Klarna is the next big thing in Internet payments

PayPal revolutionized the way we buy things online, but Klarna is the next big thing in Internet payments, according to famed venture capitalist Michael Moritz.

Moritz made early investments in Google (GOOGL, Tech30), LinkedIn (LNKD, Tech30),Yahoo (YHOO, Tech30) and eBay’s (EBAY, Tech30) PayPal. His firm, Sequoia Capital, has been investing millions in Klarna over the past few years. He is impressed with how the Swedish company’s technology makes online transactions easier, cutting out passwords and the traditionally slow registration process.

“We’ve invested in payments for a good long time and had started doing that in the 1990s,” Moritz told CNNMoney. “We had been an early investor in PayPal. But that was a long time ago. That was almost 15 years ago now. And the world moves on and changes, particularly with the advent of mobile computing … there’s a vast new landscape to conquer.”


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