Klarna, the AI-powered global payment network, has announced the integration of Sofortüberweisung into the Klarna ecosystem, consolidating two well-known services.
Sofortüberweisung, or “Sofort,” is an online direct payment method that involves an immediate and direct transfer of funds. The Sofortüberweisung function will become part of the Klarna Pay Now product range in effort by the company to increase the security of the checkout process for both consumers and merchants as well as imporove overall user-friendliness. Consumers in Germany will continue to see the name “Sofortüberweisung” in their payment process, Klarna said.
With the innovation, consumers can now track their Sofortüberweisung payments within the Klarna app and make payments without having to re-enter their payment details. By integrating Sofortüberweisung into the Klarna payment experience the company is seeking to crete a more seamless and secure payment processing experience with a higher level of trust and protection.
David Sykes, Chief Commercial Officer: “We are integrating Sofortüberweisung into the Klarna environment to offer consumers and merchants the best of both worlds: the familiar Sofort payment process combined with the smoother, more secure payment experience and global reach of Klarna. The combined product is better for merchants and consumers, and also a platform for Klarna to expand the functionality of Sofortüberweisung globally.”
The improved user-friendliness has reportedly led to a 5% increase in the conversion rate for consumers who use Sofortüberweisung integrated into Klarna. To date, Klarna has already brought Sofortüberweisung bank-to-bank payment service into the Klarna payment environment and launched it across some of Klarna’s other markets globally, including the UK earlier this year.
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