Klarna vs Quadpay

Klarna Vs Quadpay Review

With so many financing options available, getting that new couch or that new dress shouldn’t be so hard. Whether it is bad or zero credit, you can still buy what you want with modern financing solutions.

Companies like Klarna and Quadpay bring your wishlist closer to you with a variety of installment plans so you can easily afford more items. They allow consumers to make convenient purchases by offering POS or point-of-sale loans. POS loans are loans offered at the point of purchase. These are available when you checkout online or when you pay at the cash register of a retailer’s physical store.

You may have heard of these two providers and may have wondered which one is right for you.

Let’s take a look at both to find out.

Klarna Vs Quadpay

To get started you only need to download the app or make an account on their websites.

With Klarna, you can purchase an item by choosing the Klarna option at checkout, after which you go through a quick affordability assessment. Once approved, you can go ahead and finish purchasing the way you normally would.

If you’re using Quadpay, you’ll need to sign up for an account and link your credit or debit card to it before using it. There are, however, a few restrictions in creating an account with Quadpay. 

How to Qualify?

Klarna does a soft credit check on your financial history which won’t affect your credit score.

Quadpay is even simpler as you only need to be a U.S. citizen and be above 18 years of age to qualify.

Once you’re done with signing up and are approved, you can make purchases through their websites, via their apps, or in-store.

Payment Options: Klarna Vs. Quadpay

Klarna has three payment options while Quadpay only has one. Let’s take a closer look at these.

Klarna Payment Plans

Pay in Four Plan

With this plan, you can pay in four installments without any interest. The first installment is due when your order is shipped and the rest are scheduled every two weeks for the next six weeks. You get two chances to make the payment. If they don’t receive payment the second time, an additional $7 in late fees is applied.

Pay in 30 Days Plan

This plan requires you to pay the loan amount within 30 days from the date of purchase. It allows shoppers to try the product and return it if they don’t like it. As long as you return the item within the first 30 days, you won’t be charged anything. This is a great option if you want to try a product out without paying anything until you’ve decided to keep it.

Pay in 6 to 36 Months Plan

With this plan, you get a one-time-use card offered by WebBank in partnership with Klarna. To qualify for this plan, you need to complete an application. Upon approval, you receive a card that you can use. It is much safer to use as the card protects users against identity theft and scams.

The payments are scheduled for six to 36 months with a fixed interest rate, payment amount, and due date. Klarna does, however, charge a 19.99% interest rate for missed payments. Don’t worry, the interest rate is only applicable if you miss a payment. There are no annual fees either.

Pay Now

There is a fourth payment method that Klarna offers, the Pay Now option. You can use it to make full payments but at lower prices when using the Klarna app.

Quadpay Payment Plan

Four Installments Plan

Quadpay’s plan allows shoppers to pay for in-store or online purchases in four installments over six weeks. The first installment is collected at purchase and the rest after the first month. However, Quadpay doesn’t charge any interest rates or fees on these installments other than if you miss a payment.

In case of missed payments, Quadpay does charge a $5, $7, or $10 fee which is based on where you live. Quadpay also doesn’t ask for any extras fees if you end up prepaying your loan.

Pros and Cons

We compare these two providers side-by-side so it’s easier to weigh them.



  • 0% APR
  • Multiple payment options
  • The 30-day plan is great for those looking for quick refunds
  • Accepts all major credit and debit cards
  • No prepayment fees
  • More retail partners than Quadpay and other POS lenders


  • Amex cards aren’t accepted for the one-time card payment option
  • Doesn’t accept prepaid cards
  • Doesn’t report on-time payments to credit bureaus



  • 0% APR
  • Higher AOV (Average Order Value) and conversion for merchants
  • Accepts all U.S. credit and debit cards
  • They report account activity to the credit bureau so you can use it to improve your credit rating
  • No prepayment fees


  • Only one payment option
  • Refunds on returned items take 13 days to process
  • Doesn’t accept overseas credit and debit cards or prepaid cards

Klarna Vs. Quadpay: The Verdict

Klarna is a better option than most online lenders due to its many payment plans. It doesn’t charge interest or hidden fees. If you miss your first due date while under its Pay in Four Plan, they give you a second chance to make a missed payment.

The 30-day plan is also a nice touch for shoppers who want the assurance of an easy return without putting any money on the line. Shoppers who are looking for a more secure way to purchase items will appreciate the one-time-use card.

One Payment Option With Quadpay

Quadpay offers only one payment plan. It’s a plan suitable for those who are confident in their ability to pay the installments on schedule. It is also great if you’re looking to build up your credit score.

The four installments are spread out over six weeks and is ideal for those needing a short-term financial fix. However, if you can’t stay on top of the installments, you may end up paying much more in late fees.

If you are tired of asking Google, “Is Klarna better than Quadpay?” or “What point-of-sale loan provider can I qualify for?” then we’ve hopefully cleared it up for you.

Klarna and Quadpay Vs. Credit Cards

If you’re trying to decide between using your credit card or Klarna and Quadpay, we’ve just made your life easier by listing the pros and cons of each. Take a look below.

Credit cards


  • Can be used everywhere


  • Lengthy process to apply and get qualified
  • Interest rates, late fees, finance charges, and other hidden and surprising fees
  • There is a credit limit
  • Fees for prepayments
  • Hard credit checks

POS Lending (i.e. Klarna and Quadpay)


  • No need for a credit score/soft credit checks
  • Klarna offers a variety of payment plans
  • Quick approval
  • Opportunity to build credit score with Quadpay
  • Fixed loan amount
  • No interest rates if paid on time
  • No loan prepayment fees


  • Can only be used at partner stores


Final Word on POS Lenders

POS loans are better than credit cards or personal loans in a lot of ways. For consumers with poor spending habits or those who frequently miss scheduled payments, they are less advantageous since Klarna and Quadpay both penalize late payments.

However, if you’re diligent with handling your finances and keeping up with payment schedules then the four, six, and even 12-month installment plans can work in your favor.

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