Klarna vs. Affirm vs. Skeps

Klarna and Affirm are both recognizable names in the consumer financing space, offering pretty similar products to consumers and merchants on the surface. They are the two most similar fintech firms offering consumer financing that we have covered so far, but there are still key differences that set them apart from one another. It is also important to see how they stack up to other firms in the industry, like Skeps.

To help merchants figure out the best partner for them, we are going to compare Klarna vs. Affirm vs. Skeps to figure out which offers the most advantageous terms for the financing they all provide, as well as which ones have something to offer that the others don’t.

A graphic with the words Klarna, affirm, and skeps written on it representing a Klarna vs. affirm vs. skeps comparison

This comparison will include:

  • The types of financing they offer
  • The terms of that financing
  • Unique aspects of each platform that may push them over the edge

Let's dive deeper into this Klarna vs. Affirm vs. Skeps comparison and see which can benefit merchants most.

Types of Financing

Klarna, Affirm, and Skeps all offer no-interest pay-in-four financing, allowing consumers to pay in four installments without having to pay any interest charges or worry about their credit being affected. They also all offer longer installment financing terms with interest rates dictated by the length of term and the consumer's creditworthiness.

Klarna also offers "pay in 30 days" financing, which allows consumers to pay for a purchase over the course of 30 days at whatever frequency and amount they prefer, similar to a credit card. This option also doesn't charge any interest or fees but doesn't really set itself apart from just putting the charge on a credit card, as most cards also don't charge interest when you pay off the balance within a month. This makes it more of a niche option for those who can't get approved for a credit card.

Skeps is the only firm that offers anything outside of these options, utilizing a network of established lenders that can offer consumers more types of financing.

This includes:

  • Personal loans
  • Co-branded credit cards
  • Leases and loans

As a result, Skeps has the edge in terms of financing versatility, which we will discuss in more detail.

Terms of Financing

Klarna and Affirm separate themselves from one another a bit more with their terms. Both offer no-interest financing options for pay-in-four, and both perform soft credit checks to avoid impacting applicants’ credit. One primary difference is the maximum purchase amount that each can finance. For Klarna, the maximum value of a financed purchase is $10,000, and Affirm is a bit more at $17,500.

Another significant difference is the fee breakdown for each. Affirm does not charge late fees, whereas Klarna charges a small $7 late fee if payments aren’t made within ten days of their due date.

Skeps’ terms are a bit more fluid, as funds are given out by the many different banks in their lender network. The terms that are constant among all forms of financing are that Skeps utilizes soft credit checks, offers no-interest pay-in-four options, and doesn’t have a specific maximum purchase limit for consumers looking to finance.

Unique Aspects of Klarna vs. Affirm vs. Skeps

Each of these firms offers something somewhat unique that can’t be compared 1:1 with the options of the other two. As a result, we will finish this comparison with a rundown of each firm’s “X-factor” that sets them apart as a fintech partner.


Klarna’s unique offering is its Klarna card. This card costs $5 monthly and allows consumers no interest financing options through the card. It is not a credit card but rather a virtual card on which users can utilize their pay-in-four financing while earning rewards.


Affirm’s Debit Card+ is a unique product offering that may draw consumers to their services. It operates as a regular debit card but can also be used to finance certain qualifying purchases. This gives consumers a unique way to shop and a convenient virtual card that they can use for secure online shopping.


Skeps is by far the most flexible option on the list. By working with a network of quality lenders, Skeps is able to offer the most comprehensive financing options, with something that can meet the needs of every single consumer. This allows for higher conversion rates and repeat business from consumers that enjoy having more options.

Take Advantage of Flexible Payment With Skeps

Skeps offers a comprehensive, end-to-end consumer financing platform that helps businesses modernize their entire payment process. Working with an entire network of established lenders, we go above and beyond one-click payment, also offering a one-click application process for several different types of consumer financing, including:

  • Installment financing payment plans
  • Co-branded credit cards
  • Consumer loans and leases

If you’re looking to partner with a forward-thinking fintech company that will keep consumers' eyes on the purchase while offering best-in-class financing, Skeps is the perfect fit.

Do you have more questions about Klarna vs. Affirm vs. Skeps?  Request a demo today or email us at support@skeps.com.

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Klarna and Affirm are both recognizable names in the consumer financing space, offering pretty ...


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