Merchants Abandon Klarna: Why NOWPayments and PayPal Pay Later Are Gaining Traction

Klarna is a popular buy now, pay later (BNPL) provider that has gained widespread recognition for its brand and global reach. However, not all merchants find it suitable for their needs.

Some businesses require lower processing fees, cryptocurrency acceptance, longer financing terms, higher approval rates, or better customer reviews. Others want a simpler Pay-in-4 experience without Klarna's enterprise onboarding or regional restrictions.

Several alternatives to Klarna have emerged in the market, each with its own unique features and benefits. NOWPayments is one such alternative that stands out for its ability to accept cryptocurrency payments, offering lower fees and global reach.

PayPal Pay Later is another popular option that offers built-in BNPL capabilities within PayPal's existing checkout infrastructure. It allows shoppers to split purchases into interest-free installments or monthly financing while merchants receive funds through their standard PayPal account.