We at Klarna believe strongly that the user should be able to decide how to handle their payments, at every point in time. A big part of this means offering full flexibility, even after the user has left checkout. In this blog post we’ll explore some of the principles we believe should shape a customers ideal post-purchase experience.
#1 People need transparency
No one likes being surprised by extra costs, fees and interest. Users should know two things without a doubt, what the product offers and how much they are paying for it. That is why we have worked hard to show all the important information in a clear manner. When an option has a cost associated with it, this is clearly stated up-front. For instance, when a user decides to slice a purchase into installments, we show them the total expected interest charges and the amount they will have to pay each month. Similarly, extending your due date has a set fee attached to it that is clearly displayed. No surprises, exactly what you want when dealing with something as personal as your finances.
#2 People need choice and flexibility
Needs vary, both between people and for an individual. Settling your bill feels very different whether you do it on salary day, when you feel it’s no big deal, or a week before – when funds have become tight and you’d rather not have to deal with the consequences of your latest purchase. Therefore we believe it is important to offer a range of alternatives so the user always has his or her ideal method available. If the user is tight on cash or just doesn’t feel like taking an action yet – they can decide to postpone the due date and deal with it later. If the user wants to pay it over a period of time rather than paying all of it at once they have the possibility to slice the payment amount into smaller chunks. Once the customer has settled with a particular option, they can still change their mind. For instance if they chose an instalment plan and later come in to more funds than expected – they can pay it off early. There are many other initiatives on the way to increase this flexibility, keep an eye out on our app and you will see them popping up soon.
#3 People need clarity
Aside from knowing what things will cost and what they do, the customer must also feel comfort in the information provided and the presentation. If the price and functionality is clear but there are confusing credit terms and agreements attached to the confirmation button – they might think twice about continuing. Naturally the credit terms will never be a fun read, interest rates will never be natural to some, and trusting a company with your finances will always make you think twice. What we can do however is make all of these things easier for you. We avoid complicated jargon, we don’t hide the terms under a tiny link and we will provide continuous communications to keep you up to date on what is going on. For instance, if a payment is due we will remind you. If you decide you want to pay less – that’s fine but we will also let you know what the consequences will be. Clarity at all points in the purchase journey, not when it suits us – when it suits the customer.
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