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The plugin integrates the Klarna checkout with J2Store joomla shopping cart. The Klarna checkout is the newest offering by the Klarna gateway.
Klarna Checkout is available in Sweden, Norway, Finland and Germany at the moment. To get started with Klarna Checkout you will need a separate EID and Shared secret. Your credentials from using Klarna Invoice/Account will NOT work.
So make sure that you have obtained the correct EID and Shared Secret from Klarna and enter them in the plugin params. Read the documentation PDF that comes with the plugin for set up instructions.
A license entitles you to 1 year of updates and support from the date of purchase. But you can use this plugin as long as you wish. The license is for support and updates.