Worldpay, a global leader in payments, has announced that it will partner with Klarna, a leader in invoice and credit based payments, to further enhance its product portfolio. From today, Worldpay customers trading in Austria, Finland, Germany, the Netherlands, Norway, Sweden and the United Kingdom, and wishing to accept payments on invoice or instalments, will be able to use Klarna’s invoice and credit based payments from Worldpay. ”This will help eCommerce businesses to improve conversion rates by up to 20% and provide a fast and smooth checkout process.”, says the company.
”These new payment options will allow consumers to decide when to pay for the items once they have received their goods. Instead of a request for credit or debit card details at the point of checkout, consumers are prompted for their email address and postcode, ensuring a quicker checkout process and leading to lower cart abandonment. The solution allows consumers to manage the terms of their payment, be it 14-day payment by invoice, by fixed or flexible instalments, spreading the cost over several months.”, according to the press release.
The move into credit and invoicing payments follows demand from customers wanting to expand the breadth of payment methods offered. Worldpay is one of the first payments companies to deploy this new payment integration, providing superior market coverage as well as faster time to market since there is no need for a new plug-in when legacy technology is updated.
Michael Rouse, Chief Commercial Officer of Klarna said: “We are excited to be able to launch the latest in our credit and invoice based payment methods with a global leader like Worldpay, enabling eCommerce businesses to compete more effectively in key European markets. Klarna assumes responsibility for managing credit and fraud risks, allowing companies to quickly receive payment for orders, and allowing consumers to pay only if they’re happy with their purchase. We offer more flexibility in how to manage payments for products and services. It’s a win/win scenario.”
Dave Glaser, Chief Product Officer, Global eCom at Worldpay said: “Retail is a competitive sector so we’re seeing increased demand from customers wishing to create more reasons to shop with them over their competitors. For some, payment by credit card is seen as risky, and old fashioned, so being able to adapt to new and local payment preferences is a way to rectify this. We believe that this solution will empower companies to see a real increase in sales, and chose to work with Klarna due to their unprecedented coverage in the Nordics and Europe. Knowing the excellent customer service they provide means our customers won’t be disappointed.”
Worldpay is a leading payments company with global reach. We provide an extensive range of technology-led payment products and services to around 400,000 customers, enabling their businesses to grow and prosper. We manage the increasing complexity of the payments landscape for our customers, allowing them to accept the widest range of payment types around the world. Using our network and technology, we are able to process payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies. We help our customers to accept more than 300 different payment types.
Klarna is one of Europe’s leading payments providers that aims to make the payment process simple, smooth and safe for customers and its merchant partners. Klarna works together with 70,000 merchants to offer payment solutions to more than 60 million users in Europe and North America. Klarna, headquartered in Stockholm Sweden, has 1,500 employees and is active in 18 countries. The company was founded in 2005 was recently named as one of the top disrupter companies in the world by CNBC.