One thing that you can count on when betting online is the availability of numerous payment methods. In the past decade or so, online gambling payment solutions have evolved dramatically to match the ever-growing demands of consumers. Bettors have dozens of services that facilitate deposits and withdrawals at gambling websites. Klarna is among the services available to gamblers across Europe. The Swedish bank is tailored for online shopping. However, over the past few years, it has become popular in other sectors, including internet gambling. Klarna is only available in several countries. So, not many sportsbooks support it. For the ones that do, the banking solution delivers reliable and convenient payments. This Klarna guide looks at how the payment method helps with betting transactions.
About Klarna
Founded in 2005, Klarna is a Swedish bank that works to make online payments as simple as possible. The bank offers several payment options, allowing customers to pick the most suitable one.
Klarna Pay Later is a feature that lets you authorise transactions even without sufficient funds. You can then repay the bank later with interest. Usually, the duration is between 14 to 30 days. So, you must ensure that your linked bank account can cover the payments by the deadline.
Another service by Klarna called Split It works almost the same as ‘Pay Later.’ You can delay your payment to the bank. However, the repayments are in instalments rather than in one go. Therefore, you have more time to complete your payments.
Klarna Instant Banking works like any other digital wallet. It allows you to transfer funds straight from your bank account to a merchant. You don’t need to submit your account information because Klarna facilitates the transaction. The company launched the instant banking service in 2014 after acquiring Sofort. Bookmakers that accept Klarna use this alternative. For the moment, the delayed payment services are not available for betting.
Using Klarna for Betting
When depositing or withdrawing, pick Klarna on the sportsbook’s cashier page, then input the amount. Once you submit the transaction, the site will redirect you to the Klarna app or website where you have to choose the linked account that will supply the funds. If you don’t already have one, Klarna allows you to add it. Then, you have to enter the necessary bank account details to authorise the payment. Once it’s complete, funds will appear in your bookmaker account. When searching for bookies that support Klarna, you should also look out for those that list Sofort or Sofort by Klarna as a payment method.
Klarna users have several reasons to consider the service for sports betting payments. One is the speed of transactions. Once you have your Klarna account ready, you can send money in and out of betting sites quickly. If you have the Klarna app, then payments are even more convenient. You can punt at mobile betting sites without having to switch platforms during payments.
You maintain some level of anonymity when you pay with Klarna. Because the third-party service handles your transactions, betting payments don’t show up in your bank statements. So, when gamblers who prefer keeping their online entertainment under wraps will appreciate the privacy.
Klarna is suitable for an array of online purchases. After withdrawing betting winnings, you can use your account for online shopping, gaming and other payments. The bank partners with over 200,000 retailers globally.
Klarna Safety
Before you start betting at a bookmaker that accepts Klarna, you have to ask if it’s safe. Klarna is a bank, so it has high-grade security. The bank also partners with other financial institutions that guarantee premium protection, as well. Klarna is regulated, which means that it has to operate under a strict code of conduct. It safeguards customer data using AES-256-bit encryption. Therefore, you can provide your bank ID and other sensitive information without worrying about risking it. Bettors also enjoy the benefits of using a third party to transact at gambling websites. When depositing or withdrawing funds, you don’t have to provide your bank account, only your Klarna ID. So, you don’t have to expose private financial information.
Besides its limited availability, Klarna is a decent payment solution. The fact that customers get different ways to transact makes it better than most options out there. Expectedly, as Klarna gains more traction as an online payment method, it will expand its reach to cater to a wider audience.
