a huge convenience not just for them, but their clients and customers who enjoy an exceptionally easy, fast payment method,” Jeff Imm , general manager of financial services and payments at FreshBooks, said in the release.
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