Klarna Online Casinos

When playing across online casino sites, players from Europe get to use so many different payment methods. Many countries across the continent have created great methods that would suit their online casino players’ needs. And these countries are especially important for the rise and popularity of Fintech companies. These are companies, as you may as well know, which facilitate online banking in alternative ways. They create products that would enable users to have quick and safe transactions.

One Swedish Fintech company that definitely stands out from the rest is Klarna. This is a company that has created several ways for users to transact online, securely. It is offered as a payment method across many online casinos, but do you know why? Why is Klarna such a popular online casino payment method?

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About Klarna

The Fintech company…

…Klarna started operating way back in 2005, in Stockholm, Sweden. It was founded with the aim to make Swedish citizens’ online payments easier and better. In order to facilitate their payments, the company first started catering to them only. But later, it moved its services to the neighbouring countries, Finland, Denmark and Norway. Its expansion was a result of its great work.

Focused on facilitating online payments…

…the company managed to use the right resources and the latest technology to improve the security of the transactions and provide the fastest processing times. As it was perfect for money management, users from all of the above-mentioned countries started using it with enthusiasm. One of the main services it offered at the time, the “pay later” turned out to be a huge hit among users, allowing them to enjoy secure and fast payments even when they’re out of cash, and repay later when ready.

Almost a decade later…

…the company had reached its peak. It knew it was time for further expansion, so the first step it made was acquiring SOFORT, another major name available across online casino sites. This was an online banking service allowing for instant bank transfers, based in Germany. The second step was setting its footprint in Switzerland, Belgium and Austria. But to this date, the company managed to go international, and expand its reach even further to countries like France, the UK, Spain, the Netherlands, Italy and even Australia and the US.

Today, it is a solution…

…used by millions of users across so many countries. Becoming the prominent and reliable name in the financial world, it came to be supported by investors and financed by the likes of Sequoia Capital, VISA, Atomico, Permira and Bestseller. And as such, it became one of the most popularly used payment methods across many industries, the online gambling industry included. You will find it across hundreds of online casino sites catering to players from all across the globe.

Types of Services Offered

Its diverse range of products and services…

…is what makes Klarna such an attractive payment method to use across online casinos. When it combined forces with SOFORT, it added another service to its range and became an even stronger brand. To cut to the chase, you will find three main services offered by it, the Pay Later, the Instant Banking and the Split It, as well as several other which you can explore on its site.

Pay Later is at Klarna’s core…

…as it is the first service, the first product offered by the Fintech company. This is the option explained earlier, where you can pay for or purchase something even if at the moment you’re short of money on your bank account. You’re given a deadline when to return the money, or actually pay for the product or service, which is usually 14 to 30 days. You will get reminders when your payment is due, but what matters is that you can buy or pay for something even if you don’t have enough funds for immediate payment.

Instant Banking… 

…is actually the service that arrived with SOFORT, the service SOFORT provides. This is a solution that allows you to protect your bank account information, as it allows for the transfer from your bank account to go to the merchant’s or online casino account, without you needing to worry about anything, and certainly without you needing to visit your bank. This is the intermediary service that connects you, your bank and the online platform’s bank, without revealing much information.

Split It…

…is an incredible service, as well. This is a loan-like solution which prolongs the payment. Say, for instance, you have no money to spend on an overpriced suit or an expensive service at the moment. But you want it badly. What the Split it solution gives you is a chance to gradually pay off for the product or the service. You can choose the number of instalments from the ones offered, ergo the rates with which you’ll return the money, based on the overall cost of the product.

Klarna at Online Casinos

As an online casino payment method…

…Klarna can be quite useful, as it allows for instant transactions, and that’s the reason why it is available across so many casino sites. The thing is, though, these gambling sites usually only allow for the Instant Banking service to be used, considering deposits need to be made in real money. Therefore, even though you have access to the Split It and Pay Later services when you get started with it, you cannot actually use them across online casinos.

To make a deposit with it…

…you would have to visit the casino’s Cashier section. Look for either Klarna’s logo, or SOFORT by Klarna logo. Whichever of the two you choose, you’ll get the same service. Then, do the following:

1. Click on the respective logo.
2. Choose your bank from the ones offered.
3. Enter the bank account details.
4. Enter the specific amount of money you wish to deposit on your online casino account.
5. Confirm the transaction.
6. The funds will be instantly transferred.

Withdrawing your winnings…

…with it would be pretty much the same. Again, repeat all the steps as explained, but this time, instead of entering the money you wish to deposit, enter the specific amount of money you wish to withdraw. After the casino reviews your request, sees whether you’ve met the wagering requirements in case you’ve claimed any bonus, it will approve the transaction, and Klarna will process it. Make sure you request the transaction through the SOFORT/Klarna system, not as a direct bank transfer. That’s actually what makes the service even more appealing, the fact that even when the casino does not allow direct bank transfer withdrawals, you still have an intermediary which will transfer the money to your bank account directly. In two to three business days, the money will arrive on your bank account balance.

Limitations and Restrictions

The first limitation…

…you have probably noticed is that Klarna can be used by players from the above-mentioned countries only. If you’re a player from any other country, you wouldn’t be able to use it. As another restriction, we may mention the fact that although available in your country, you cannot use the convenient Split It and Pay Later services across online casinos, even though they would come quite in handy.

Other than these two…

…we can find no further restrictions and limitations. As long as you’re a player from an eligible country and you wish to use the instant banking service, you are good to go.

Advantages and Disadvantages

When you choose to use…

…this payment solution, you should be ready to get mind-blown by the benefits it can offer. And even if you start using it as an online casino payment method, when you see how efficient it is, you would like to use it for everything else in your life, for all kinds of payments, especially when you have the Split It and Pay Later options, which are awesome for online shopping.

Now, the major benefit…

…you get for using it precisely that, the diversity. The range of services it offers is simply magnificent. You can plan your finances, you can pay for something when you’re short of money, or pay in batches or instalments, and your life would be significantly improved. The Instant Banking option is excellent for online casinos since you can send and receive money from and to your bank account, meaning make deposits and withdrawals, safely and securely, in real-time.

On that note…

…the fact that the solution provides you with instant deposits and withdrawals that take no longer than three business days is what makes it such an incredible solution. Add to that the fact that it comes with the latest security measures and it is approved by the Swedish Financial Supervisory Authority, and there you have it, the perfect online casino payment method.

But, on the other hand…

…the fact that only players from the eligible countries can use it makes it a bit limited. Unless you’re from an eligible country, you cannot use its services. Then, you have the fees. The fees range, depending on the services you’re using, your bank and your country’s policy, but they are there.

And then, of course, you have the fact that you can only use the Instant Banking option across online casinos, and never the Split It and Pay Later services, although these two would be quite convenient as online casino payment solutions.

Final Analysis

If you’ve been playing across online casinos…

…for a long time, you must have seen Klarna’s logo at many sites. That’s because this solution is truly remarkable. It allows for smooth, fast and secure transactions, which is what online casino players need. It is quite convenient to use as it connects you, your bank and online casino, and is even available for withdrawals when you’re lacking direct bank transfer as an option.

It is quite popular across casino sites…

…for precisely these reasons. You can find it across hundreds of online gambling sites, most of which are premier, well-established and legit casinos, so you won’t waste time finding one that would allow you to use its services. Needless to say, it is quite easy to use and make deposits and withdrawals with.

You should keep in mind…

…though, that it comes with fees. You should check whether these fees would work for you before you choose to use it. If you’re okay with the fees, and you’re a player from an eligible country, you will definitely enjoy a seamless gambling time playing your favourite slots, table games and Live Dealer games across online casinos with it.